Debt Consolidation
If managing multiple debts is becoming stressful, a debt consolidation mortgage could help. By using your home to combine everything into one monthly payment, you may be able to lower your outgoings and simplify your finances. We’ll take a look at your situation and let you know if it’s the right option for you — clearly, honestly, and without pressure.
Getting yourself financially straight with KeyFS...
We understand that sometimes you need to give yourself a break, especially when credit cards and loans start to build up. While adding this debt to your mortgage isn’t always the right solution, there are times when it can make sense. We’ll take the time to understand your situation and help you decide whether consolidating through your mortgage is the right move for you.
Step 1 - Apply for a remortgage or second charge
Step 2 - Get an offer from a mortgage lender
Step 3 - You clear your outstanding debts
Our advisers will look at your full picture and work out whether debt consolidation through your mortgage makes sense for you. We’ll explain the pros and cons clearly, and make sure you understand how it affects your term, interest, and overall costs - so you can make a confident, informed decision.
Call today to book a debt-consolidation consultation 024 7632 2000
How much extra can I borrow?
In this case, your mortgageability is a quick way to determine how much extra you could borrow on top of your current mortgage, based on your income, credit history, and overall financial picture.
We will ask you:
- Who you are and where you live
- Affordability, spending habits, and any existing loans.
- A few questions about your credit history
Getting the right advice is essential when consolidating unsecured borrowing into your mortgage. It’s a big decision that can affect your finances in the long term, so it’s necessary to understand the potential benefits, like lower monthly payments and simplified finances, and the drawbacks, such as paying more interest over time. We’ll guide you through your options, explain everything clearly, and help you make the right choice.
Consolidating unsecured debts into your mortgage with KeyFS
Sometimes, homeowners look to combine loans, credit cards or other unsecured debts into their mortgage. It can feel like a fresh start - but it’s important to understand both the benefits and the drawbacks before deciding if it’s right for you.
The advantages
- Lower monthly payments: Because your mortgage is repaid over a longer term, your overall monthly outgoings can be reduced.
- Simplified finances: Instead of juggling multiple payments, you’ll have just one regular mortgage repayment to manage.
- Potentially lower interest rate: Mortgage rates are often lower than credit card or loan rates, which can make your debt more affordable in the short term.
The disadvantages
- You could pay more overall: Spreading the debt over the mortgage term may mean paying more interest in total, even if the rate is lower.
- Your home is at risk: Unlike credit cards or personal loans, your mortgage is secured against your property — so missed payments could put your home at risk.
- Loss of flexibility: Some unsecured debts can be repaid early without penalty, whereas a mortgage tie-in period might limit this flexibility.
At KeyFS, we’ll always look at your full financial picture before making a recommendation. Our goal is to help you make an informed choice that’s right for your circumstances - balancing affordability today with financial wellbeing in the future.
Frequently asked questions...
The reason Paul and the team at KeyFS have built an award-winning, five-star reputation is simple - they give clear, balanced advice that’s easy to understand. There’s no hard sell, no jargon, and no pressure.
Just honest guidance from people who genuinely care about helping you make the right choice. Every recommendation is based on what’s best for you and your personal circumstances, so you can move forward with complete confidence. Here are the advanatges and disadvantages of some terms you may be familar with.
Without a strategy, debts can spiral. By consolidating into your mortgage, you create one structured repayment plan that ensures debts are repaid over time in a manageable way.
A debt consolidation mortgage can combine multiple debts into one monthly repayment, often reducing what you pay out each month and making your finances easier to manage.
Even with a less-than-perfect credit history, there may still be options available. Some lenders specialise in helping people restructure their debts through their mortgage.
Credit cards and personal loans often carry higher interest rates. Consolidating into your mortgage could mean paying a lower rate, helping reduce overall costs.
Consolidating debt into a mortgage can extend the repayment term, meaning you could pay more interest over time. Independent advice makes sure you understand the pros and cons before making the decision.
Let's talk...
Your enquiry will be handled by a fully qualified local mortgage and protection adviser, who will be available to speak with you at any time.
Contact us
Why not start things off by answering these 4 quick questions? We’ll then share some useful insights with you, and when the time feels right you can chat with one of our advisers for more personalised guidance.