Refinance loan finance debt consolidating
You may also want to think about applying for a repayment holiday to reprieve you of your mortgage repayments for a short period of time so you can focus on repaying your other debts and improving your credit history.
If a debt consolidation mortgage is not a viable option, you may want to consider selling your assets – such as your home or investment property – to help manage your financial responsibilities.
If your debt consolidation refinancing application has been rejected, it may be time for a financial health check.
You should ask the lender why your application was rejected so you can better understand your debt status and behaviour.
With monthly repayments of ,480, it’s easy to see why Jenny’s having such a hard time making repayments.
In some cases, a debt consolidation mortgage can see you paying more in interest charges and fees if the loan is not structured correctly.