Asking parents to refinance home for him?!

Never mind the impact on his mental health what about his DPs??
Do they understand what he's actually asking them to do?( not suggesting they're stupid at all)
He's a big boy now and should sort his finances out himself!
You shouldn't be doing any research for him either
Yes, I'm hard hearted because life has taught me to be independent.

If it has got this bad he is better off going bankrupt surely? Presumably the late payments are just a fairy tale that don't exist.

He's repaying multiple thousands of pounds a month? How big is his debt?!!!! You don't just stumble into a 'pickle' with that sort of money involved!
He then thinks it's perfectly ok to ask his parents to bail him out and putting them in a very vulnerable position.
You've only been with him for a couple of years. I'd dump him and thank my lucky stars to be honest.

He says it will be bad for his mental health to move in with his parents...has he even considered what it would do to them to potentially make them homeless?

This man is showing you a whole range of personality traits that make him someone you should run far away from. I think you're already coming to that conclusion yourself though op. My ex is like this, thinks it's everyone else's responsibility to keep him afloat while he drowns everyone else in the process. He's not a good guy op, no decent person would do this to their parents. He's bankrupt, time he deals with that independently and faces the consequences. Oh and that money from the contracts...that ain't coming.

Jesus I’m glad you are rethinking the relationship! What he should be doing is moving back with his parents and trying everything to make extra cash (lots of seasonal jobs coming up for Christmas in the evenings.) He could ask his parents for a small loan to get legal advice to get these companies to pay up but that’s it.

Why does he think he’s entitled to have a flash lifestyle when he can’t afford it? Champagne taste, white lightning budget. Got to feel sorry for the mother of his child (children) who now isn’t getting maintenance because of his bad choices.

Ick

It would be a millstone round his parents necks and he will probably continue to get in a mess anyway if he is that useless.

And somewhere there is an ex that isn't getting the child maintenance that he is supposed to pay.

I don't care much about money but I wouldn't be able to tolerate someone that treats people like this.

Your boyfriend is me of life's suns, expects everything to revolve around him.

He's asked his parents to increase their financial burden and asked you for a handout in the meantime. When he has this money, what has he committed to changing so that he doesn't get into debt again as well as repaying his parents?

He's swapping one debt which has debtors who will demand payment for another debt owed to people he's hoping he won't actually have to pay back.

Run for the hills. He's selfish & only considers what works for him not the impact of his actions on others.

I don’t think there’s much to consider here. It’s glaringly obvious that he has no sense of responsibility. He’d rather ask his parents to risk their financial security in their older years than do without his own space. He is the very definition of entitlement. The minute I knew what he’d done I would have dumped him.

Unless there is a huge backstory and the debt is not his fault in any way, that's the bed he made. It's unlikely that he got himself into debt like that without seeing it coming before it got that bad, though.

How much in total does he owe?

The red flag here would cover a football pitch.

Even if he gets his debts paid now, he will still owe his parents AND continue to merrily build up debts in the future. A never ending cycle.

I think you would be much better off with a new boyfriend.

Doubt it will be approved given they must be nearing retirement.

I'd run. His mess and he's unlikely to improve. You don't need to be caught up in it.

Those poor parents - saddled with a selfish leech for a son.

I could not be with a man like this - his financial ineptitude will make your life a misery if you stay.

How are they going to pay their new huge mortgage?
I doubt a bank will lend them tbh.
I ve just taken a mortgage to buy a house witj DD. She has a deposit but low income so the mortgage is based on my income.
I'm 53 ...and earn 150k...the loan is 200k...I've had so many hoops to go through, prove I can pay, had to get legal advice to prove I understand the risks etc.
We can only have the mortgage over 17 yrs...
I also only have a tiny mortgage left on my house, have savings, no debts, etc.
It's taken 4 months to get to this point.

So presuming his parents are on their 60's ...they will only get a mortgage for a few years and repayments would be huge and they would need to prove they can meet them.

I suppose they may go down equity release..which is different to re mortgaging.

I can bet that in a few years he will be back in same position, and parents will be mortgaged up to hilt or lost all equity ...

Is it an equity release or a remortgage?

If it’s equity release his parents will need specialist advice before being able to do it, so hopefully a professional will be able to talk them out of it if it’s a really stupid idea.

Is he an only child?

They are mad to it. He's clearly not a good financial bet.

Next. Run!

That's worrying. Honestly I'd bin him off.

It's good that you can see this now before you go any further.

Ten years from now you could be emotionally and financially bled dry if you stay with him.

Is this a new relationship?

Have you seen Love Rats on Netflix? he might not be in complete scammer territory but some of the behaviours sound the same. Instill a sense of urgency, make you emotionally responsible for them, be unwilling to compromise their own lifestyle. It's a pattern of behaviour.