Remortgage Example

Mr and Mrs E. had debts of over £50,000 on which they were paying out over £850 per month. In addition they had monthly mortgage payments of £777.

However they had equity in their house and after review were advised to re-mortgage and clear their unsecured debts. The result was a new monthly mortgage payment of £968. This meant that they were paying out at least £650 less than before, per month.

Your home may be repossessed if you do not keep up repayments on a mortgage or other loans secured against it.