Debt Consolidation Remortgages Explained
A Debt Consolidation Remortgage enables you to combine your debt into your mortgage loan. This will allow you to make one payment per month with just one interest payment. It can save on your overall outgoings, especially if you’re dealing with high interest rates on your debts.
A Debt Consolidation Remortgage isn’t for everyone. Your first step should be to speak to a mortgage broker like us who can advise whether this is the right choice for you.
As with all mortgages, the lender will need to understand whether you can afford to make the mortgage payments. They will want to look at your credit history and how and why you have accumulated your debt.
There’s no need to worry though. This is something that we have helped many of our clients with. We will support you throughout the entire process.
We will help you understand whether you can afford the additional mortgage payments. We will also look at whether other options would be more appropriate such as a further advance, a second charge mortgage or other types of debt management.
Contact us today to start talking and see how we can help.
YOU MAY HAVE TO PAY AN EARLY REPAYMENT CHARGE TO YOUR EXISTING LENDER IF YOU REMORTGAGE.
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.
Things to think about with a Debt Consolidation Remortgage
A Debt Consolidation Remortgage isn’t for everyone. Before you proceed down this route, it’s important you think about the following:
- You will be increasing the amount you owe on your mortgage loan.
- Would you incur any charges if you moved your mortgage?
- Can you afford additional mortgage payments?
- What additional risks would you incur if you increase your payments or mortgage term?
Don’t worry though. We will talk you through all the risks involved with remortgaging your home. We have helped many of our clients with Debt Consolidation Remortgages and we will support you throughout the whole process.
Contact us today to start talking and see how we can help.
How we work
- Personalised, hard working service
- We search 1000s of deals from across the market
- Detailed research to ensure you save money
- Take care of the paperwork to minimise stress
- By your side from application to completion
- The experience to get a good result for you
Why choose us?
We are not like other brokers. Our small, friendly team has over 80 years of experience in the mortgage and protection industry.
We have over 100 five star reviews on Google and over 90 verified reviews on VouchedFor. And we would love to work hard for you.
To speak to a member of the mortgage advice team about your Debt Consolidation Remortgage ring Your Mortgage Expert now on 01722 322683. Or complete a contact form using the link below.
Meet the team
Our small, friendly team is based in the heart of Salisbury, Wiltshire. But we can help you no matter where you live in the UK. Sometimes it’s nice to put a name to a face. So if you want to find out more about us, visit our Meet the Team page.
Our team has:
- Over 80 years of experience in the mortgage and protection industry
- All members of our customer facing team have mortgage qualifications
- We have over 80 five-star reviews on Google
- Have helped hundreds of people with the debt consolidation mortgages
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Email Dan AllenDan Allen - Mortgage Adviser
Dan Allen has worked in mortgages for over 10 years. He takes time to understand different lender criteria. His wealth of knowledge means he will know which lenders will work for you situation. -
Email Dan HarrisDan Harris - Mortgage Adviser
Dan Harris first started working in mortgages in 2004. Dan has great attention to detail and will do the hard work to ensure you get the right recommendation to help with your debt situation.