desperate to downsize!!

[bluebluecow]

we have a 115k mtge on our house with 75k equity. we have never missed a mtge payment in our lives but now are on a debt management plan for unsecured credit card debt. We really want to downsize and have found a property where we would only need a 40k mtge if we sold as opposed to the 118k we have now. it would also mean we could settle our debts. We would need to take out a new mtge, my question is would any lender touch us with a barge pole??

As a new customer, I doubt it as your credit rating would probaby show your debt management history; BUT provided you're paying that back reliably it might not be as bad as you think.
Might it be worth asking your curent provider if you could instead port your current mortgage over to any new house? Especially if that will reduce the size of it, you could drop it to £50k rather than £40k and use the £10k of equity to pay off your credit cards. Try looking at the moneysavingexpert forum, they have loads of ideas about minimising debts and mortgage set ups. Good luck!

thank you for taking the time to reply. our provider doesn't actually offer mortgages any more so I dont think that would be an option. I will check out the money saving website though.