Is a debt consolidation mortgage right for me?

Debt consolidation mortgages

A debt consolidation mortgage is a mortgage that's big enough to pay off your original mortgage and your unsecured debts. By taking out this type of mortgage you could lower your monthly payments.

You'd owe more to your mortgage provider, but you'd wipe out your other debts, so you'd have just one repayment to make every month – your mortgage.

If you're struggling to keep track of your debts, a debt consolidation mortgage could be the answer.

Apart from making your monthly budgeting far easier to manage, a debt consolidation mortgage could seriously lower your monthly payments, since it will probably come with a much lower interest rate than unsecured debts such as credit cards, store cards, personal loans and overdrafts.

It's also possible to reduce your monthly payments by arranging to repay your new mortgage over a longer period - although this will increase the total cost, as the money will spend longer gathering interest.

Why would I need a bad credit mortgage?

Bad credit mortgages

Having a bad credit rating doesn't mean you can't get a mortgage.

At Think Money, we specialise in finding mortgages for everyone, regardless of financial history. We work with a wide range of lenders, so there's an excellent chance we can find the perfect mortgage for you, whatever your circumstances.

If your credit history isn't as good as it could be, many mortgage providers won't give you a mortgage. Being refused isn't just depressing – multiple refusals in a short space of time can look bad on your credit file, making it even harder to find the mortgage you're looking for.

It's another good reason to talk to Think Money. Different mortgage providers have different ideas of what's important, and we've worked with a wide range of them for a long time. We'll know who's the most likely to say 'yes' to someone in your situation, giving you the mortgage you need.

Remember: Making regular payments to a mortgage is a good way to improve your credit rating.

mortgage

What can affect my mortgage repayments?
Interest rate

If you choose a tracker or variable-rate mortgage, your repayments are liable to change each time the rates change. Alternatively, a fixed-rate mortgage means your payments stay the same. Our mortgage calculator lets you see how much you'll pay at various rates.
Repayment period

The longer your repayment period, the lower your monthly repayments will be – although you will end up paying more in the long run. Using our calculator, you can see how much the repayment period could affect your monthly outgoings.
Type of mortgage – repayment or interest-only?

With a repayment mortgage, you will repay what you have borrowed, plus interest. An interest-only mortgage means your repayments will be lower, but you will have to repay what you have borrowed

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Let us help find your mortgage

At Think Mortgages, we understand that finding the right mortgage deal can be a chore. We specialise in finding mortgage deals that are perfectly suited to your individual needs.

Our expert advisers will discuss your situation in depth to establish exactly what you’re looking for. Once we have your details, we do the rest of the work on your behalf, leaving you to relax.

Need mortgage advice?

If it’s just advice you’re looking for, our advisers will be more than happy to help. We can answer any questions you have about mortgages, and we could even help you if you are struggling with your existing mortgage.

Remortgage

Whether you’re coming to the end of an existing deal or simply looking for a change, we can help you find a great remortgage deal.

A remortgage is often a great opportunity to save money on your monthly payments. Call us and one of our expert advisers will explain what kind of remortgage deal could benefit you the most.

Remortgage at the end of a good deal

Remortgage at the end of a good deal

When you reach the end of a fixed-rate, discounted or capped deal, you'll probably start paying the lender's standard variable rate (SVR), which is often 1-2% higher.

It makes sense to check out your options before this happens. You need to find out how much more that SVR deal would cost you, and how much you could save by switching to a new fixed-rate, discounted or capped deal.

But before you make any decisions, you should talk to a mortgage adviser about the costs involved – any early repayment charges you'd incur by leaving the old mortgage, as well as the cost of taking out a new mortgage.

If the savings outweigh the cost, it's probably worth remortgaging.

To talk to one of our specialist mortgage advisers, call us today on freephone 0800 195 2913

The overall cost for comparison is 5.7% APR (typical).

Remortgage to consolidate your debts

Remortgage to consolidate your debts

If you're struggling to pay off lots of unsecured debts, a debt consolidation mortgage could be the ideal solution for you. You could take out a new mortgage that's big enough to pay off your original mortgage and your other debts.

You'd owe more to your mortgage provider, but you'd wipe out your other debts.

You could dramatically lower your monthly payments, since your remortgage will probably come with a much lower APR than your unsecured debts. Plus, you could make your monthly finances a lot simpler, as you'd have just one repayment to make – your mortgage.

It is important to remember that spreading your payments over a longer term could mean that you pay more in the long run, and there are risks involved in adding other debts to your mortgage as you risk losing your home if you don't keep up with your payments

Remortgage

Welcome to the place to find the right remortgage for you! We have it all here – great products, great market, great prices and access to all of the relevant offers for you! We have tried to make your life as easy a possible because we fully understand that choosing a remortgage is something that you probably never foresaw yourself having to do. This can be disorienting as it is. As a result, you can find everything you need right here to make the right decision the second time around.

A good remortgage will fit you like a glove. Yes this is a cliché but it is also very apt! It will suit your personal circumstances, your financial situation and also make sure that any wants and needs that you currently have are taken care of. For example, if you have a family then you will most likely have little disposable income after the bills are paid. You may even struggle to afford the bills some months and so a good product can free up a little cash for you to enjoy whilst you keep on track with your mortgage repayments. If you live alone then your one income will really be stretched so looking for lower payments may give you that little bit of breathing space you need. Of course, there are many other circumstances not covered here but no matter where you are in life we can help you!

A remortgage is an excellent product to help you get back on your feet again, even if that only means lowering your repayments to help you cope with the strain of daily life now that the cost of living has risen dramatically. If you want to consolidate debts we can help you. If you want to have home improvements completed then we can help you. If you need a large purchase like a car then we can help you. We can even point you in the right direction to get a life insurance quote, saving you even more money.

The remortgage is an all purpose product but it will give you the time and space you deserve to get back on track and/or improve your financial flow so grasp it with both hands! As part of your financial review, why not visit our partners to get some endowment policy advice ?

ccj remortgage

A County Court Judgment (CCJ) is a decision by a court that says a person owes money to a creditor and that he has not met the obligations laid out by that creditor. It is beyond a default, which is often the cause of something as simple as a missed payment. A CCJ is more likely caused by consistent late payments or by multiple late payments.

Even a CCJ (called a Decree in Scotland) does not limit a person from being able to get a remortgage on a home. In some instances, it could even be the motivating factor behind the remortgage. The collateral in the home could serve as a motivation for lenders to extend the money. The type of loan could also answer other problems as well.

A CCJ remortgage could be a way to remove the judgment from a credit file. Normally, a CCJ will remain in a credit file for six years from the time of judgment. The exceptions: 1. If a person doesn't meet the terms of the original CCJ then it can be extended. 2. If a person pays satisfies the CCJ within 28 days of the judgment then it will be removed from the credit file immediately.

In order to be able to use a CCJ remortgage to satisfy the judgment in the 28 days, a person will have to move fast. It is important to find a company that can work under these terms, and that is interested in helping the consumer find the best answer for his situation.

Even a will not help if the person does not change the habits that led to the judgment in the first place. It is important that payments be kept up and consistently so, in order to keep future CCJ's from becoming a part of the credit file. Without this change, it is likely that the next judgment against the person will be far worse than the CCJ that was faced in the beginning.

self cert remortgage

A self cert(certification) remortgage is a mortgage in which you are able to declare your income without having to show substantial proof that you earn it. You may want to consider this type of mortgage if you have difficulty proving your income. In general most lenders perceive self certification as a greater risk and will charge a slightly higher interest rate. If you can prove your income then click here to read about status mortgages.

Most lenders require self-employed people to provide two to three years of financial accounts to prove their income. When you have only recently become self-employed this can prove a problem. Self certification could be the answer.

Self certification remortgages are based on a thorough search of your credit history, rather than proof of income. Self certification remortgages can carry higher interest rates than others in the market.

Many self employed people who are homeowners often have problems remortgaging as the amount they earn is not reflected in their yearly accounts, or they have outstanding CCJ's or mortgage arrears. Remortgages for the self employed and other people who find it hard to prove their income.

If you're one of the estimated 3.2 million self employed people in the UK, or have working styles which differ slightly from the norm, you'll benefit from using the services of an independent firm of mortgage brokers who specialise in arranging self certification remortgages & mortgages for the self employed, company directors, contractors and other people who find it hard to prove their income.

Historically lenders in the UK have taken a cautious view of the self employed, however a number of mainstream and specialist lenders who provide a solution for the self employed through self certification remortgages.

With a true self cert mortgage, you make a declaration as to what your income is, but you do not need to provide any proof. You simply state what your likely income will be, rather than providing documentary evidence such as accounts, P60s or payslips.

So whatever your circumstances, complete our and take the first step to getting a mortgage.

bad credit remortgage

If you wish to organise a bad credit remortgage don't just head automatically for a specialist. A good remortgage company will adjust its lending criteria to suit the times, thus lenders are constantly evolving to suit the remortgage UK market. As a result, some remortgage providers have adopted a more accommodating attitude towards bad credit.

Credit problems - the result of not being able to make a payment on a financial agreement - range from a small, unintended mispayment of a bill, to a large repeated mishandling of personal finance. A mortgage provider will be wary of lending a sizeable amount to someone with a proven track record of falling into arrears.

Self Employed Remortgage

There are millions of self-employed people in the UK. These people may have a problem finding self-employed mortgages from a high street lender. Those fortunate enough to be in standard full-time employment are basically guaranteed to be paid, and references from their employer can easily be obtained in proving their income. High street lenders may prefer this type of applicant as they see less risk involved.

If you are self-employed or perhaps working on a cash basis, you could be financially sound, and able to keep up your payments, but that doesn't make it any easier for you to prove you'll keep up payments to your new lender. They want to ensure that you'll be able to keep up payments for the term of your remortgage, not just over the next 12 months. If you are on a contract, you maybe are not guaranteed to get it renewed. You will need to look for a self-employed remortgage.

A high street lender will want to see a few years audited accounts from a qualified accountant or tax assessments before they usually consider you for a self employed remortgage.

Even if this information is available, your accountant may have assisted you in mitigating your annual tax bill by keeping your profits low. You may be able to get a self-employed remortgage by declaring your income or providing a declaration of affordability from your accountant.

Of course a secured loan is another option and you can find a at one of the fastest growing online lenders

Adverse Credit Remortgage UK?

Are you looking for an Adverse Credit Remortgage? Then don't worry!

If you have bad or adverse credit and need a remortgage please click here.

We work throughout the UK with FSA approved remortgage companies who will consider CCJs, mortgage arrears, bad credit, insolvency, uk arrears remortgage, IVA Remortgage mortgages and defaults with self certification.

If you are looking for a remortgage and have had bad debt or wish to consolidate your debt, carry out equity release for any purpose then Adverse Remortgage Specialist can help find a remortgage or bad credit remortgage for you. Apply now for a fast adverse credit remortgage call back..
Why do 100's of customers choose to contact us about an Adverse Credit Remortgage each week?
• No obligation
• Fast decisions
• High approval rate
• Fast loan cheque delivery



Finding Adverse Credit Remortgages is easy with our service. We have access to 100's of Remortgage Finance deals and can search through these in minutes. By appling online with us you can have a quote within minutes and with no obligation.

Bear in mind that an Adverse Credit Remortgage will be similar in how your normal mortgage works in that it is secured on your property. And once you apply for the remortgage our FSA approved lenders can start processing the paperwork within 24 hours.

So whether you have a remortgage with arrears or any level of bad credit we can help to find you a remortgage quickly and with ease.