Solution Mortgages News

Solution Mortgages news on bad credit remortgages, poor credit remortgages and for people with arrears & ccj’s. Remortgage news with regards to the adverse credit market and people with sub prime credit.

Tuesday, March 4, 2008

Remortgage - debt consolidation

If you have debts owing to a range of creditors and you are paying multiple payments each month which are becoming unmanageable, you may wish to consider a debt consolidation remortgage.

Debt consolidation is when you take your outstanding debts and consolidate them into one payment which has a lower interest rate than you are currently paying. This therefore lowers your monthly repayments and makes life easier.

A debt consolidation remortgage will carry a lower interest rate than any unsecured loan or second charge loan as a first charge mortgage provides better security for the lender which means they can offer a lower interest rate.

Securing your debts against your property needs to be considered carefully as failure to keep up with your payments will lead to repossession. You may also end up paying more for your debts by spreading them out over a longer period.

At Solution Mortgages, our experienced mortgage consultants will provide you with all the information you need to choose the right debt consolidation remortgage to suit you.

Solution Mortgages specialise in debt consolidation re-mortgages and have helped many people who have a bad credit history secure a remortgage to consolidate existing debt.

Whether you have County Court Judgments (CCJs), defaults, arrears on your mortgage or a poor credit rating, we should still be able to find a solution for you.

Solution Mortgages use a panel of specialist lenders who will consider applications from people with a poor credit history and we will do our utmost to find the right solution for you

If you are considering a debt consolidation remortgage please feel free to speak to Solution Mortgages on 0845 123 1260 or apply online at www.solution-mortgages.co.uk