Is it a good idea to remortgage house to consolidate debt?
Q. My husband and I are looking into refinancing to consolidate our debts, it'll pay our credit cards, car payment etc...the lower monthly payment sounds great but I'm afraid it'll be more trouble than it's worth. Does anyone have any tips, suggestions, questions we should make sure we know before we say yes?
Asked by mandy608 - Wed Oct 25 17:42:19 2006 - - 5 Answers - 0 Comments

A. It can be very beneficial - if you stop collecting more debt! Be sure to use a reputible loan officer. There are laws out there to protect you. If you have enough equity in your house and your credit is good enough where you can get enough money out of your house to make it all make sense, you should do it. Make sure you're not paying the same amount of money that you're getting back because that would not make sense. Be clear if you want your mortgage company to pay the bills directly for you or if you would like to get the cash and pay them yourself. Also, I suggest that if you do this, you should get some extra cash out for a cushion if something happens.
Answered by melspur82 - Wed Oct 25 17:57:24 2006

What do I need to do to remortgage my house?
Q. Do I need a solicitor and can I do it on a comparison website. Does anyone know any good ones and can anyone advise me please on how to go about in re-mortgaging me house. Cheers people
Asked by Gooner - Wed Jan 2 14:57:07 2008 - - 2 Answers - 0 Comments

A. You don't need a solicitor. You just need to take out a new mortgage with a broker, use an IFA, or do some online research yourself first - google it. Work out how much equity you have left on your house and take out a reasonable chunk of it as necessary - not all of it!
Answered by Lenny - Wed Jan 2 15:05:35 2008

Should I remortgage my house to pay of my credit card debt? My adviser says I should..?
Q. My house is worth approximately 200,000 pounds and I have a small mortgage for 30,000 I recently became self employed and needed to borrow to finance a car and some business premises, plus I have to pay the bills. Hence the credit cards have started to creep up. i.e. I owe 30,000 to c.card companies and bank loans. What should I do my income hasn't really taken off and my advicer says that's ok I can do a projection and he can sort a mortgage out for me. Can you help?
Asked by mortgage4u - Fri May 5 05:33:34 2006 - - 8 Answers - 0 Comments

A. When you owe money, creditors get good at collecting. It my take a while, but they will come after it. Having said that, if mortgaging your house means you will have lower monthly payments to allow you the breathing room you currently need for your new business - it MAY make sense. Understand, lower monthly payments, just means lower payments, not lower overall cost. With a mortgage, the total dollar figure can be quite large - especially when you factor in fees. If you can get an alternative loan, at a reasonable rate, consider that - it is a good idea to keep your business affairs separate from you personal. Good Luck!
Answered by SimpleMoneyGuy - Fri May 5 23:15:01 2006

how long does it take to sort out a remortgage?
Q. how l ong once a house is yours can it take to sort out a remortgage- what does it entail? any help greatly appreciated thnaks.
Asked by JANE J - Sun Feb 4 18:48:37 2007 - - 5 Answers - 0 Comments

A. 2-6 weeks
Answered by Stu pid - Sun Feb 4 18:50:41 2007

own house outright/remortgage?
Q. i own my house outright (valued at 16000)and i am seriously considering a remortgage on it for 50,000 .my house is registered with land registry under my name,if i remortgage my house with a lender what happens (or who will then be registered as owner of my house at land registry. also can you still pay off a remortgage early same as you can with a normal mortgage or i are you tight to the years agreed.
Asked by patsy67 - Thu Nov 15 02:34:20 2007 - - 5 Answers - 0 Comments

A. 'Remortgage' implies that there is already a Mortgage on the house and you are increasing it ... However 50k is small for an increased Mortgage so I assume you mean a 'first' Mortgage ... When you Mortgage a property the Mortgage Company registers a claim against the house with the Land Registry .. this prevents the house being sold without their permission .. (which they will only give if you repay the Mortgage at the same time as you sell). The exact options (early repayment etc) depends on the exact Mortgage you get .. there are many 'special deals' (low rate, tracker etc) lasting between 2 and 5 years where, if you pay off early you are charged a penalty (this is known as a 'tie-in' period).. However most (not all) allow some 'exce [cont.]
Answered by Steve B - Thu Nov 15 02:58:47 2007

Can I remortgage my house for more than its worth?
Q. My flat is worth about 55,000, it can't be improved, it's perfect. I currently owe about 45,000 on my current mortgage. But I want to remortgage my flat in order to get into property developing. Is it possible to remortgage my house for say 100,000? And if not, how can i get my hands on 100,000? I didn't mean can i pay double for my house, i meant can I secure a loan on my house if it's more than my flats worth. I wasn't just going to jump into borrowing 100,000, I've done all the research in the world, I'm not about to stupidly risk my home, don't just assume I'm some idiot that wants to be rich!!
Asked by racheypie - Thu Jul 30 06:17:22 2009 - - 7 Answers - 0 Comments

A. If you are earning a salary which would make repaying, in effect, 145,000 fairly easy, then you might get a lender to look at your project but at the moment I wouldn't get into property development as prices have further to fall. Don't be fooled by the latest housing data, the upswing is caused mainly by distressed sales and with people who have cash to buy. As more and more people get made redundant forced sales, repossessions will increase and prices will fall.
Answered by Mogseye - Thu Jul 30 06:32:39 2009

bad credit lender remortgage?
Q. I have had bad credit for the last 4 years and I needed to remortgage my house, I found a website called who recommended me a company on there who have been excellent to deal with and very good rates and the best company to deal with by far (in my opinion) I wanted to know if I could possibly ask for an additional amount and tell a bit of a porky by saying it is for something else so I can have some spare cash for myself. Has anyone else done this ? and if you have done it, what did you say the money was for ?
Asked by john w - Mon May 14 06:38:46 2007 - - 2 Answers - 0 Comments

A. Say it's for home improvements. They usually don't check unless it is for a huge thing like an extension or granny flat, etc.
Answered by katewearsconran - Thu May 17 11:37:01 2007

My ex wife was suppose to remortgage the house and has not complied with the court order. also pay the taxes?
Q. what can i do to make her comply. I represent myself
Asked by acesracin - Tue Jan 6 16:41:42 2009 - - 5 Answers - 0 Comments

If i remortgage my house for more than its worth, and then leave the country with the money, will they find me
Q. If i remortgage my house for more than its worth, and then leave the country with the money, will they find me
Asked by Fraudster - Fri Jul 7 08:31:25 2006 - - 13 Answers - 0 Comments

A. I tried that and they never forget. In the end they sent a cybanetic life form back from the future to hunt me down like a wild dog. He persued me cross country leaving a trial of destruction and death behind him. In the end he cornered me in factory where, handily, they had left a large vat of molten metal on over night. After a long struggle I untied his shoe laces, he tripped over them and he fell into the said vat. I think its safe to do it now as they'd never send another one of those things back
Answered by Zecca - Fri Jul 7 08:46:22 2006

Can I remortgage a home bought using a home equity loan?
Q. I am about to purchase a foreclosure home. The bank will not accept financing and want the money outright. My parents are helping me by lending me the amount. They are taking out a home equity loan on their house and giving the money to me. Is there anyway I can remortgage my house or would I have to take out a home equity loan on my house to repay them? Also can a home equity loan be used as a tax write-off? Thanks in advance!!! I was told by the broker that financing was out of the question because it was missing a kitchen and and needs quite a bit of work and they've already taken a loss so they're only accepting a full payment. I need to clarify this more with my broker.
Asked by blah blah - Sat Jul 12 22:57:58 2008 - - 5 Answers - 0 Comments

A. You can write off the interest on a home equity loan on your taxes up to 100,000 of loan amount. If they took out a home equity loan for 110,000 they could write off 10/11ths of the interest, for example. As to the remortgaging question, sure you can typically put a mortgage on a property you own and use the $$$ for whatever you want, but the one million dollar question is - Why won't the bank accept financing? Assumedly whatever reason is keeping the bank from giving you a mortgage now, may keep them from giving you a mortgage once you own the place. Thus, I'd get it in my mind now (if I were in your shoes) that I'm either buying this house outright and it will stay that way, or I'm getting a loan before I buy the house (or possibly I… [cont.]
Answered by bull_rooster_aardvark - Sat Jul 12 23:07:19 2008

Hi is it possible to remortgage at 65?
Q. Hi would my my parents be able to take out a mortgage to the tune of 25% LTV my father is 65 self employed & still working & my mother is 60 working part time. Currently House is paid for.
Asked by bty56999079 - Thu Nov 26 12:58:10 2009 - - 5 Answers - 0 Comments

A. Assuming you are in US - Yes. The banks look at earnings, assets, LTV to make the decisions. If they are pulling a mortgage however, since rates are massively low, they should look at taking 50% at a minimum. I have a family member that just pulled an 80% LTV at age 70, so age is not the primary factor in determining a loan. I believe that would be discriminatory if it were.
Answered by Twitter Bird - Thu Nov 26 13:37:06 2009

How much money can I pay into my credit cards and bank account before I get asked the source of the money?
Q. Im clearing UK debts and the money is coming from a remortgage of my wifes house in Rep of Ireland. I will be transferring approx 30,000 into the UK to clear debts. However lots of the debts are less than 4000 and I could pay them of with a couple of installments without raising any eyebrows. My wife does not want the UK banks etc to start quizing or annoying her about her personal circumstances in Ireland etc.
Asked by Dm - Thu Jul 16 08:49:31 2009 - - 9 Answers - 0 Comments

A. Questions will be asked if it is cash. If it is a bank transfer then there shouldn't be a problem.
Answered by Robert D - Thu Jul 16 08:56:35 2009

Should i fix my remortgage for 5yrs or less?Plan to stay in house 10yrs.Only 1 earner as have young children!
Q. Should i fix my remortgage for 5yrs or less?Plan to stay in house 10yrs.Only 1 earner as have young children!
Asked by cookiejar - Sat Mar 1 17:56:01 2008 - - 1 Answers - 0 Comments

A. If you can fix the rate for the life of the loan. that way not surprises.
Answered by D J - Sat Mar 1 17:58:57 2008

Can I get a remortgage for my U.K. house from abroad?
Q. Can I get a remortgage for my U.K. house from abroad?
Asked by GARRY H - Mon May 19 06:13:30 2008 - - 1 Answers - 0 Comments

A. You will have to find someone who works international financing. It won't be easy and will take a long time, but it is possible.pp
Answered by ttpawpaw - Mon May 19 21:17:14 2008

How can you become rich from the property business?
Q. In hear people saying that you can become rich from buying and selling or renting out property but how does it all work. I mean how long after you buy it do you sell it? Or do you remortgage it? Do you have to own lots of houses?
Asked by nads - Fri Apr 27 20:03:37 2007 - - 4 Answers - 0 Comments

A. Real estate investment is a get rich slow scheme, not a get rich quick scheme. You have to be in it for the long haul. There are many books on the subject. Visit your local library. Most property increases in value slowly over time. It may fluctuate, but that's the way the economy works. You'll have to learn to handle uncertainty if you want to be a real estate investor. But, it's a heck of a lot better than investing in the stock market. However, it is actually possible for your property to decrease in value and you still make money, if the rental market is strong in your area. By renting out a property, you may find that it's in your best interest not to sell it after a while, because it's bringing in plenty of passive income, and,… [cont.]
Answered by The Real Deal - Fri Apr 27 20:51:32 2007

poor credit rating but want to remortgage... what can i do?
Q. my credit rating is poor, ive checked this is down to a loan and a credit card, i lost my job 3 yrs ago and got behind on payments, now im in a full time job and all is ok there have been 4 3yrs now. ive got 45000.00 equity in my house and want to remortgage only by 15000 to clear the debt off but my bank wont let me. im very annoyed at this i can easily afford the payments on the re mortgage, i want to clear my bad debts but they wont let me, i thought banks were meant to be helping the common person now we bloody own nearly all of them! im so annoyed at this, i feel im stuck now and don't know what to do??? we would like to move at the end of the year but wont be able to now as we cant get rid of these debts! can anyone suggest anything… [cont.]
Asked by meow22 - Wed Mar 18 08:42:28 2009 - - 3 Answers - 0 Comments

A. freecreditreport.hotusa.o rg - try this service to boost you credit score before getting loan. After credit repair you can get the loan with minimal interest rate.
Answered by Peter Y - Sat Mar 21 03:25:38 2009

Problems with our remortgage - solicitor to issue Court proceedings to ask the Court to sign the Transfer?
Q. We are remortgaging our property but it has come to our attention that the Land Registery do not have our name as owning the property - it is still in the previuos owners name. Obviously we are not at all happy with the solicitor who dealt with this 2 years ago. Now they say there was a problem because the previous owners got divorced and the lady signed in her new married name.They needed her Marriage Certificate to prove her change of name to the Land Registry. This they have been unable to obtain. They have requested that if they cannot supply the Marriage Certificate they supply us with the date and county in which she remarried so they can apply for a duplicate Marriage Certificate but the info wasnt forthcoming as she is living… [cont.]
Asked by littleone - Mon Mar 3 05:00:50 2008 - - 3 Answers - 0 Comments

A. What a horrible mess - what excuse does that pathetic solicitor have? Do you have a new (and hopefully much more efficient) lawyer who is working on it for you? I worked as a conveyancer for several years and have never come across this before, but I do hope you get it sorted out soon. Hope you aren't in any danger of losing your home - if it's a remortgage you should be okay, right? I would sue the backside off that solicitor and don't forget to include in your claim all the expenses you're now incurring, plus any extra interest you're paying as a result of being unable to remortage. And if the idiot is still practising, put in a complaint to the Office for the Supervision of Solicitors as well as the Law Society.
Answered by MartinaS - Mon Mar 3 05:12:34 2008

remortgage how long does it take?
Q. my ex wife is having to buy me out of my share of our marital house and is remortgaging with her new husband to do so. the y have been made and excepted there offer and have today signed the new deeds to the property to take me off them and put her new husband on them. my question is how long from this stage can i expect for the money to be released?
Asked by spiderman - Fri Jul 11 14:47:27 2008 - - 4 Answers - 0 Comments

A. Now they have signed the deeds, and provided everything else has been done by their solicitor such as a bankrupty search, which is needed for any kind of mortgage, then all that remains to be done is for their solicitor to request the mortgage monies for a specific date, which should be almost immediately. Funds are usually sent by telegraphic transfer which means that the solicitor won't have to wait for cheques to clear etc. Likewise, the monies should be able to be transferred direct into your account once received by the solicitors. Once the bank send through the money, then their solicitor should pass on the amount due to you. Your ex's solicitor will then send off the signed deeds to the Land Registry where your name will be… [cont.]
Answered by Carol1841 - Fri Jul 11 15:49:15 2008

Remortgaging the house I own to let it out.?
Q. I have recently separated from my partner, we own a house together and rather than sell it I would like to buy him out, remortgage the house as a 'buy to let' and rent it out to cover the mortgage. I have been looking at a few mortgages but it seems I have to earn over 25K per year (which I don't) to do it, would me already owning the house help me out in any way? is there any mortgage you know of for single applicants on low incomes? Any advice would be greatly appreciated.
Asked by Sim - Mon Mar 12 06:43:19 2007 - - 5 Answers - 0 Comments

A. Abbey national seem to be very good, and can often offer up to 5x your income. try a website called 'the mortgage warehouse' i think i have it in my bookmarks, here you go: try these ones too:
Answered by truelylo - Mon Mar 12 06:53:42 2007

Remortgage & Transfer Of Equity - Help Please?
Q. My partner is currently remortgaging our house to enable him to pay me half of my share of the equity as we are going our seperate ways. I just wondered if anyone knows:- a) How long does it take for the remortgage? b) Once an offer is made of a mortgage, how long for the transfer of equity and legal side to be finalised. My partner has the mortgage offer and now it is in solicitors hands for the transfer of equity and legal side, any idea's how long this may take???
Asked by ladyjk75 - Mon Jul 28 09:11:57 2008 - - 1 Answers - 0 Comments

A. Should not take longer than 1 month if you are in Australia. There are no complications here as it is only a transfer to an existing part owner. The problem is him getting the mortgage and since he already has been offered it should all be smooth sailing. I hope you will be able to buy your own with your equity portion. Sad times I'm sure. All the best anyway.
Answered by Unique H - Mon Jul 28 12:47:45 2008