Easierdebt - Making Life more affordable

Re-Mortgaging

Easierdebt are a company dedicated to making your debts more manageable each month.

"Combine your debts into one affordable monthly payment with our Debt Management Programme."

At Easierdebt, we understand debt. We know how easy it is to slide into unmanageable debt, but most importantly, we know how to get you out of debt.

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Debt Advice - Call now on 0845 373 4062

What is re-mortgaging?

Re-mortgaging can clear unsecured debt by borrowing money against your home

Is re-mortgaging right for me?

There are many reputable lenders who will lend up to 65% of the open market value of your property, but this decreases depending on your credit rating. Generally speaking, the more adverse credit you have (such as mortgage arrears, CCJs or default notices) the lower the percentage will be. The interest rates you will have to pay will also depend on your credit rating.

If you do choose to re-mortgage your property you should ensure that the lender you use is properly regulated by the Financial Services Authority (FSA).

We are able to introduce you to some of the largest financial institutions in the UK, who will advise you on the best deals available for your particular circumstances. They are obliged to be completely transparent about their rates of interest, their charges and any penalties that may apply for early settlement.

You should also ensure that you would be able to afford the monthly repayments. There is no sense in converting your unsecured debt into a secured debt, only to find that you cannot maintain the payments. This could become extremely serious, as your home will now be at risk. You should also take into consideration that interest rates could easily rise.

Debt Management Plans Explaination of costs/fees and affect on your credit rating:

You will pay to us the first two monthly payments on the dates specified, this will be our programme set up fee and not paid to creditors.This charge is for our programme set up costs which include compiling financial statements, proposals to creditors in writing and phone calls. This may affect your credit rating and will put you further in arrears. Each month thereafter we will charge you 15% of the agreed payment amount or a minimum of £30.00. All fees charged are VAT exempt.

Insolvency Service: In Debt? Dealing with your creditors

Cooling off:

If you deem that the programme is not providing you benefit you are entitled to cancel at any time giving us notice. If the initial fee has been received, we will only refund this if the programme has been cancelled in writing within 14 days since receipt of this money and this period cooling off time to reconsider. If you wish to cancel your programme but the monthly
payment to your creditors has already been made we will be unable to refund any monies to you. You may cancel the programme at any time and be entitled to a refund of any monies held by us that have not yet been sent to your creditors in the form of a payment, minus the monthly management fee, which will be retained by us for work undertaken on your behalf.
You may cancel the programme at any time by giving notice in writing to us. Our authority to deal with your creditors will be rescinded. Your creditors may revert back to the original terms of your contract with them.