We found WTBSN after landing in a really tricky situation. We were out of term on our current mortgage and our existing broker had exhausted all options to re-mortgage due to the complex nature of our holiday let property (Grade II listed, timber frame construction and above commercial). Working under considerable time pressure due to the financial penalties being imposed by the existing lender, Brian was relentless in his search for a solution that would allow us to refinance a property that was on face value mortgageable. Thankfully, he didn’t give up and nine months later, we completed on the re-finance. We feel so fortunate to have found WTBSN and would like to thank Brian and the team sincerely for going the extra mile. We couldn’t have done it without you!
Quick & Easy Debt Consolidation Loans
- Lowest available rates
- Instant decision
- Quick and easy application
- Put all your debts, into one monthly payment
- Lowest available rates
- Instant decision
- Quick and easy application
- Put all your debts, into one monthly payment
When The Bank Says No is working closely with leading providers...
Our Process really is that simple...
Fill out our online application & one of our Debt Consolidation Loans Experts will contact you to discuss it further.
Chat with an advisor & together we will find the best quote for you!
Take your time to make a decision, choose your Deal & let one of our experts handle all the paperwork for you.
We can help you work towards your dream home, today
Can I Remortgage To Consolidate Debts?
Yes! Remortgaging is a perfectly suitable way of consolidating your debt. Through this method, you can use the equity you have in your home to pay off some personal loans and bring the remaining debt together into a single secured loan. As a result, you will have one monthly repayment to make that will be chipping away at all your debt at once.
Yes! Remortgaging is a perfectly suitable way of consolidating your debt. Through this method, you can use the equity you have in your home to pay off some personal loans and bring the remaining debt together into a single secured loan. As a result, you will have one monthly repayment to make that will be chipping away at all your debt at once.
Do you think remortgaging for debt consolidation might be right for you? Contact our friendly advisors today and we’ll discuss all the implications, whether you opt to remortgage with the lender you have your existing mortgage with or seek to find a better deal elsewhere. We’ll help you come to an informed decision, and then, once you’re happy, we can put the plan into action and find you a suitable deal if a new mortgage lender is considered the right way to go.
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What Our customers say about us
Our Customers rank us 4.6 out of 5
We feel so fortunate to have found WTBSN
Rachel Reeves
Simply the best
I will never use another mortgage broker in all my time In property, these guys are the best at communication, customer service and keeping you informed. They are a level above every other broker I’ve come across and they actually get things done.
Emma, Samantha & Ashley have been fantastic in assisting me with 2 mortgages now and they’re superb at what they do. I wouldn’t hesitate to reccommend them to anybody out there who needs a mortgage sorting.
John Burton
I have been dealing with ben
I have been dealing with Ben @ When The Bank Says No. He has been great!! Professional, kept us up to date the whole way and made the entire process so simple. I would most definitely use him again and have already passed his details on to a family member. Thank you for all your help.
Elise
Thank you for your amazing support
Thank you for your amazing support and service during a really difficult time in my life. 5* is just not enough to demonstrate the level of support received. These guys go above and beyond. A personal service, with kindness and compassion. I highly recommend. If you’re struggling with your mortgage, then have a chat to this team. I cannot thank them enough for everything they have done.
Nabila Fowles-Gutierrez
Frequently Asked Questions
Can I remortgage for debt consolidation and home improvements at the same time?
Yes, it’s possible to borrow funds for multiple uses through remortgaging, and many lenders will be happy to consider applications on this basis. As long as you have sufficient equity in your current property, you may find a suitable remortgaging deal to help you accomplish both of these aims.
Before you launch into anything though, take the time to get advice from a qualified mortgage advisor. They’ll be able to work out your overall affordability and Loan to Value based on current equity and source the best deal available to your circumstances and current credit rating.
What are the advantages of a remortgage for debt consolidation?
Debt consolidation allows you to rationalise your monthly loan repayments into a single cost. This will reduce your monthly outgoings and provide you with more disposable income. The reason for this is that the debts you had will now be repaid over a longer period of time – the term of your mortgage. Another advantage of this method is that the interest rates on mortgages tend to be much lower than the average rates for unsecured loans.
What are the disadvantages of debt consolidation?
Consolidating debt into a mortgage means they are paid back over a longer period. This means the monthly repayments are likely to be lower, but since you will be charged interest throughout this period, you may end up paying back more overall.
Also, you will be securing your debts against your property, effectively it’s a secured loan, which means your home is at risk of being repossessed if you do not regularly meet your monthly payment schedule.
Finally, you will be reducing the amount of equity you have in your property, which will impact you if you decide to sell or reduce the value of your estate if you pass away.
What debts can I consolidate with a mortgage?
I'm still tied into my 5-year mortgage deal and my lender declined my additional borrowing. What can I do?
It can be extremely frustrating if you’re currently tied into a mortgage deal and your current lender has refused additional borrowing. There are a few options open to you.
Firstly, you could wait until the end of your current mortgage deal and remortgage to a new lender when early repayment charges end. Or, if you need to remortgage early, you could bite the bullet and end your existing mortgage term early and pay the early repayment charges.
To work out which route ends up being more cost-effective in the long run, talk to a specialist remortgaging advisor. You could also consider other forms of borrowing for debt consolidation.
My circumstances have changed from when I first took out a mortgage. Will I still get a good rate for a debt consolidation mortgage?
Lenders will offer the best interest rates to those with good affordability. If your circumstances have changed for the worse, then this could affect the sort of rates you might be offered. Factors such as fluctuating income from self-employment, a change in your credit history, or even the fact that you are older and potentially much closer to retirement age, can all affect the rate you might be charged for a mortgage.
When your personal situation has changed and you have bad credit issues, are struggling to pay debts, or even may have CCJs against you, that’s when you could probably benefit from some financial advice from an expert mortgage advisor. There are some specialist lenders who may be more willing to help people with bad credit who need to consolidate their debts by remortgaging.
Can I release equity to pay off (consolidate) debt instead?
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How We Help
Contact Us
- 01615 038 603
- hello@whenthebanksaysno.co.uk
-
Oak House,
Sutton Quays Business Park,
Beechwood,
Sutton Weaver,
Runcorn,
WA7 3EH
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Legal Information
When The Bank Says No is a trading name of Alder Rose Mortgages Limited whome are directly authorised and regulated by the Financial Conduct Authority under FCA No. 923776.
Registered office address: Oak House, Sutton Quays Business Park, Beechwood, Sutton Weaver, Runcorn WA7 3EH. This site is intended for UK customers only. Company Registrations no, England and Wales 11443964.
The Financial Conduct Authority does not regulate some forms of buy to let mortgages.
The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.
As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments. Think carefully before securing other debts against your home.
We are a broker not a lender.
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