Bank good!

With a heart full of trepidation and angst I went to the RBS for the meeting today with Jack my "customer adviser"
It all went pretty well! I was immediately upfront, probably too upfront but hey ho at least he knew where I stood and said

"I'm in the poo and don't want you to try and sell me any products or further credit please"

I went through my big debts and the impending issue of DD2 and basically asked for his suggestions on how to reduce my level of overrall debt. In a nutshell his suggestion is to approach our mortgage provider to extend our mortgage to 90% loan to value and then repay a big chunk of the debt. He feels that nuking the credit rating is too risky as we may need to remortgage / move in the future and lenders are being so hard core in terms of high risk borrowers that he thinks it's worth protecting the credit rating if possible.

My initial reaction is
"gaaaaah a secured loan to pay off all the rubbish I've spent money on is a shite concept"
but also
"hmmm makes sense to pay debtors off at 4% rather than 18% +"

Any thoughts?

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