Blue-sky
Hello 

I would appreciate some help please. 

My husband and I would like to move house but I'm not sure if it's possible due to my outstanding debts which I am very ashamed off. 

Our house is worth about 280k, we owe about 140k so that's 140k equity.

Our joint income is 60k +. My husband being the main earner.

We have one child and minimal childcare costs. 

My debts are credit cards and about 14000. Always paid on time and slowly coming down. 

Ive recently finished off paying my car finance. 

What i wondered is it possible for us to buy a house for between 300 - 350, putting down 100k or so as a deposit and use the remaining equity to pay off my debts, and keeping the rest of it towards our costs?

Checked my credit report nothing adverse on there, all showing as paid on time. 

Not sure if this would even be possible. Thanks in advance for any help. X
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Hayley@simplyadverse
Hi there,

On face value this is achievable, but you will be close on lenders affordability.

As always the devil will be in the detail, but certainly this is not an unrealistic expectation.

You've done the right thing obtaining and checking your credit file and do provide this to any Mortgage Broker you speak with.

Good luck
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Blue-sky
Hi hayley

Thank you very much for your reply. 

I feel very silly to have racked up debt but good to hear it may not be impossible. 

Most of the houses we like are on the market for 325k so that means we could put down a 30% deposit.

I need to digest a few things my head is spinning with numbers at the moment! 

Thanks again. 






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Hayley@simplyadverse
Most welcome, it is a stressful time and when in a chain of selling and buying a property it can become even more pressured.
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