In certain circumstances you may be able to consolidate your debts through further borrowing.

Possible refinancing options include –

Remortgaging

By remortgaging you replace your existing mortgage agreement with a new mortgage without moving home. If you have sufficient equity in your property you may be able to use it to pay off other debts. Consolidating your debts in this way can be a good way to lower your interest as well as make managing your finances easier.

Secured Loans

For people who have equity in their property but are unable to remortgage it may be possible to take out an additional loan secured against your home.

Equity Release

If you are at an age where remortgaging isn't a viable option you may instead be eligible to apply for an equity release. Under an equity release scheme you receive a lump sum of money secured against your home.

Impartial Debt Refinancing and Consolidation Advice

As part of Spencer Hayes we can provide impartial advice for people who may be able to consolidate their debts through further borrowing. Fully authorised by the Financial Services Authority we have direct access to specialist lenders dealing with a wide range of financial circumstances.

For more information call our freephone number 0800 0435043 or complete our enquiry form.

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