If you have credit card debt or even a personal loan, it is possible to consolidate all your debts into your mortgage via a remortgage.
This can make sense, as the interest rates charged on mortgages tend to be lower than those for other types of debt, such as credit cards and personal loans.
Remortgaging will allow you to consolidate all of your debts into one loan that is easier and cheaper to manage. However, there are some disadvantages, for instance, you will need to have considerable equity in your home (that is, your mortgage needs to be significantly less than the current value of your property). Once you have consolidated all of your debt into your mortgage, some of this equity will disappear. Adding extra debt onto your mortgage will also obviously increase the total homeloan amount. Therefore, you will either have to increase your monthly repayments or lengthen the term of the loan to accommodate this.
