Debt consolidation

When you re-mortgage you can frequently borrow extra money to repay your other loans debts and lower your monthly payments.

You can also raise extra money for home improvements, such as double glazing, rather than borrow from other sources at higher interest rates.

The amount you can borrow in this way depends upon the value of your property and the amount outstanding on your existing mortgage.  By consolidating your debts when you re-mortgage to another lender there will frequently be the opportunity to:-

• Reduce the interest rate on your existing mortgage and
• Reduce the interest rate charged on other debts and
• Spread the cost of other debts over a longer period and
• Have lower monthly payments or
• Keep your payments the same to repay the mortgage quicker.