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Debt Consolidation Mortgages

Debt can damage far more than your financials…

At Avail Mortgages, we know there’s more to existing debts than just your bank account. It’s the worry of impending bills, how to make ends meet and how to afford unexpected expenses – such as boiler breakdown, or a medical emergency. Getting out of debt is no easy feat, but there are ways to lessen the monthly load and keep on top of things. Debt Consolidation Mortgages can combine your debts into one manageable payment, reducing the amount you pay back every month, and stopping you from getting into further debt. It doesn’t matter if your debt relates to credit card debt, personal loans, overdrafts or store cards, a Debt Consolidation Mortgage can combine and cover them all – making life a whole lot easier for you.


From our initial conversation and sourcing of loan rates through to the provision of a Debt Consolidation Mortgage, our mortgage advisors guide you through the whole process. Taking your financial situation into account, we’ll weigh up your options and recommend appropriate deals for you. Our mortgage advisors are fully-qualified and committed to the principles laid down by the Financial Conduct Authority* (FCA) and their ‘Treating Customers Fairly’* (TCF) initiative, but more than this, they are friendly, supportive and dedicated to client care. It’s no surprise to us that we regularly receive fantastic testimonials from our clients, and have a high client retention rate too. Our mortgage advisors are there for you when you need us, and provide valuable advice that you won’t find anywhere else.

To learn about our range of Debt Consolidation Mortgages, please contact us today. We provide loan support for clients across the UK including areas such as Leeds, Huddersfield, Bradford, York and Harrogate, so we know that we can help you too. Debt doesn’t have to run your life, and with a mortgage from Avail Mortgages, you can take back control.

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What Is A Debt Consolidation Mortgage?

A Debt Consolidation Mortgage lets you borrow money to pay off existing debt – such as credit cards and credit card debt, personal loans and overdrafts, as well as store cards. By merging all of the money you owe into one, Debt Consolidation Loans let you switch to just one monthly repayment to a single mortgage lender, such as Avail Mortgages.

Consolidation loans work like this: you firstly work out how much money you owe on all your loans in total, and apply for a loan that covers that exact amount at a better rate of interest. You then pay them all off at once, leaving you with one easy-to-manage monthly payment.

Debt Consolidation Mortgages are only suitable for clients when:

  • Any savings that the loan provides are not wiped out by fees and charges.
  • You can afford to keep up with loan payments until the loan is repaid.
  • You use the loan as an opportunity to reduce your monthly spending and get your personal finances back on track.
  • You end up paying less interest than you were paying before and the total amount payable is reduced.

Before choosing personal loans, it’s important to consider your current debts, financial situation, and the future. If interest rates increase, you lose your job or you’re struggling to make ends meet, then a Debt Consolidation Mortgage may not be advisable. We recommend getting advice from our mortgage lenders before taking out this type of mortgage, to ensure you’re fully aware of what you’re getting yourself into, to protect yourself, your family and your future.

As general guidance, you shouldn’t take out a Debt Consolidation Loan if:

  • You can’t afford the new loan payments.
  • You don’t clear all of your debts with the loan.
  • You end up paying more overall – perhaps because the monthly repayments are charged at a higher rate.

We know that getting into debt can be overwhelming, but we also know that we here at Avail Mortgages can help. If you’re struggling with bills or debt collectors and you’re unsure what to do next, then please contact our mortgage advisors today for free advice, and, only should it be suitable – a Debt Consolidation Mortgage quote.


How Does Debt Consolidation Work?

So how does debt consolidation work? Well, if you’re thinking about consolidating debt, you need to firstly:

  • Work out how much money you need to borrow, by adding up all of the debts that you want to pay off with your loan – not forgetting any extra charges you’ll need to pay if you decide to pay your debts off early.
  • Work out how much time you’ll need to pay the loan back. The longer you take to pay back your mortgage, the lower your monthly payments will be. However, the longer you take to pay it off, the more you’ll end up paying back in total.
  • Find the lower interest rate, as the interest rate is the largest charge on Debt Consolidation Loans. The interest rate offered will depend on your credit history, credit rating and financial situation.

You then can choose between a secured Debt Consolidation Loan and an unsecured Debt Consolidation Loan, which both can help you pay off debt. At Avail Mortgages, our mortgage lenders can advise on the right loan route for you, and guide on the interest rates available. Our mortgage loan calculator can show how changing the loan term can affect your monthly repayments, and we’ll talk you through APR, the monthly installments and total amount you’ll need to pay back, to ensure that you can make an informed decision regarding your finances.

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Types of Debt Consolidation Loans

When it comes to Debt Consolidation Mortgages, there are two types: secured Debt Consolidation Loans and unsecured Debt Consolidation Loans.


Secured Debt Consolidation Loans

Secured loans are where the amount you borrow is secured against an asset, such as your home. Mortgage lenders see secured Debt Consolidation Loans as lower risk, and therefore, you can borrow over £25,000 should you need to, and benefit from lower interest rates than unsecured loans provide too. You should think carefully before securing any other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or other debt secured on it.

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Unsecured Debt Consolidation Loans

These are loans that aren’t secured against an asset. However, mortgage lenders see unsecured loans as higher risk, and therefore, the interest rates may be higher. You can typically borrow between £1000 – £25,000 with an unsecured Debt Consolidation Loan. Please note that these are not offered by Avail Mortgages.


Alternatives To Debt Consolidation Mortgages

Though Debt Consolidation Loans are right for some, they’re not right for all, and at Avail Mortgages, we want to ensure that our clients know what else is out there. There are alternatives that you may wish to consider, and our brokers can provide further guidance on this.

Unsure which type of mortgage to choose? Wondering if a money transfer card or balance transfer card is a better option? Our mortgage advisors aid clients across the UK including areas such as Leeds, Huddersfield, Bradford, York and Harrogate with their loan needs, so we are here to help. Please contact us today and we’ll talk you through our range of options, ensuring you find the most suitable loan for you.


Debt Consolidation Mortgage Benefits

Debt Consolidation Loans can provide you with a range of benefits, such as:

  1. Lower Interest Rates: Debt Consolidation Loans typically provide lower interest rates, reducing your monthly interest payments. Dependent on the length of your loan, you could end up paying less interest overall and therefore save money too.

  2. Convenience: Only having one monthly payment means that you’re not having to meet the demands of various creditors or struggle through all the associated paperwork. Further, a Debt Consolidation Mortgage means not having to keep up with multiple monthly payments with varying interest rates going to different mortgage lenders.

  3. Boosts Your Credit Scores: Though taking out a Debt Consolidation Loan may hurt your credit scores in the short term, consolidating your debts may improve your credit rating in the long term. This is because with a single loan (rather than multiple loans), you reduce the chances of missing a loan repayment.

  4. It’s important to remember that with a Debt Consolidation Loan, you won’t be reducing the total debt value, but simply reduce the interest rate you pay, or extend the repayment period. The total cost to repay the debt may be higher.


Why Choose Avail Mortgages?

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Suitable Mortgage Deals

We understand how stressful dealing with debt can be, and how you may find the prospect daunting and troublesome. We will not give you a Debt Consolidation Loan if we feel it will only worsen your financial situation, and our mortgage lenders will recommend the most suitable route for you. If it is the most viable option, then our mortgage advisors will source live rates and affordable monthly interest rates.

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Client communication is very important to us, as is customer service. We’re reachable via various means, including phone, email and WhatsApp. Our Debt Consolidation Mortgage advisors match how you wish to be contacted, so that you feel comfortable with our service and make it adaptable to your needs.

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From our dedicated client portal to our loan calculator, technology advances our services, and plays a big part in our success. Speeding up the loan process, we can determine the amount you’ll need to pay back on your Debt Consolidation Loan, and create a place for you to keep all of your loan documents for ease, among other technology-driven processes.

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Mortgage Support

Should you ever have any questions, or any problems arise, our Debt Consolidation Mortgage advisors work tirelessly to provide help and support. With Avail Mortgages by your side, an issue will never be an issue for long.


Get In Touch

For a stress-free approach to Debt Consolidation Loans that places your needs at the forefront, please contact our team at Avail Mortgages today. Our mortgage lenders provide help for clients across the UK including areas such as Leeds, York, Sheffield, Bradford, Harrogate and Huddersfield and will always make the loan process a smooth one.