Debt consolidating remortgage loan brazil woman dating site
Financial situations can change for us all for a varying number of reasons, and for people who find themselves struggling with debt as a result, life can be tough.
The constant worry about how to keep everyone satisfied can eat away at you, and accumulating interest on money that you owe can make you feel like your finances are spiralling out of control, and land you in a situation that you may never get out of.
At the moment the maximum Loan to Value (LTV) is 90%, meaning that if your home is worth £100,000, the maximum that you could borrow – including your existing mortgage, would be £90,000.
If your house, for example is worth £250,000, and your current mortgage £110,000, you could borrow up to £225,000, giving you a lump sum of £115,000 to pay off your debts.
By consolidating some or all of your debts, it is also possible that you will save money on interest and instead of paying off a number of separate debts, customers can often drastically reduce their monthly outgoings, making debt less of a burden.
By doing this, you will release some of the equity that you have, giving you a lump sum that you can use to pay off the money that you are owing.Everybody`s situation is different and it would be foolish to say that the solution for each individual would be the same.It is therefore important that when you are deciding whether it is better for you to take out a secured loan or remortgage to pay off your debts, you carefully consider your personal situation, and ask for advice from an adviser such as us here at Just Mortgage Brokers.This is all still subject to the lenders assessment of affordability.Monthly Repayments In addition to the knowledge that you have paid off all of your debts, there can be substantial financial gains to remortgaging your property to consolidate your debts.