FAQ's about Remortgages and Loans
Below are some of the more frequently asked questions we get about mortgages and loans.
Should I Remortgage or get a Secured loan?
This depends on your circumstances, we will provide you with the best options for your financial situation, but mortgage rates are generally lower than loans, but there are set up costs with a mortgage, also with both you risk your home if you don’t keep up your repayments.
How long does the process take?
Loans take about 3 weeks, Remortgages between 4-5 weeks.
What if I have a fixed/discounted mortgage?
You can still arrange a remortgage, but could have to pay an early settlement charge. If this charge is too high, you could opt for a secured loan.
Is a consolidation loan right for me?
If you can consolidate all of your existing debts into one loan that offers lower total repayments then a consolidation loan might be the best solution, speak to one of our advisers and they will provide you with free debt advice that will take into account your current situation, outstanding debts, and employment status; you will save money in the long run and avoid more drastic solutions. This might not be possible in some cases as many people who are experiencing serious financial difficulties tend to have poor credit ratings; if this is the case then taking on more financial responsibility is likely to make your situation worse.