Remortgage for debt consolidation with bad credit
Pay off other debt and lower overall monthly payment

All your debts rolled up

Even if you have a history of bad credit a remortgage to debt consolidate is certainly possible. If you think consolidating your debt would benefit you and/or your unsecured debt monthly repayments are at risk of becoming unmanageable give Lawrie Mortgages a call .

An assessment of your current debt levels will be made to see if there is the option to remortgage thereby raising sufficient funds to repay all, or some, of your credit card, store card and personal loan debt. The aim will be to lower your current monthly outgoings giving you the opportuntiy to keep your future spending in check.

Your mortgage adviser will go through his recommended remortgage product so you understand every aspect of it. Once you are happy with the explanation and agree to move forward your mortgage adviser will perform a fee free lender agreement in principle.

Your mortgage adviser will ensure the lender agreement in principle will help your full remortgage application provide the expected outcome of mortgage offer. They will ensure the information provided for your agreement in principle can be verified, through documentation, at the full mortgage application stage thereby greatly reducing any unexpected lender underwriter queries.

What you need to know

When rolling up all your credit card debt, personal loans and store card debt into your mortgage you are securitising otherwise unsecured debt.

What does that mean to you?

This means that previously unsecured debt is now secured against your property. Moreover, you have increased the debt secured against your property and, possibly, the monthly mortgage repayment. If you do not keep up the mortgage repayments you are at risk of losing your home in a relatively short space of time. The same cannot be said if you were to fall behind with monthly repayments on unsecured debt.

Your mortgage adviser will make sure you completely understand the difference between unsecured and secured debt and what it means to you in your own situation.