Remortgage for Debt Consolidation

Benefits of a remortgage for debt consolidation include:

• Reducing monthly repayments and making your outgoings more manageable
• Providing equity for other purchases
• A fixed rate and financial peace of mind
• Potentially saving money with a better interest rate

When considering a remortgage for debt consolidation, it is important to remember that the debt will then be secured on your home.  You need to be sure you can afford the repayments, and take time to find the right deal for you.  You should also be aware of any fees a remortgage may come with, for example; exit or arrangement fees, charges for early repayment, legal fees, and mortgage valuation costs.

Check out the latest deals below and fill in our enquiry form to compare the market for the best rates and get free advice.

If you are thinking about remortgaging for debt consolidation purposes you may be finding it a little difficult to find an appropriate policy. For many, remortgaging their property is the ideal solution to managing their debts and consolidating them into one simple monthly repayment.

See the tables above and compare prices and policies on a number of different remortgage deals.

Remortgaging for the consolidation of your debts can be beneficial for a number of reasons. Some of the advantages include:

• Combining your debts into one manageable payment
• You may find a better policy and lower interest rates
• Releasing capital from you home can help you to pay back some of your debt

Although many people remortgage their property to consolidate debts, many people prefer not to due to some of the risks involved. For example:

• Charges for such things as valuation fees, early redemption charges, switch over fees etc could become expensive
• If you have other debt problems in the future your home could be in danger
• If you are unable to keep up to date with your mortgage repayments your home will be at risk

If you are considering remortgaging for debt consolidation then we recommend that you follow these tips below:

• Shopping around and comparing mortgage deals is a great way to find the best prices and policies that are available on the market
• If you are struggling to find an appropriate deal then you can always speak to a remortgage broker who specialises in finding the most suitable deals that meet your personal requirements
• Do not assume that the cheapest remortgage for debt consolidation offers are necessarily the best. On closer inspection you may find that the policy is not for you and the prices start to amount
• Be sure to choose the right product for you. Think about the type of rates you want whether it is a fixed rate, flexible rate or tracker rate

Our easy to use product comparison tables should help you in finding the best remortgage deal for you.