Rent and Mortgage Advice London | Budgeting Advice

If you are currently a homeowner and are struggling with debts, then a remortgage could be the solution you are looking for. Remortgaging is when you change your mortgage to another deal or another mortgage lender. This can work out cheaper for you as you may get a discount or lower APR with another mortgage lender. People regularly re-mortgage to consolidate their debts. If you are thinking about re-mortgaging or simply want some debt advice before you do anything, contact Debt Advice London today and speak to one of our friendly advisors who can talk you through all your options.

Interest only mortgages mean that each mortgage payment is used to pay off only the interest on the mortgage loan, so you are not paying off the capital of the property. Interest-only mortgage repayments are therefore likely to be lower. Switching to an interest only mortgage can be beneficial for short term profitability as it will reduce your monthly outgoings, which can help you get on top of your debts and finances. If you are thinking about switching your mortgage to interest only or just need some debt advice contact Debt Advice London today and speak to one of our friendly advisors who can talk you through all your options.

Renting out a room or rooms in your house to lodgers is a great way of helping your monthly budget and outgoings. If your mortgage is high getting a lodger is a successful way of getting extra income for help with the mortgage and will help reduce your bills. With a full time lodger, you can take home £4,250 without paying any tax which would significantly help with your mortgage repayments. If you are thinking about getting a lodger to help with your mortgage or your debts or just need some debt advice contact Debt Advice London today and speak to one of our friendly advisors who can talk you through all your options.

Renting a house at the moment can be quite expensive. If you are currently renting a house and there is a spare room or rooms, you should consider house sharing with another individual or individuals. You would need to ok this with your landlord but usually they don’t mind as long as they are aware if it and still getting their rent money. This could cut your rent and bills in half or more depending on how many people are sharing the costs. This would then mean that you have more money left over each month to pay your own debts and bills. It really can make a big difference to your budget and outgoings so it is worth considering if you are currently struggling with money or debts. If you are thinking about house sharing as a way of freeing up some money and helping with your rent, or simply want some debt advice before you do anything, contact us today.