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Remortgage and debt consolidation
BeingDebtFreeStartsHere
Posts: 333 Forumite
We are looking to remortgage and are thinking of adding our unsecured debts on to the mortgage to reduce our monthly outgoings. Our house is valued at £225,000. We have £147250 outstanding on the mortgage and approx £30,000 of unsecured debt. What would be our best options?
Thanks so much
Thanks so much
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Comments
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Interested in this too. Also the process.2
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The best option would be to seek debt advice.
We do have a debt-free wannabe board, you know...0 -
Turning unsecured debt into secured is a really bad idea, debt consolidation rarely works and often makes this worse. As said,
get debt advice, the DFW board is a good place to start.0 -
Don't add unsecured debt onto your mortgage. If you turn unsecured debt into secured debt, you could put the roof over your head at risk if you become ill or lose your job. Post on the debt free wannabe board and get amazing advice on how to clear your debt without risking your house.
MFW since March 2019Mortgage-free 30th June 2023
My Budget and Savings Diary https://forums.moneysavingexpert.com/discussion/6543308/making-a-budget-and-sticking-to-it#latest0
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