If you have outstanding debt, such as credit cards, store cards or personal loans then you might want to consider a remortgage so you can consolidate your existing debt.
A remortgage means that you consolidate your debts into a remortgage so you only have one payment to make to all your debts.
If you are thinking of taking out a remortgage it can offer you some real benefits. This includes a much lower interest rate than what could be offered by your unsecured lender.
You must make sure that you can afford your remortgage as failure to keep up on repayments will put your home at risk.
For more information contact our advisors on 0808 131 9112.THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERM OF DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY.
For mortgages and re-mortgages the overall cost for comparison is 5.5% APR variable and for secured loans 14.5% APR variable. The actual rate will depend upon your circumstances. Ask for a personalised illustration. A broker fee may be payable on completion, and will depend on your circumstances. For mortgages and re-mortgages this fee is typically between 0% and 3% of the gross mortgage amount, subject to a minimum of £2,495 and a maximum of £3,995. For secured loans, the fee is typically between 0% and 10% of the loan value.