this is going to be some horror reading for me im sure...but!

i will be doing 2 years at college and need money to pay my mortgage. i have some savings but nowhere near enough to keep the house bills under control for 2 years. i am looking at a 8 grand `career development loan' but if this is not approved (for what ever reason) i will have to think of something else.

i do need to remortgage very soon but getttin a cash sum along with my new mortgage while unemployed would not be easy im guessin??

im 27 and there seems to be very very little help for me, never been out of work, never been in debt (except mortgage...that cant be helped), never claimed benefits .....and im entitled to NO HELP. cheers!

p.s my house has doubled in value if that makes any difference.

:help: :help:

Realistically, it's going to be difficult. However, from what you've said it's unlikely a Career Development Loan would be turned down. This will also be the cheapest option as the government pay the interest on it while you're studying.

Re-mortgaging whilst at college will be quite difficult as you'll not pass their affordability criteria.

A couple of options - neither very nice:
1) could you work part time?
2) could you take in a(nother) lodger?

im going to work part time.. AND try to get another lodger and replace my current lodger when she goes..but lodgers are uncertain and sometimes takes ages to find the right one.

part time work is ok...i dont care what i do so will easy find work. but will only be doing maybe 3 days a week work. so doubt its much cash.

im sure i'll manage to stumble thru..its just scary!!! and i could do with a big cash sum so i dont av sleepless nights about losing my house

you should talk to your mortgage provider and remortgage before you leave work! then you will pass the criteria...

you may have to pay some fees but least will be no more sleepless nights ..

or talk to your mortgage provider and get them to extend your mortgage over the years ( most places allow your mortgage to go to retirement age) so would lower tha monthly payment and after 2 years and in work again you could increase payment..

alternatilvy speak to a financial advisor these are usually free sevices and they can look into it for you

One option might be to switch to an interest only mortgage for the time you're at college. However you should seek professional advice before doing anything like this.