Over the past decade, house price inflation has given many people much
greater equity in their homes, meaning a remortgage can often
be used to release enough funds to pay off all their other
debts. Depending on the size of your debt and overall income,
this means you may only have to pay your mortgage payment
each month.
Remortgaging will normally achieve
a lower rate of interest than Debt
Consolidation, but bear in mind your home could be at
risk if you fail to keep up with the repayments. However,
if you have a number of separate debts with relatively high
rates of interest, remortgaging can prove to be an excellent
solution.
Through our leading panel of experts,
EmployeeDebtline provides access
to one of the most comprehensive range of mortgages available
in the market, giving you peace of mind knowing that you will
be getting the best remortgage available to you.
Advantages
¤
your existing creditors
can be paid off in full, removing the stress of
further demands
¤
avoids having to sell
your home
¤
you make only one affordable
monthly payment, usually at a very low rate of
interest
¤
your credit rating is
unaffected, so your ability to borrow money remains
in tact
¤
avoids the trauma of
bankruptcy
¤
keeps your details out
of the local newspapers
¤
does not affect your
ability to hold certain jobs or act as a company
director
Disadvantages
¤
remains secured against
your home, so this could be at risk if repayments
are not kept up
¤
interest continues to be
paid over the period of your mortgage
¤
can involve additional
costs depending on your existing mortgage, although
these may be offset
¤
only available to homeowners,
typically with spare equity in their property
If you think a Remortgage might be right for you, or would simply
like to discuss the options available, then contact
us now for immediate help. Our friendly team of experts
will listen to your individual circumstances and provide you
with clear, honest and impartial advice. We are always happy
to help.
