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Home » Debt Consolidation – How can I reduce my outgoings?

Debt Consolidation – How can I reduce my outgoings?

Ciarán Power
November 15, 2022
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Table Of Contents

Unsecured borrowing on credit cards or loans sadly leads to you paying a lot more interest than you would for your home if your borrowing was secured on property through mortgage debt consolidation.

At Green Mortgages we see debt consolidation as vital for any of our clients with a small amount of adverse credit ratings. Let us help you in saving time and most importantly money when investing.

Why do you pay less interest on secured debt?

The simple answer is lenders have preference on secured debt as they see the usually large amounts of money as less of a risk and for two reasons;

In even more straight forward terms – People are far more likely to pay back what they owe on a mortgage each month even if they are struggling because keeping a roof over their head is always going to be a priority.

Secondly, secured debt also means the debt is secured on an asset which makes it easier to recover all or a significant proportion of the outstanding amount if the borrower defaults on repayments in the future.

How can we help you?

At Green Mortgages we are proud to have a team of highly experienced independent mortgage brokers who are able to help you find the best mortgages to fit each individual’s circumstance.

We are whole of market mortgage brokers which means we can source the best mortgage products from over 140 different lenders. Even if you are self-employed, have adverse credit or you have been refused a mortgage before we are here to help. Simply give us a call or contact us via the website to start a conversation about your experience today.

Will mortgage debt consolidation still help me even if I am already in high debt?

If you have debts spread across multiple credit cards as well as loans and other financial commitments, your financial situation can be a constant source of stress and worry. With multiple payments being made every month and often high interest charged on credit cards, it can take many years to pay off debts or you may end up spending years just covering interest rather than paying off your balances. Which in turn  can cost you enormous amounts in interest payments without ever paying off a debt.

This is exactly why consolidating your debts on a mortgage will provide you with an endpoint so you can plan finances better and potentially even pay less each month.

You will also be able to streamline all your monthly repayments into a single mortgage payment and you will have the peace of mind that you are reducing the balance of what you owe each month and paying a lot less interest on your borrowing.

Pick up the phone today 

Debt consolidation is a simple strategy here to support and priortise people and their property. If you are unsure if this is something you need to move forward with please give us a call or contact us via the website to start a conversation about your experience so far today.

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