Debt Consolidation Mortgages
Financial issues can happen at any time and your situation may change unexpectedly. Whether it is the need for unforeseen repairs, ill health, the loss of a job, or a family emergency, there may come a time where you need financial help. However, if these issues persist and you find yourself paying off a number of debts, a debt consolidation mortgage may be able to help. With this type of consolidation, you can use the equity in your property to help release yourself from your debts.
- Years of experience in the finance industry
- Large panel of debt consolidation loans lenders
- Personal approach to application reviews
- Bad credit applications considered
- Easy online application process
- FCA authorised, responsible broker service
We are a debt consolidation loan broker service, offering a large panel of lenders, many of whom provide debt consolidation mortgages. We take the time to personally check each application for your needs and affordability, then turn to our lenders to find the best solution for you. Once we have found the best debt consolidation mortgage for your requirements, the lender will be in touch with you to finalise your application.
If you are ready to start your application, simply apply online and our team will work quickly to return with a lending decision.
What Are Debt Consolidation Mortgages?
With a debt consolidation mortgage, you are able to use the equity in your home to pay off your debts. By applying for a debt consolidation remortgage, you will typically be offered a larger sum that covers both your existing mortgage and any debts that you wish to consolidate. This involves releasing some of the money you have already paid towards owning your home, which could reduce the amount of debt you owe overall, allow for easier budgeting, and remove some of the pressure from your finances.
Consolidating debts within a mortgage is a common way to handle finances that are becoming difficult to manage. Debt consolidation remortgages are popular because some lenders will ask for a form of security for the debt repayments, which would usually be the borrower’s home. In this case, the additional mortgage that is reserved to pay off your debts becomes known as a ‘second charge’.