Secured Loan Hell

[princess81]

My Partner has a flat with a mortgage of �80K and 2 secured loans 1 for �15K and 1 for �27K. The property is only worth about 120K at the moment. He is paying �1180.00 per month on all of the above. Does anyone know of any company that would considor a remortage taking into account my earings etc and reducing the monthly payment. He also has terrible credit rating with 2 CCJ's. We are just stuck now it seems I am 25 and want to start a family but cant as we only live in a 1 bedroom 2nd floor flat. There must be something we can do??? Thanks x

[buildersmate]

I guess this is stating the blindingly obvious, but the normal way to reduce the total outgoings is to consolidate a higher rate of interest paid on secured or unsecured loans into a mortage. But since the total of all these loans equals the value of the flat, no mortgage company is likely to want to do this - too risky for them in the event you defaulted.