Debt Consolidation Remortgages
INCREASE YOUR CURRENT MORTGAGE TO REDUCE YOUR MONTHLY OUTGOINGS
What is a debt consolidation mortgage (or remortgage)?
Simply, this is when you remortgage your current mortgage and increase the mortgage advance to include other debts.This type of remortgage is very common and can reduce your monthly financial outgoings.
There are some mortgage lenders that do not allow debt consolidation. However, but they still may deduct your debt from your income, even if it is being consolidated on completion of the remortgage. This could affect the mortgage advance available.
Contact Vincent Burch mortgage advisers today! We can advise on who could offer you the best rate, and achieve the required mortgage advance for debt consolidation.
Beware: if you cannot keep up your monthly mortgage repayments, securing an unsecured debt against your home means you might lose your home. Typically, consolidating a debt in your mortgage means the loan is over a longer period of time. Quite often, this means you will repay more in interest repayments in total.