Many homeowners will remortgage in Newcastle to release equity from their homes. There are many reasons why you could raise capital, from funding for home improvements to giving a deposit to help a family member climb the property ladder.
If you are struggling financially and every other avenue has been exhausted, then you might need to look at debt consolidation in Newcastle. Although a risky decision and not something to take lightly, remortgaging to release equity for debt consolidation purposes in Newcastle can be a way to combine your monthly expenses into another affordable monthly outgoing.
Providing clear and transparent mortgage advice in Newcastle, we will review your circumstances and help you determine if debt consolidation in Newcastle is the best option for you.
You should think carefully before securing other debts against your home. By adding your unsecured debt to your mortgage, which is secured on your home, you may endanger your home if you can’t make the necessary repayments.
Although the total monthly cost of servicing your debt may have been reduced, the total repayment cost may still have increased because the duration of your mortgage is longer than it may have taken to repay the original debts.