Increasing debt

J

Jbjbjb

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Hi I have tracker mortgage since 2004. 133k left and value is 280-300k.joint mortgage with my dad as he still lives there alone and is 82.Im not earning what I used to now and owe credit union 20k and credit card 7k. Would i be able to remortgage and go interest only as eventually I won't be solvent
Thanks
 
It's possible that the lender would allow this.

But they shouldn't allow you to reschedule cheap debt to pay off expensive credit union and credit card debt.

Does you father pay you rent?

Where do you live?

Brendan
 
Hi Brendan
Dad doesn't pay any rent. He's on mortgage to safeguard roof over his head .when he passes on I will be getting rid of house as it's a thorn in my side. Baldoyle
Thanks
 
Last edited:
They might allow you go interest only but unlikely to remortgage to cover other debt and certainly not at the tracker rate, that part would be a new loan at today's rates if they did it.
 
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