Debt Consolidation

Debt consolidation involves borrowing additional money on top of your current mortgage to repay outstanding credit. By consolidating non-secured loans into your mortgage may make the monthly repayments easier, however, the interest is usually paid over a longer period, so may result in more interest being paid back over the term of the mortgage.

As with all loans, there are risks with debt consolidation, as your house could be repossessed if you don’t keep up with the repayments.

Our Mortgage Advisors will fully assess your financial commitments and circumstances then provide advice on the different options available.

A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME OR PROPERTY. YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.

You may have to pay an early repayment charge to your existing lender if you remortgage.