A debt consolidation mortgage allows you to remortgage your home and use the additional borrowing to pay off existing debts, such as credit cards and personal loans.
It depends on your current interest rates and repayment terms. A mortgage usually has a lower interest rate than credit cards or loans, but the repayment term is often longer, so you may pay more over time.
Some lenders offer debt consolidation mortgages to those with poor credit, but the terms may not be as favorable. We work with specialist lenders to find the best solution for your situation.
Initially, consolidating debts may have a small impact on your credit score, but making regular payments on time can improve your credit rating in the long run.
Since the debts become secured against your home, missing repayments could put your property at risk of repossession. It’s important to ensure affordability before proceeding
The process can take a few weeks, as it requires a full mortgage application, affordability checks, and property valuation. Our team ensures a smooth and efficient process.