Debt Consolidation

Debt Consolidation

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Consider debt consolidation with a remortgage

UK homeowners are being urged to consider the many financial benefits that a remortgage can bring.

Research by analyst firm Money Supermarket found that remortgaging could reduce the amount of time it takes to pay off a mortgage by four years and nine months.

Although Christmas has only recently come and gone, Money Supermarket reports that UK residents could help finance Christmas 2006 by taking out a remortgage, freeing up vital funds in the process.

Louise Cuming, head of mortgages at Money Supermarket, emphasised that remortgages not only lead to payment holidays, but also allow homeowners to consolidate their debts.

"If homeowners are in a position to make flexible payments, then they should plan ahead," she said.

"Overpaying on your mortgage will not only mean you pay the debt off quicker, leaving you to enjoy a payment holiday should you wish, but it also means that you could pay less interest on your mortgage overall."

Remortgaging can often represent a quick and simple solution to resolving any financial difficulties that you may encounter.
22.1.06 15:28

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