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Debt Consolidation Mortgage
What is Debt Consolidation & How does it work?
Debt consolidation is the process of replacing multiple debts, including your loans, credit card balances and mortgage, with one easy to manage payment.
It's a pretty simple process. Simply add your mortgage balance to what you owe on your credit cards and your loans and then add any additional cashback you require.
You'd sign an application form and return it with a few documents like payslips and your P60. The whole process can be completed within 3 - 4 Weeks. All your loans will be paid off for you, and you'll get a cheque with the cashback you requested.
PROS of Debt Consolidation:
- You'd have more money in your pocket every month.
- You can pay off your expensive loans
- Clear off your credit card balance
- Consolidate your loans and mortgage debts into one low monthly payment
- Reduce your monthly outgoings, often by 50% or more.
- And raise extra cash back for almost any reason.
CONS of Debt Consolidation:
- If you consolidate all your loans over the full mortgage term, you would pay more in interest overall. However, you could opt for a 'split mortgage' and pay off your short term debts over a shorter period than the rest of the mortgage to avoid this.
Debt Consolidation is a quick process:
- We'll provisionally approve your application within 24 - 72 hours
- You can get your cheque within 3 - 4 weeks of submitting a signed application.
So what’s the next step?
To find out how much more disposable income you’d have every month though debt consolidation, fill in this enquiry request form
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