If you are struggling with several debts and feeling overwhelmed, a debt consolidation mortgage could be the solution. Manage all of your debts with one simple monthly payment — and let JG Mortgage Services Limited guide you every step of the way.
A debt consolidation mortgage is where your other outstanding debt payments are added onto your mortgage each month. These debts can include credit card loans and bank loan payments.
If you want to retake control of your finances so you understand exactly where and when everything is being paid off, debt consolidation mortgages are a great way to do so.
There are several different ways that you can go about a debt consolidation mortgage. You can either remortgage your home and use the money to pay off other debts, or you can take out a new loan against your home to pay off other debts.
Mortgage debt consolidation lets you combine a variety of common debts into a single payment.
High-interest credit card balances can be paid off by consolidating them into a single, lower-interest loan.
Loans that aren't secured against an asset such as a car or home can be included in your consolidation.
Like credit cards, outstanding store card balances can be rolled into your mortgage.
You can use the loan to clear any persistent overdraft balances on your bank account.
Short-term, high-interest payday loans can be combined into a longer-term, lower-interest mortgage loan.
Speak to our team about any additional debts you'd like to consolidate — we'll review your full picture.
Eligibility for a debt consolidation mortgage depends on several factors. Here’s a breakdown of what you need to review before moving forward:
Your credit score is key. Lenders use it to assess risk and set your interest rate. Check yours via Experian, Equifax, or TransUnion.
Lenders evaluate your income, expenses, and employment stability to confirm you can comfortably repay the new mortgage.
Loan-to-Value compares your loan to your property's value. A lower LTV improves your chances — e.g. £150k owed on a £200k home = 75% LTV.
A mortgage broker can assess your situation, advise on eligibility, and find the best deals available to you.
The more equity you hold, the easier it is to borrow. Rising local prices may unlock more options for you.
Start your first time buyer journey by speaking with one of our mortgage experts.
Call us today to speak to one of our mortgage professionals: 01244 738422
Debt consolidation mortgages offer several key benefits:
Note: consolidating debts into your mortgage may extend the repayment term, which could mean more interest paid overall.
It is important to note that yes, there are certain risks associated with debt consolidation that you should be aware of.
These include:
If you’re considering a debt consolidation mortgage, seeking expert advice is crucial. At JG Mortgage Services LTD, we specialise in helping clients manage and consolidate their debts through tailored mortgage solutions.
Our team of experienced mortgage brokers will guide you through the process, ensuring you make informed decisions about your financial future.
We’ll work with you to assess your unique situation, explain the pros and cons, and ensure you’re getting the best possible deal. From initial consultation to completion, we’re here to support you every step of the way.
At JG Mortgages, our mortgage brokers in Chester have access to a panel of high street and specialist lenders. We help you find the best mortgage for your personal situation, thanks to our knowledge, reliability, and jargon-free service. Appointments are available seven days a week, either online, by phone, or in person.
Our three core principles are trust, respect, and integrity. We always put our customers first and have their best interests at heart by providing the best-suited service and bespoke advice.
Fill out our contact form today to arrange an appointment with your Chester mortgage broker.
