It is possible to consolidate debt by remortgaging. Essentially, you remortgage your property with a lender to release equity and raise money. You then use this money to pay off unsecured debts.
Instead of multiple unsecured debts, you have a single monthly payment that you make to the lender. This payment is made up of a mortgage repayment and interest.
Debt consolidation can help you clear debts, save yourself stress and organise your finances. However, it’s important to note that you could end up paying more overall with a debt consolidation remortgage, than if you had continued to manage your unsecured debts, as the mortgage will be spread over a longer term – i.e. you would be paying interest for longer.
We aim to make our clients lifelong clients. A large part of our business is saving you money by finding you the best deal available. We will take control of the process and manage the lenders and any other parties to make it as hassle free as possible for you.
We want to ensure that you have the best understanding and knowledge when it comes to planning your future.
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