Remortgage or Credit Card balance transfer

[remotecontrolowls]

We need a new boiler that we don't have funds for. We've been through a difficult time over the past few years and our savings have dwindled.

We also have other things that need doing on the house. We need a new bathroom, new carpets etc.

I have £10,000 on my credit card at the moment which is not great but is on balance transfer 0% for 18months.

DH has paid his CC off.

Mine is so high because I'm self-employed and, due to personal circumstances, was unable to work for a while and it's taken a while to build back up. I am working now however but it's still self-employed and unpredictable.

Family income is about £80k pa. Mortgage is about 10% of our house value (eg $50k mortgage on a £500k house).

Our options are

• put the boiler on DH's credit card and save up for the rest, once I've paid my CC off.
• Remortgage an extra £15k to do all the boiler, bathroom, home improvements that need doing
• Remortgage an extra £25k to do all of that and pay my credit card off.

Well I think until your debts are paid you’d be silly to take out any extra debt.

The boiler is the only thing you NEED, so I’d put that on credit card and save for the rest once you’ve paid your card off.

New carpets etc are of course nice, but aren’t essential, and when you already have debt adding to it to have new carpets isn’t a good idea.