Debt consolidation remortgages

Increase your current mortgage to reduce your monthly outgoings.

What is a debt consolidation mortgage (or remortgage)?

This is simply, 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. However, some mortgage lenders do not allow debt consolidation remortgage. There are some mortgage lenders that do not allow debt consolidation, but they still may deduct your debt from your income, even if it is being consolidated on completion of the remortgage and this could affect the mortgage advance available.

Contact our Mortgage Advisers, so we can advise on who could offer you the best rate, and achieve the required mortgage advance for debt consolidation.

Beware; securing an unsecured debt against your home, means, if you cannot keep up your monthly mortgage repayments, you might lose your home. Typically, by consolidating a debt in your mortgage may mean the loan is over a longer period of time, which quite often means, that you will repay more in interest repayments in total.

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Your home may be repossessed if you do not keep up repayments on a mortgage or any other debts secured on it. Think carefully before securing other debts against your home. Buy to let (pure) and commercial mortgages are not regulated by the FCA. No broker fee is charged typically; as commission received from the mortgage lender pays our minimum fee of £495 and any shortfall will be charged only on completion of your mortgage. Vincent Burch Ltd. is an Appointed Representative of JLM Mortgage Services Ltd., authorised and regulated by the Financial Conduct Authority, (FCA), registration number: 300629. The overall cost for comparison is 4.19% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.

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