Residential remortgage for the purpose of debt consolidation.
A middle-aged couple who had lived in their property for many years had built up various credit cards and a loan, amounting to a relatively large and expensive unsecured debt. They were looking to consolidate the debt into a remortgage, to the reduce their monthly outgoings and make it easier to keep track of their expenditure. This is relatively straightforward, but the loan to value lenders will go up to for the purposes of debt consolidation varies hugely, there is also a cap on the amount of debt lenders can actually accept.
Having extensive knowledge of lender products meant that Hawke FS advisors were able to select the best option for the couple; giving them the maximum loan to value possible to absorb their debts and wrap up into one debt. The couple went from paying £ on unsecured debts, plus a £ mortgage payment, to an overall single monthly payment of £.
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