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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To remortgage to pay off debt?

28 replies

Helpwithfinances · 14/09/2023 08:13

I have around 7k in credit card debt after a couple of big house purchases (roof repairs / boiler not silly things).

I earn £2,500 per month and have monthly mortgage £700, plus £200 gas and heating, £200 council tax, £300 car payments. With cost of living, credit card payments etc I’m in the red every month and barely making the minimum payments.

£450 overdraft for eg.

has anyone remortgaged to consolidate debt?

OP posts:
Original poster
Helpwithfinances · 16/09/2023 23:06

Thanks all. I went for the 0% card and transferred my debts.

OP posts:
Lolaandbehold · 16/09/2023 23:11

Changing your unsecured debt to secured debt by remortgaging may put your home at risk. Why would you do that?

Original poster
Helpwithfinances · 16/09/2023 23:19

@Lolaandbehold i didn’t. I just updated to say I transferred my debt to 0% credit card

OP posts:
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