The Challenge

James and his partner had a mortgage on their home, but over the years they had also built up a number of other debts — a personal loan, two credit cards, and an overdraft. Each one had its own monthly payment and its own interest rate, and together they were putting real strain on the household budget. By the time they came to us, they were managing just fine, but there was very little left at the end of each month and the pressure was starting to take its toll.

They had heard that remortgaging to consolidate debts was an option, but didn't know whether it would work for them, or whether it would actually save them money.

Our Approach

We looked at James and his partner's full financial picture — their current mortgage deal, the equity they had built up in their home, and the total outstanding on each of their debts. We explained clearly how consolidation works: by rolling the debts into the mortgage, you benefit from a lower interest rate, but you are spreading the repayment over a longer term — and it's important to understand both sides of that.

Once they were comfortable with how it worked, we searched the whole market for the right remortgage product. We found a deal that allowed them to release enough equity to clear all outstanding debts, reduce their total monthly outgoings significantly, and still keep their mortgage term manageable.

The Outcome

James and his partner remortgaged onto a new deal with a loan of approximately £215,000, clearing all of their outstanding debts in the process. Their combined monthly outgoings dropped by over £400 per month — giving them meaningful breathing room in their budget and, more importantly, real peace of mind. Our fixed fee for the brokerage service was £399.

We were clear with them throughout that consolidating debts into a mortgage means paying interest over a longer period, and we made sure that trade-off made sense for their situation before recommending it.

If your monthly outgoings are feeling unmanageable and you own your home, a debt consolidation remortgage might be worth exploring. Get in touch — we'll give you an honest picture of whether it makes sense for you.

Your home may be repossessed if you do not keep up repayments on your mortgage. Think carefully before securing other debts against your home.

Frequently Asked Questions

Can I really get a mortgage with bad credit?

In many cases, yes — but it depends on the nature and age of the credit issue, your deposit, and your overall financial picture. Each case is assessed individually.

I've been turned down by my bank. Is it worth trying a broker?

Yes. Banks assess applications against their own criteria. A whole-of-market broker can access lenders with very different approaches, including specialist lenders set up specifically for complex cases.

Do complex cases cost more?

Our fixed fee is £399 regardless of case complexity. Lender rates may vary depending on your circumstances and the product available to you.

How do I get started?

Book a free 15-minute Mortgage Myth Check call. We'll find out about your situation and tell you honestly what your options are likely to be.

Ready to talk? Book your free 15-minute Mortgage Myth Check call today — no obligation, no jargon, just straight answers.