About...Alternatives to Debt Consolidation

If, like many thousands of homeowners in the UK, you have a mortgage and other debts like personal loans, an overdraft or an outstanding credit card balance, then you may be interested in consolidating your loans into your mortgage.

Personal loans and other types of credit tend to be charged at much higher rates of interest than mortgages, making the monthly payment of these loans very expensive.

There are mortgage lenders in the UK who would consider consolidating a mortgage with all other short-term debts into one, single new mortgage. Although this may result in you paying more money back over the term of the mortgage, your debts will be organised into one smaller monthly repayment at a reduced rate, allowing you to regain control of your day to day finances.

However, if you are struggling to meet your current credit commitments, it could be worth your while to consider other options that may be open to you.

What other options are there for people who have problems managing their debts?

We list some of the most common alternatives to adding your debts to your mortgage below. Please click on the different options below or to the left to find out more:

It is impossible to say whether you could improve your finances by consolidating all your debts into one new mortgage until a full review of your financial circumstances is carried out. Please Request Advice to see which option would suit you best.

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Your home may be repossessed if you do not keep up repayments on your mortgage.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

You can choose how we are paid: pay a fee, usually 0.5% of the loan amount; or we can accept commission from the lender.

The FSA do not regulate some forms of mortgage.