Award-Winning Bad Credit Specialist · FCA No. 301173
Debt Consolidation Mortgage With Bad Credit Consolidate and Simplify
Debt consolidation through a mortgage can reduce monthly outgoings but it requires careful consideration especially with bad credit. Darryl Dhoffer explains all the options and the important risks.
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Award-Winning
90+ Lenders
FCA No. 301173
01234 237321
Debt Consolidation Mortgages and Bad Credit
Debt consolidation through a mortgage or remortgage involves borrowing additional money secured against your property to pay off unsecured debts including credit cards loans and overdrafts. The result is a single monthly payment often lower than the combined unsecured debt payments.
Important warning: Consolidating unsecured debt into a secured mortgage means your home is at risk if you cannot keep up payments. The overall cost over the full mortgage term is often significantly higher than keeping debts separate despite lower monthly payments. Darryl Dhoffer provides a full cost comparison before recommending this route.
Darryl Dhoffer — The Mortgage Geezer
20+ years in mortgages. Award-winning specialist. Featured in the Daily Express, FT Adviser and The Intermediary. I have helped hundreds of people across the UK who were told no by their bank — and I work with 90+ lenders including specialist adverse credit lenders you will not find on comparison sites.
When you contact me, you speak to me directly. No call centres. No being passed around. I personally review every case and respond within 2 hours.
CeMAPCeRERFCA 301173AWARD WINNINGINDEPENDENTWHOLE OF MARKET
Frequently Asked Questions
Can I consolidate debts into my mortgage if I have bad credit? ›
Yes. Specialist lenders will consider debt consolidation remortgages for people with adverse credit assessed against the same criteria as standard bad credit remortgages including the type and age of credit issues your income the available equity and the total combined LTV. Darryl Dhoffer will assess whether debt consolidation is the right approach for your specific situation.
Is debt consolidation through a mortgage a good idea? ›
It depends entirely on your specific situation. Benefits include lower monthly payments simplifying multiple debts into one and stopping unsecured debt interest accumulating. Risks include extending debt repayment over 20-25 years dramatically increasing total cost securing previously unsecured debt against your home and potentially enabling the debt to accumulate again if underlying spending patterns do not change.
How much equity do I need to consolidate debt? ›
You need sufficient equity in your property to cover your existing mortgage plus the debts you want to consolidate. Most lenders cap total borrowing at 75-85% of the property value. With bad credit the maximum LTV may be lower typically 70-75%. Darryl will calculate exactly how much you could consolidate based on your property value current mortgage balance and credit profile.
What debts can be consolidated into a mortgage? ›
Most types of unsecured debt can be consolidated including credit cards personal loans overdrafts store cards catalogue debt and other unsecured borrowing. Some lenders restrict consolidation of certain debt types. Darryl will advise on exactly what can be consolidated in your specific situation.
Will debt consolidation improve my credit score? ›
In the short term consolidating multiple debts can improve your credit utilisation ratio which may improve your score. However the remortgage application itself will leave a hard search. Over the long term consistently meeting the consolidated mortgage payment improves your credit profile. Darryl will assess the full credit impact of debt consolidation for your specific situation.
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No credit search. No obligation. Darryl personally reviews every enquiry and responds within 2 hours.
01234 237321
darryl@themortgagegeezer.co.uk
FCA No. 301173
43 Five-Star Reviews
The Mortgage Geezer is a trading style of Access Financial Services Limited, authorised and regulated by the FCA No. 301173. Your home may be repossessed if you do not keep up repayments on a mortgage.
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