Remortgaging and debt consolidation

✓   Write off unaffordable debt
✓   One monthly repayment
✓   Only pay what you can afford
✓   Become debt free

Bennett Jones is associated with The Debt Advisor Limited who are authorised and regulated by the Financial Conduct Authority to provide debt advice. An IVA may not be suitable in all circumstances. Fees may apply. Entering into an IVA will affect your credit rating. You could write off up to 80% of your debts upon successful completion of an IVA.(10% of our customers wrote off 80% in the last 12 months, with a typical figure of 25%-75%).

See if you are eligible

Remortgaging to consolidate debt means using the equity in your property as security for a mortgage to repay your existing debts.

The process involves obtaining a new mortgage to pay off the current mortgage, as well as other debts you may need to clear. This is known as remortgaging for debt consolidation. A remortgage can be an effective solution for some homeowners who are struggling with debt. More often than not, remortgaging is a case of finding the right deal from the right lender at the right time. If you’re familiar with the marketplace and understand the risks, remortgaging can be an excellent method to pay back your debts. But it's not suitable for every homeowner.


Bennett Jones has helped thousands of people solve their debt problems without the need to remortgage. We can offer a debt write off solution called an IVA. An IVA freezes interest and cuts your monthly repayments to an affordable level. Better still, any debt left unpaid when the term finishes is written off. The exact amount of your monthly payment will depend on your circumstances but can start from as low as £70. If you are a homeowner, once your IVA is approved your home is protected. If you have a private pension this will also be protected.

Should I consider remortgaging to consolidate my debts?

When implemented wisely, remortgaging can significantly reduce the monthly repayments required to repay your debts. In some cases, you’ll be financially stronger in the long-term as interest payments on remortgages are typically less than those charged on unsecured loans and credit agreements.

On the other hand, remortgaging does mean you’re likely to pay over a longer period of time. Depending on the agreement, this may result in higher overall payments due to interest. Furthermore, when you agree to a remortgage, your property is pledged as security to the mortgagee. If you fail to pay the mortgage repayments your house could be at risk of being repossessed.

How Bennett Jones can help

Our trusted partner, The Debt Advisor Ltd, can provide you with information about remortgaging to consolidate your debts so that you can consider this information, alongside other options, for resolving your financial difficulties. Speak with an advisor today to take advantage of the information we can provide. If you’d like to set up an appointment to discuss your finances in further detail, you can also use our contact form to arrange a full consultation.