Our Expertise
Debt Consolidation
Consolidating debt can simplify monthly management, but moving unsecured borrowing onto your home changes the nature of that debt.
Overview
What is debt consolidation?
Debt consolidation involves combining several existing debts into a single arrangement. Where this is done through a mortgage, further advance or second charge, previously unsecured borrowing such as credit cards or personal loans becomes secured against your property.
This can reduce the number of payments you manage each month and may reduce the monthly amount payable. It does not automatically save money. Spreading a short-term debt over a long mortgage term can significantly increase the total amount repaid.
Who might this be suitable for?
- Clients managing multiple credit commitments
- Homeowners with sufficient equity in their property
- Borrowers who understand and accept the risks of secured borrowing
- Clients seeking a clear comparison of the alternatives
How Help to Lend can help
- 01We set out the total cost of consolidating against the cost of leaving debts in place.
- 02We explain clearly what changes when unsecured borrowing becomes secured.
- 03We discuss whether a shorter term on the additional element is achievable.
- 04We will tell you if we do not believe consolidation is in your interests.
Assessment
What may lenders and providers consider?
Total cost over time
A lower monthly payment over a longer term can mean paying substantially more overall.
Security
Debt secured on your home puts the property at risk if repayments are not maintained.
Existing agreements
Some existing debts carry early settlement figures or ongoing benefits worth reviewing.
Future behaviour
Consolidation only helps if new unsecured borrowing does not build up again.
Criteria vary between providers and can change at any time. Nothing here confirms that a particular lender or insurer will accept an application.
The Process
How we work through it together.
- 01
Understand
We start with a conversation about your circumstances, plans and objectives.
- 02
Assess
We review your position, affordability and mortgage requirements in detail.
- 03
Recommend
We identify suitable mortgage and protection options and explain the reasoning.
- 04
Apply
We prepare and manage the application, liaising with the lender on your behalf.
- 05
Progress
We keep the case moving and keep you informed at every stage.
- 06
Complete
We support you through to completion and remain available afterwards.
FAQs
Frequently asked questions
Related
Related expertise
Second Charge
Additional secured borrowing alongside your existing mortgage.
Capital Raising
Releasing funds from the equity held in your property.
Adverse Credit
Advice for clients whose credit history needs a considered approach.
Remortgaging
Review your existing deal and consider the options available to you.
Speak to an adviser about your circumstances.
We'll explain the options clearly and tell you what to prepare, with no obligation.
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