Remortgage Advice

Remortgaging may be useful for clearing outstanding debts, releasing equity or else for consideration as part of Payplan's recommended debt solution.

Call Payplan's Special Advice Team free on 0800 917 7819 or use our online Debt Calculator for a quick and easy way to get free debt advice about house repossession from experienced professionals.

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What is remortgaging?

Remortgaging is when you replace an existing mortgage with a new mortgage without moving home in order to release capital or reduce interest payments. It might involve changing mortgage lender or opting for another product with your existing lender.

Remortgaging has historically been a popular way of reducing repayments and releasing capital as well as paying off a mortgage early and can be useful as a means of consolidating debts. Taking remortgage advice can therefore be beneficial financially.

Remember that the value of your home may have increased since you bought it and the current market value may affect the choices you have.

Can I remortgage to pay off debts?

Remortgaging can offer some relief as a debt solution for people experiencing a certain level of debt. If you have owned your property for some time, the chances are it could be worth more than your outstanding debt.

Reduced monthly payments at a better rate will mean that you have more disposable income - and this in turn could help you pay off higher rate debts such as credit cards or loans as well as releasing money for home improvements, etc.

Call Payplan for specific advice tailored to your personal circumstances - we are happy to offer remortgage advice in conjunction with our sister company, Who's Lending.

How could remortgaging with Who's Lending benefit me?

You might feel a bit swamped by the choice of lenders and remortgages on offer. The Internet is awash with them, but be careful not to make hasty decisions for seemingly quick fix solutions!

For objective remortgage advice especially if you have bad credit or debt issues, Payplan recommends using the expertise of Who's Lending. They can search all the lenders in the UK to find the right deal for you - and they don't charge a penny for it.

As a 'whole of market' broker, Who's Lending can compare every mortgage available to brokers to find the best deals and in addition, has access to products that aren't available direct to consumers.

I've got a bad credit history - will I be eligible for remortgaging?

In the current economic climate, it's reassuring to know that there's a company with experience and expertise in sourcing appropriate mortgages or remortgages for people with credit difficulties or debt issues. Therefore, it makes perfect sense for Payplan clients to seek free remortgage advice from an organisation like Who's Lending who specialise in adverse credit mortgages.

In recent months, many lenders have withdrawn from the sub prime mortgage market (mortgages for people with poor credit ratings) which has strong implications for people with debt issues seeking to remortgage. Fortunately, Who's Lending has forged strong partnerships to facilitate mortgages for people with poor credit ratings or debt issues.

All mortgage brokers, including Who's Lending, are regulated by the Financial Services Authority, and are under obligation to treat clients fairly.

I've been told that remortgaging isn't a possibility...

Even if your current circumstances mean that remortgaging is not possible, this is something that Payplan can advise on for the future. However, you should still get advice about your finances if this option is not available to you.

Our experienced team specialises in debt advice for all situations. You may find that a free debt management plan or an Individual Voluntary Arrangement (IVA) will help you deal with your underlying debt problem.

For further information about our range of free debt solutions, visit:

Alternatively, don't hesitate to call us on 0800 917 7823 for objective, professional and discreet advice - free of charge.

For more information about property related finance, including mortgage arrears, mortgage advice, negative equity and repossession, see the links below:

Concerned about repossession? Ring 0800 917 7819 where our Specialist Team is waiting to take your call

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