Remortgaging can allow you to release some of the value you hold in your home – this is also known as equity. Doing so can consolidate other debts that can attract higher rates of interest than that of your mortgage (e.g. credit cards or personal loans). While debt consolidation can reduce your monthly payments, it usually means increasing how long you will pay for and can mean you pay more for the debt in total. We will advise you to think carefully before securing other debts against your home, and should you wish to remortgage for debts, we will give you options that you can afford.