CASE STUDY: Debt Consolidation

Nov 27, 2019


The clients were looking to re-mortgage to us for £110,000 to repay their existing mortgage of £23,000 and reduce their out goings considerably by repaying 5 loans and 5 credit cards totaling £87,000.

How did we help?  

We do not apply debt to income ratio’s on cases, so we were able to look at this case without the debt. We used the couple’s combined pension income for affordability and didn’t include any of the debts that were to be repaid. The LTV with the remortgage and debt consolidation was well below our 75% LTV limit for his type of mortgage.  

This new mortgage reduced their outgoings from £3348 to £1022 per month and meant they had 1 outgoing monthly commitment instead of 11.

 Contact us

BDM  – Emma Parker | (07506) 906525

BDM  – Rob Shropshire (North) | (07508) 128678

Mortgage Team | (01785) 223212


Stafford Railway Building Society

4 Market Square, Stafford, ST16 2JH