Are you looking to consolidate existing credit into your mortgage? There are many reasons people look to consolidate the existing credit into their mortgage, these include:
- To reduce the total monthly payments
- To have a single manageable monthly payment
- To obtain a cheaper interest rate
- To spread cost over a longer term
We find many of our clients look to consolidate their existing credit to help reduce the monthly payment when they are struggling to make ends meet. While consolidating credit into your mortgage can dramatically reduce the monthly cost, it is important to remember that paying back the credit over a longer term can actually increase the total cost of repaying that debt. It is also important to consider that by consolidating unsecured credit into your mortgage that that debt becomes secured against your home and could put your home at risk of repossession if you fail to maintain your repayments.
If you have a bad credit history and are looking to remortgage to consolidate debt into your mortgage speak to us today for expert advice on your best way forward. We love helping our clients obtain the best mortgage for their circumstances whatever their credit history.
Call 01604 870 595 today!