Credit card debt consolidation through re-mortgage

LokiPerry

Is it true that you cannot consolidate 0% credit card debt by re-mortgaging, That your credit card debt needs to be on a higher interest rate than you mortgage rate?

Grumpelstiltskin

Why would you want to turn unsecured debt to secured debt?

born_again

LokiPerry said:

Is it true that you cannot consolidate 0% credit card debt by re-mortgaging, That your credit card debt needs to be on a higher interest rate than you mortgage rate?

No..
But as above why would you... 

Part of the process would be that the cards would need to pay closed & paid off. 

sammyjammy

Absolute nonsense but it would be a very silly thing to do, particularly if they were 0% interest.

Nebulous2

sammyjammy said:

Absolute nonsense but it would be a very silly thing to do, particularly if they were 0% interest.

Generally yes - but it depends on the circumstances.

 We've had people on here concerned about credit card debt, who have incurred large debts refurbishing their home. In those circumstances it could make perfect sense to remortgage after the work is finished. 

eskbanker

LokiPerry said:

Is it true that you cannot consolidate 0% credit card debt by re-mortgaging, That your credit card debt needs to be on a higher interest rate than you mortgage rate?

Further to the above answers, if you have enough credit card debt to be considering drastic measures to 'consolidate' it, then it would probably be worth stepping back and evaluating the better options for dealing with the debts, starting by posting over at https://forums.moneysavingexpert.com/categories/debt-free-wannabe