Contact Deal Direct to discuss remortgaging to consolidate house-hold debt.

In the wake of the Brexit vote, home-owners are advised to look carefully at their finances. Reducing monthly spending could be one way to ensure you can cope with any mortgage rate rise.

Remortgage rates are currently low, and one way to reduce your outgoings is to consolidate your debt into one repayment by remortgaging.

According to the Office for National Statistics the average household debt currently stands at £11,800. If you are a home-owner who owes money on higher rate credit cards and loans, remortgaging could allow you to combine your debts into one lower rate monthly payment.

If you want to consolidate your debt now is a good time to do so. To get the most competitive rate available to keep your payments low, you are advised to search through every lenders’ range market wide.

However, as there are hundreds of re-mortgage products available in the market you might need help with your search. Seek help from an adviser at Deal Direct, we can help you to both increase your mortgage size to consolidate debt and switch to a lower rate offer than you are currently on.

Please note:

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. You should therefore think very 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 - these services may be more suitable for you. 

For advice and a low rate quote call 0800 048 8828.