Have you considered an adverse credit remortgage to consolidate your debts?
It can be extremely stressful to manage a number of debts, or to try and improve your credit rating. Not only can a bad credit history affect your everyday purchases, but it can have a huge impact when it comes to buying property or releasing the equity on an existing property. Often, high interest rates or complicated penalty clauses can make it seem impossible to make any progress in clearing your debts or improving your credit. There is a way that you could start moving in the right direction though, and it is by investigating an adverse credit remortgage.
What is an adverse credit remortgage?
Just as an adverse credit mortgage is a special product for those looking for a new mortgage, an adverse credit remortgage is the process of using a specific product to pay off one mortgage or a number of debts from the proceeds of a new mortgage. Usually, you will need to use your existing property as security, to give the lender comfort that the loan will be repayable from the proceeds of the sale of your house if you fail to keep up the repayments.