We know which lenders might give you the green light
We work closely with the major providers to bring you the right deal. Get access to well-trusted mortgage providers without the hard work. Plus, we work with over 80 lenders to ensure you find the most suitable option for your needs.
Accord Mortgages
Pepper Money
Barclays
Principality Intermediaries
Bluestone Mortgages
Buckinghamshire Building Society
Buy-to-Let by Foundation
Kensington
Metro Bank
Newcastle for Intermediaries
The Nottingham Building Society
Mansfield Building Society
Think carefully before securing debt against your home, your home may be repossessed if you do not keep up repayments on your mortgage or any debt secured on it.
What you need to know
Debt consolidation remortgage is the process of raising capital in order to secure previously unsecured debt, with the objective of either reducing their total monthly outgoings or to pay back debts more efficiently.
For example, if you were to remortgage your property and free up a lump sum of £7,000 to pay off an outstanding credit card debt in full, you may be saving yourself months of credit card repayments (and interest) against a slight monthly increase in your mortgage costs.
Read up all about debt consolidation remortgages in our debt consolidation FAQs here.
By adding short term debt to your mortgage you will pay more in interest over the long term.
What our customers say
Discover what our customers have to say about their experiences with us. Hear from those we've assisted in making their property and financial dreams a reality, and see how our commitment and expertise have made a difference.
We are with you every step of the way
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Our experts will handle all of the admin.
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keep you updated until completion.
Am I eligible for a debt consolidation remortgage?
Borrowing against your property to manage and reduce other debts is fairly common.
At Mortgage Wise, we are committed to helping people with different financial situations, starting with a chat to understand whether a debt consolidation remortgage is the right option for you.
Get in touch with us today by using one of the links above. Alternatively, you could call us directly on 03332070522 (our offices are open Mon-Fri, 9:00-7:30 pm).
Call us on 0333 207 0522 or arrange a call back below.
Top class service from the 1st phone call to Julie to getting everything sorted for completion.
Can't thank Julie enough for her time and effort on my remortgage.
Neil the adviser was excellent from the first visit till Julie took over ready for completion.
My remortgage wasn't an easy one but the team didn't give up until it was finished.
Thanks again, guys.
Damien J.
Top class service from the 1st phone
How we can help
Understand your situation: We work with you to understand and analyse your debt situation and whether debt consolidation is the right solution for you.
Tailored solution: We use our tools and experience to evaluate various options and come up with the most suitable recommendation to achieve your remortgage objectives, whether it be reducing your outgoings or repaying your debt over a more comfortable time frame.
Help you stay in control: We will continue to provide ongoing service in the form of reviews. Unlike other advisers, we stay appraised of your financial situation through yearly calls and look at ways to help you pay back your mortgage as efficiently as possible. We can also help with your financial planning, find out more by visiting www.wisefp.co.uk
FAQs
Here, we answer the most common questions about our financial services to help you make informed decisions. If you need more detailed information, our expert team is always available to assist.
Remortgaging involves switching your existing mortgage to a new lender or deal without moving home. It typically aims to get a better interest rate, reduce monthly payments, or release equity. The process involves applying for a new mortgage and using it to pay off your existing one.
The best time to remortgage is usually when your current mortgage deal is about to end, typically before the end of a fixed or discounted rate period to avoid reverting to the lender's higher standard variable rate (SVR). It’s also beneficial to remortgage if interest rates have dropped, your property value has significantly increased, or you need to borrow additional funds.
Remortgaging can involve various fees, such as early repayment charges (ERC) on your existing mortgage, valuation fees, legal fees, arrangement fees for the new mortgage, and any broker fees if you use a mortgage broker. It’s important to consider these costs when calculating the overall benefit of remortgaging.
The amount you can borrow depends on factors like your property's value, your income, existing debts, and the lender's criteria. Generally, lenders will offer up to a certain percentage of your property’s value, known as the loan-to-value ratio (LTV), and will assess your ability to repay based on affordability checks.
Benefits of remortgaging include lower interest rates, reduced monthly payments, releasing equity for other financial needs, and switching to a more suitable mortgage product. However, risks include incurring fees that outweigh the savings, extending the mortgage term which could increase the total amount paid, and the potential for higher interest rates if you don’t lock in a good deal.
Find your home improvements remortgage solution
By consolidating your debts into one repayment plan by remortgaging your property, you may be able to reduce your monthly outgoings. You would release some of your property's equity and use this to pay off other debts. At Mortgage Wise, we specialise in finding the right remortgage for you to help consolidate your debts. Get a quote or request a callback by clicking on the below button.
Is debt consolidation right for me?
It is important to understand that whilst repaying debts within the mortgage can potentially save you money, it could also end up costing more in the long run.
How can I reduce my monthly outgoings?
By consolidating debts it may be possible to reduce your overall monthly outgoings because the interest rates are generally more competitive.
How can I repay my debt quicker?
For some people, paying back their debts quicker and more efficiently is the main objective of a debt consolidation remortgage.
Speak to the experts
Mortgage Wise team are on hand to speak to you today. Whether you’re looking for a face-to-face appointment or a quick chat on the telephone, we are here to provide the mortgage broker advice you need for your next mortgage.
Let us handle everything
From application to liaising with lenders, solicitors and estate agents - we handle it all.
Our dedicated processing team to ensure your application is handled smoothly until the day you complete.
We provide a lifetime service
We’ve built our reputation on long lasting relationships with our clients. You will recieve regular contact from us beyond your initial application. When it’s time to remortgage, we will be in touch to discuss your options. Let Mortgage Wise take the hassle out of managing your mortgage.
Let us help you manage and overcome Defaults or County Court Judgments effectively
Achieve financial freedom with our personalized Debt Management Plans, tailored to your needs.
Take steps to improve your low credit score and secure a better financial future.
Our guides
In our our Guides section, you’ll find valuable resources to help you with various financial and property-related decisions. Whether you’re buying your first home, managing bad credit, exploring buy-to-let opportunities, or consolidating debt, we have the information you need. Our guides also cover topics like home improvements, interest-only mortgages, and remortgaging, providing you with the knowledge to make informed and confident choices.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage. Some buy to let mortgages are not regulated by the Financial Conduct Authority.
