What is Re-Mortgage?

If you are struggling with re-payments to your unsecured debts e.g. credit cards and loans, then a re-mortgage or secured loan could allow you to free up some cash to pay off some or all of these debts and reduce your monthly outgoings.

However, you must always think very carefully about securing further debts on your home. If you are unable to pay back those debts then your home could be repossessed.

Furthermore you would need equity in your property to be able to consolidate in this way and in many cases there are alternative ways to tackle your debts without borrowing further.

To explore your options it is a good idea to talk to one of our advisers for free and impartial advice.