In short, debt consolidation means taking out a single loan to pay off other existing debts. It may be advisable to consolidate debt if you are paying off high interest credit card debt, store cards, an overdraft or loans.
By consolidating all of your debts you are then left with one, more manageable amount to pay each month – with a lower rate of interest.
Why would I consider debt consolidation?
To replace multiple loan and credit card payments with one, single low interest monthly payment.
Reduce your overall monthly commitments.
Reduce rates on high interest credit cards, store cards, overdrafts and loans.
Easier to manage and keep track of where you’re up to.
Reduce your payments without affecting your credit rating.
How do we consolidate your debts?
By comparing a wide range of options, our qualified mortgage advisers can recommend the right one for you based on your circumstances.
We start by looking at your monthly commitments and requirements to find the right solution for you.
Once we find the right avenue to take, we take care of all the paperwork and administration on your behalf.
EXPERT, UNBIASED ADVICE
Remortgaging could consolidate all of these different debts into one lower monthly payment.
While this could reduce monthly payments, it may mean you may more in the long term, so it’s essential to consult the right, professional advice.
Need more information?
Still unsure about whether this is the right path to take? Speaking to one of our advisers is a great way to clear everything up and talk through the options available to you. We’re experts in our field and we really know our stuff.
Talk to us
If you're unsure and need some advice just give us a call, our expert team of advisers are available to help you choose the mortgage that is right for you.
Where you have a complaint or dispute with us and we are unable to resolve this to your satisfaction then we are obliged to offer you the Financial Ombudsman Service to help resolve this. Please see the following link for further details: http://financial-ombudsman.org.uk
Your mortgage will be secured against your property.
Your home may be repossessed if you do not keep up repayments on your mortgage.
For mortgages we can be paid by commission, or a fee of usually 1% of the loan amount.
TaylorMade Finance Ltd is authorised and regulated by the Financial Conduct Authority.
The Financial Conduct Authority does not regulate Will Writing and some aspects of estate planning. Buy-to-Let Mortgages and Secured Loans.
The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.