Hi George

Yes it is possible for you to do this, you shouldn't have much problem getting a mortgage. I do understand about reducing your payments on your other debts and if this is a priority for you then you could include these as part of the mortgage, your combined income is enough to do this.

If you are looking to move in the summer then I would just make sure that you keep up with your repayments on your loans and credit cards and you should be fine.

Any other questions let me know.

Regards


Mark

Hi mark,

Thanks or the fast reply. The reason for thinking about consolidation is not so much the amount i will pay back but more to do with having to pay out less each month. My fiancee and i are both due pay rises soon but just wanted to know if it would be possible for us as we are looking to move out hopefully in the summer.

Thanks for your help.

George

Hi George

Yes this is something that you could do.

You would be looking at a 100%+ mortgage as you don't have a deposit. Based on the figures that you have given you could borrow the amount you are looking for plus consolidate your other debts if you wished to.

You do need to think carefully about consolidating debts in this way though as you do pay more back other the term of the mortgage.

If you need any help with this please feel free to contact me through my profile. Alternatively I would contact a local mortgage broker who can run through your options with you.

Regards

Mark

Hi there, i have had a look through the posts and some have helped me out but i am still unsure of my best options. My fiancee and I are looking to by our first house. We are both on around £21K a year, each and are looking to buy for around £160K.
The downsides are we both have debt, I have around £10K in loans (just cleared my C/Cards) and she has around £5000 in credit cards and £4000 in a loan. Both of us make the repayments on time.

Ideally we would like to consolidate most of or all of our debt if possible into the mortage but we don't have a deposit either. Do you think this would be possible for us or are we just dreaming?

The only upside is we have around £3500 for fees etc...

Any help much appreciated

Thanks in advance

George