loan to clear credit card debt?

[devonsmummy]

We took out a loan 4 yrs ago for a car and to clear credit card debt. this in turn was added to our mortgage when we remorgaged a coupe of years ago.

DH has since run up more debt on his cards - I cancelled mine.

would it be wise to take another loan to clear the card debt - as we only pay the minimum?

would it affect the amount we could borrow - as we plan to move in the not too distant future - or would leaving it on credit cards be the beter option?????

any advise appreciated TIA

If you can get a loan that is a cheaper interest rate than you're paying on credit cards then it can be a sensible way to pay back what you owe in a fixed length of time. Paying the minimum each month is a mug's game and will cost you a fortune. BUT. You have to be 100% confident that you can meet the monthly payments in full without going into more debt to meet day-to-day expenses DH has to cut up his cards if you do it, in other words, and stop spending money he doesn't have.

What mostly influences the amount you can borrow on a mortgage are your credit rating and your income. But, as a borrower, you have to personally take into account your disposable income.... i.e. your total income vs your total outgoings. Mortgage companies will lend you the cash but, if you can't afford to make the mortgage payments, day-to-day expenses, loan payments and have a bit spare for savings/emergencies then you will get into financial trouble very, very quickly