Why should I reduce my outgoings?

There are a lot of reasons why we need to reduce our outgoings. Sometimes this reduction can be for a short term for example if you are changing jobs or having a baby or it could be a more permenant reduction because you have outstanding credit card debts and unsecured loans which are costing too much. A monthly payment reduction remortgage can help by reducing current outgoings to a manageable monthly sum. At Fresh Finance Group we will search the best remortgage to raise capital for you! Our service is completely transparent and easy to understand.

Why other clients have reduced their outgoings using a remortgage?

The following are a few examples of circumstances where clients have benefited from reduced outgoings using our remortgage:
The clients were having a baby and the family income was going down.
The clients were planning to set up their own business.
The clients were planning to change Job.
The clients wanted to free up more cash on a monthly basis.
The clients wanted to pay off their debts.
The clients were planning to sell their home in the future and weren’t concerned about paying off money.

Do I need to reduce my outgoings?

A remortgage to reduce outgoings can help you in the short term whatever you need the money for. However, it will usually mean more interest over a longer repayment term and there may also be early repayment penalties on your current mortgage, you should think carefully before securing other debts against your home. There may be other ways to raise capital that are more suitable to you. Your adviser will recommend the most suitable product for your needs.

A new mortgage may help to reduce your outgoings however you will need to check as you may need to pay early repayment penalties on your current mortgage. There may be other ways to reduce your outgoings that are more suitable to you. Your adviser will recommend the most suitable product for your needs.

Debt consolidation is not always the most suitable option, consolidating debts must be carefully considered. It will usually mean more interest over a longer repayment term and there may also be early repayment penalties on your current mortgage, you should think carefully before securing other debts against your home. There are other ways to manage debt such as free debt advice charities, you can find out more by contacting the Money Advice Service https://www.moneyadviceservice.org.uk/en/tools/debt-advice-locator these services may be more suitable for you.

Related Links

- Mortgage Types
- Debt Consolidation