Are you looking to consolidate your
debts into your mortgage?

debt consolidation mortgage a good idea

Consolidating some or all of your debts into your mortgage can help reduce your monthly outgoings

There are many reasons why consolidating your debts into your mortgage makes sense with the main advantage to reduce your monthly outgoings. We work with mortgage lenders who specialise in debt consolidation and can ensure you get the most suitable rates and terms.

What is a debt consolidation mortgage?

Debt consolidation mortgages are used to pay off debts like credit cards, overdrafts, payday loans, car loans and hire purchase agreements by using the equity in your home.

How does it work?

Expert Mortgage Advice

Review Your credit report to note and add up what debts you have

Remortgage to Pay Off Debt

Consider which debts should remain or be consolidated

Remortgage to Pay Off Loan

Speak to a mortgage broker who specialises in debt consolidation

Pat Traynor
Pat Traynor
2022-10-15
Paul was very helpful in sourcing the best equity release deal at a time of sudden increases in interest rates. He kept me Informed during the process and was always available to answer questions. I raised the money to help my daughter buy a bigger flat.
Tim Whitcher
Tim Whitcher
2022-10-09
Very professional and personable, Paul always had the time to ensure that we understood everything and that we got the best deal possible that was right for us.
Cally Bravington-Smith
Cally Bravington-Smith
2022-09-21
Paul has been exceptional during the course of this year helping us buy our next property, his support and guidance through a lengthy and tricky transaction was second to none. Paul is very personable, and unlike many other brokers would work outside the normal 9-5. Always had our best interests in the forefront. Highly recommend :-)
Charlotte Faucher
Charlotte Faucher
2022-09-19
Benefiting from Paul's expertise to help us secure our first mortgage was very precious. Paul was always available to answer any query we had, and he submitted our application very quickly once we had gathered our documentation. I've already recommended the company's services to friends!
Louisa Smurthwaite
Louisa Smurthwaite
2022-08-03
Paul helped me find a new mortgage. His knowledge was invaluable. Adding to this, he was extremely patient with me while we navigated some complex decisions. Thanks Paul, amazing service!
Sinead Ennis
Sinead Ennis
2022-07-18
The whole process of getting the right mortgage was made easy, with continued support all the way through. Highly recommended.
Daniel Lee
Daniel Lee
2022-06-17
My girlfriend and I are buying our first home and Paul has been absolutely fantastic every step of the way. He’s knowledgable, friendly and very approachable, regardless of the time of day, even replying to emails at gone 9 o’clock at night! Would definately recommend and will definately be using in the future!
Chris Healy
Chris Healy
2022-06-13
Paul has been incredibly helpful and informative every step of the process of me owning a property, as a first time buyer there was I lot I didn't know and he's really gone the extra mile for me.
Paul Ho
Paul Ho
2022-04-15
Paul's dedication, expertise and attention to detail was instrumental in securing the deal for my house purchase. In my opinion his fees was money very well spent, and would recommend him without hesitation.
Panos Savvas
Panos Savvas
2022-04-01
Paul worked with me and my wife to find the right mortgage and insurances needed for our new home. He's is very knowledgeable and professional. I never felt rushed or uniformed. He really went out of his way to ensure we had all the information we needed and guided us through the process. Beyond that Paul went above and beyond in working with our conveyancer and the estate agent to assist in our exchange and completion. I would not hesitate to recommend him or use him again in the future.

There are numerous debts you could look to consolidate into your mortgage

loand mortgage broker

Let's look at some of the typical debts that can be consolidated into your mortgage:

 

💳 Credit card debts

🚗 Car loans or Hire purchase agreements

🚨 Personal loans

📈 Overdrafts

💷 Payday loans

 

save interst from your mortgage

Having high-interest unsecured debts on things like credit cards and loans can start to affect your credit rating negatively if it all builds up too much, as mortgage lenders may start to worry you’re overstretching yourself and it can reduce the mortgage amount you can borrow in the end if your unsecured debts (like credit card and loans) are too high; either as the total amount you owe or the monthly payments you make each month.

IMPORTANT

Consolidating previously unsecured debts onto your property will mean those debts form part of your mortgage which is a secured debt on your home.

Debt consolidation may reduce your monthly payments but also may result in you paying more interest over the longer term. Your mortgage broker will consider carefully for you if this is sensible and advise you accordingly.

Debt consolidation is therefore an area where you should receive specialist advice to make sure you're not unnecessarily securing previously unsecured debts onto your property.

How much could You borrow?

The amount you could borrow will depend on how much equity you have available, your credit history (if there’s any previous bad credit, a remortgage with bad credit may also be possible), and if you meet a lender’s affordability criteria; so your current income is going to be a significant factor. 

get mrotgage with a debt

Debt consolidation mortgages can let you borrow up to 90% of the value of your property.

consolidate your debt in your mortgage

It will likely reduce your monthly payments but it may increase the overall interest you pay back.

home improve ment mortgage

Consolidation of recent costs incurred for home improvement is available. 

How can you save interest?

consolidate your debt

Putting your bills together could save you £100's per month and thousands in interest saved in total, especially if you have high-interest paying debts such as credit cards, pay day loans, and some type of personal loan. 

 

However, your mortgage broker will review if this is advisable to consider as by adding the debts to your mortgage you're spreading the cost of the debt potentially over many years; therefore paying more in interest in the long term. 

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Your broker is here to help

Often the lenders will make assumptions or even worse let the computer make the decision on whether to lend to you. This is where we step in and help advise and arrange to ensure you get the correct mortgage and consideration by the lender at the application stage and we present your application in the best possible light; therefore increasing your chances of acceptance at first application.

More useful pieces of information

Debt consolidation is not always the most suitable option, consolidating debts must be carefully considered. It will usually mean more interest over a longer repayment term and there may also be early repayment penalties on your current mortgage if you're looking to exit your current mortgage deal early, you should think carefully before securing other debts against your home. There are other ways to manage debt such as free debt advice charities, you can find out more by contacting the Money Advice Service as these services may be more suitable for you.

Why choose us

We’re experts in the field

✅Our team of brokers are specialists with helping to consolidate debts into your mortgage and can help you understand the most suitable options available to you and advise when you should or shouldn’t consolidate certain debts.

We can find great deals at speed

✅Access to over +90 lenders so you will get the most suitable rates and terms available with many of these lenders not available on the high street as they're exclusive to brokers.

relationship

✅Real relationships with the lenders so we can get your application pre-approved if your situation isn’t straightforward. Plus your mortgage broker is there answer all the questions you may have.

Rapid solutions

✅We’re quick, on our first call we will quickly establish your options and let you know the next steps so we can arrange everything promptly for you.

If you prefer to speak face to face we can also arrange a video call. 

Debt consolidation broker

Have you been struggling to make ends meet lately?

Putting your bills together could save you hundreds of pounds per month.

 

The goal of a debt consolidation mortgage is to consolidate your debt by using the equity in your property to pay off your unsecured debts to bring your monthly payments down. 

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
 
Your Property Financial Ltd (FCA Number:942504) is an appointed representative of PRIMIS Mortgage Network. PRIMIS Mortgage Network is a trading style of Personal Touch Financial Services Ltd (FCA Number: 187834) which is authorised and regulated by the Financial Conduct Authority.
 
We usually charge a fee for mortgage advice. The amount of the fee will depend upon your circumstances and will be discussed and agreed with you at the earliest opportunity.
 
The Financial Conduct Authority does not regulate some forms of buy-to-let, overseas and commercial mortgages.
 
Your Property Financial Ltd registered in England and Wales company number 12940973. Registered office address 5 Ducketts Wharf, South Street, Bishop’s Stortford, Herts, CM23 3AR.
 
The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.