Is overspending keeping you awake at night?
One of your hopes for this year could be to experience life without the worry of debt hanging over your head. Debt can easily build up over time, especially with the increasing cost of living and the expense of Christmas, causing worry and anxiety about how to meet credit card and loan payments.
Are you looking for a new mortgage this year?
Carrying debt may change your level of affordability when it comes to searching for a new mortgage, especially with increased interest rates impacting this. However, with access to thousands of deals, many not available on the high street, we have a greater chance of finding you a suitable deal.
We could help get your finances back on track
There are several options available, and our qualified advisors are here to help you choose the right option for you and your circumstances.
One option that we could discuss with you is the consolidation of your debts. This is when you borrow money against your home and use the funds to pay off any outstanding debts.
Could debt consolidation be the right option for you?
Debt consolidation involves remortgaging, potentially securing a better deal with lower rates compared with the ongoing cost of unsecured debts. This would allow you to gain certainty over the payment amounts, helping you to budget more effectively.
It’s important to note that debt consolidation requires careful consideration before proceeding as you risk your home being repossessed if you do not keep up repayments on your mortgage.
Improving your credit rating could help to expand your mortgage options
It’s useful to check your credit rating as having a good credit score could help you secure a more competitive mortgage deal. We can help with this, or you can check your credit score for free at any time on www.checkmyfile.com
Over time, debt consolidation could be a better way to improve your credit score making it potentially easier to secure a better deal on the next remortgage.
We can help you make the right decision for your circumstances
There are many upsides to this type of mortgage and some downsides too. Having Mallory on your side could give you peace of mind that all bases are covered and that you have the reassurance that you are taking the right approach for you and your personal circumstances.
We’re here to provide you with guidance and support whenever you’re ready.
Contact the team on 01565 874 246
Email: hello@malloryfinancial.co.uk
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