Gazundering

[yeo]

I remortgaged a few months ago on a 5 year fixed rate.No doubt the average rate will go down in that time but I know exactly what i will be paying for 5 years so thats good enough for me.Ive got about 40k equity in the house as well but the way I see it is even if your property is in negative equity it doesnt really matter as long as you can pay your mortgage dont move.

[janaage]

Paper loss Yeovil, if you don't move, you don't lose.

[pumbaa]

Its also worth noting that Mortgage companies are taking much more notice of credit card debts as well these days. For example, say you have earn 30K a year, manage to get a 5X mortgage deal (i.e. 150K), but have an outstanding card balance of 20K, the mortgage company will lower that mortgage offer to 130K instantly.

They don't seem to be as concerned about personal loans though, although they will bw taken into consideration regarding your ability to pay.

Also, if you have a dodgy credit history, you'll find it a struggle to find a good mortgage deal right now. They really are being more thorough with their lending criteria checks (which isn't being widely reported in the media though as the reason most people are finding it more difficult to find a suitable mortgage product.....)