Debt Consolidation

 We understand that sometimes loans, HP and credit cards can get on top of you and costs can spiral out of control. Here at CFM Financial Planning, we do not judge anyone’s personal circumstances and will work towards a solution with you so as to enable you to take back control.

Remortgaging to consolidate debts is not suitable for everyone however it can be a solution to ease the pressures of mounting costs.

By releasing some of the equity in your house, this can enable you to clear all liabilities into one manageable monthly payment and ensure that your gross domestic expenditure is at a level that you are comfortable with.

The advantages of debt consolidation through a re-mortgage are that generally the rates are lower than those offered by credit card and finance companies. This is because the debt is secured against your home which in turn means that your house is at risk if you do not keep up with the repayments.

One of the disadvantages is that although your monthly payments would be lower, you could end up paying more due to the term of the mortgage meaning that you may pay more over the full term.

Debt consolidation is a very specialist subject, and a one size solution does not fit everyone. Here at CFM we have helped many families escape the entrapment of unmanageable debt and welcome the opportunity to help anyone who may be struggling.

We can assess your debts, see where we can make changes and arrange for a tailor-made solution from various lenders willing to facilitate debt consolidation.

As with any mortgage, debt consolidation would be fully underwritten and assessed by a lender to ensure that the new loan is affordable and manageable.

Please feel free to give us a call in confidence to discuss your options and we assure you of our best attention in seeing you get back on your feet.