- Remortgage to 90%
- Unlimited Consolidation
- Guarantors Considered
- Pension Income Considered
- No maximum age for residential & buy to let mortgages
- No Credit Scoring Application for Some Lenders
- Residential & Buy to Let Debt
Consolidation
Debt Consolidation Remortgage
There are certain situations where some of our clients have a number of debts, in addition to their existing mortgage such as loans, credit card balances and hire purchase agreements. In addition to their regular monthly mortgage payments, clients with additional debts make other monthly payments to cover the cost of repaying their outstanding debts.
We are typically asked if it is possible to have a single monthly payment for all debts, by increasing the amount of a client’s mortgage to raise funds to repay the debts. This is often called “Debt Consolidation” or “Debt Consolidation Remortgage”.
As an example, a client with the following debts wishes to have a single monthly payment:
- A mortgage* with a balance of £100,000 and monthly payments of £448 over 25 years
- A credit card with a balance of £5,000 and monthly minimum payments of £150
- A personal loan with a balance of £10,000 and monthly payments of £350 over 7 years