Debt Consolidation Remortgage

Client Profile

A married couple whose current 2-year fixed rate was ending, who has accumulated high-interest card and car loan debts over the last few years.

The Challenge

Their collective monthly unsecured debt repayments (£850/mo) were drastically choking their disposable income, despite having significant equity in their home.

The Figures

• Property Value: £320,000
• Outstanding Mortgage: £160,000
• Unsecured Debt to Consolidate: £30,000
• Total New Mortgage: £190,000
• Loan-to-Value (LTV): 59.3%
• Term: 20 years
• Interest Rate: 4.35% (5-Year Fixed)
• New Monthly Mortgage Payment: £1,186 (Previous mortgage & debt outgoings was £1,850)

The Outcome

By legally restructuring their short-term liabilities into their low-LTV mortgage, Just Mortgage Brokers reduced their total outgoings by £664 per month, instantly relieving their financial pressure.