Remortgage to pay debt

Release equity to repay debt

Many customers remortgage to raise capital to repay or refinance debt.

 

Remortgages are often one of the cheapest ways of raising cash for debt consolidation, however, you should carefully consider the implications of securing the unsecured debt, such as credit cards and unsecured loans, against your home or other property you own.

 

You are in effect converting unsecured debt into a secured debt, resulting in you home being at risk of repossession if you do not keep up repayments on this new mortgage or other loan secured against it.

 

Additionally, whilst refinancing debt by way of a remortgage can reduce your monthly commitments, you can actually end up paying more back in mortgage interest over the term.

 

You should certainly consider closing those credit card and loan accounts completely to ensure that your situation is improving and that you do not use those credit facilities again - thus building up more debt.

 

Debt consolidation remortgages or loans can provide the right solution, in certain circumstances and our impartial mortgage experts will discuss the pros and cons of doing this.

 

To speak to one of our mortgage advisers call 01785 878 555 or fill in this form opposite and one of our friendly team will call you to discuss your individual remortgage requirements.

Other Types of Remortgages

Apply Now!

By submitting this form you agree to transfer personal data in accordance with our Privacy Statement

Ask Expert

Legal Information

YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP REPAYMENTS ON YOUR MORTGAGE OR OTHER LOAN SECURED UPON IT.

 

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.  REPAYING YOUR DEBTS OVER A LONGER PERIOD CAN REDUCE YOUR PAYMENTS BUT COULD INCREASE THE TOTAL INTEREST YOU PAY. 

 

 

The Money Bee, which is a trading style of Mortgage and Loans Limited, based in Stafford, (Financial Services Register number is 757812).

Terms and Conditions

There may be circumstances where we need to charge a fee.  In these instances, we will notify you at an early stage which could be £125 upon application and an arrangement fee up to £495, or £995 for specialist mortgages, on receipt of the mortgage offer.

 

Parkfield Business Centre, Park Street, Stafford, Staffordshire, ST17 4AL

Telephone 01785 878 555

Follow Us

  • White Facebook Icon
  • White Twitter Icon
  • White Instagram Icon

Contact Us

Parkfield Business Centre, Park Street, Stafford, Staffordshire , ST17 4AL