DEBT CONSOLIDATION

As long as your property value exceeds your debts you may well qualify for a remortgage. We have access to the whole market place and have lenders waiting to give you a quote.

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As you are currently experiencing difficulties paying your debts, your credit rating may have already been affected. This though is something we at MortgageMap can help you with.

If you would like to see a free copy of your credit report from Experian then click this link. It will ask you to sign up for there service which costs £49.99 per year, though you get it free for 30 days and you can cancel it at the end of the free period without having to pay.

A debt consolidation remortgage will allow you to, in certain circumstances; reduce your monthly outgoings by up to half. Debt consolidation allows you to choose the repayment term you want, letting you pay one affordable repayment per month.

A debt consolidation re-mortgage allows you to settle current, existing higher rate borrowing and transfer all outstanding balances to one, lower rate borrowing facility. Having only one payment per month allows you to manage your household budget more easily.

Fixed rate re mortgage options are available to people who want a degree of certainty over their future budget.

Many borrowers can and do benefit from consolidating their debts on better interest rate terms. You may be able to consolidate debt at a significantly lower interest rate. For example, credit card debt that could be costing you 17.9% APR. Mortgage rates cost a fraction of that figure. There are downsides though that you should be aware of. Opting for a debt consolidation remortgage with lower monthly payments can make sense as long as you understand the reasons why the payments will be lower. You are usually on an extended repayment period and will pay back more interest in the long term.

Talk to a remortgage adviser about your options and choices regarding the best interest rates available.