You own your own home and the value of this exceeds the mortgage you currently have. The difference is described as Equity.

When you have equity in your property you can look to use it for Capital Raising or if you have personal loans, credit cards or any other unsecured debt you could potentially consolidate these and have them within your mortgage.

There are things to understand when considering this option;

• You are moving unsecured debt into secure debt

• You are potentially spreading this debt out over a longer term, so will cost you more in the long run

Reviewing you circumstance properly before making this decision is essential.

Think carefully about securing other debts against your home. Your home or property may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it

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