Hi all,
I was silly enough to get a 125% mortgage almost 5 years ago but am fortunate enough to have a family member give me a large some of money to assist us move and effectively restructure our mortgage. The basic breakdown:
Mortgage: £142,000 (17K loan)
Left to pay: £137.000
House value: £125,000
Contribution from family: £115,000
Combined monthly income (before bills): £3854
How likely am I to be able to find another mortgage else where? Is this lump sum going to help me get a better mortgage elsewhere so we can find a larger home?