A remortgage can often be the cheapest way to consolidate debt.

Mortgage interest rates, even when elevated by economic forces, tend to be the best lending rates on the market. If you have equity, and are paying higher rates of interest on debt committments, it can be a good idea to pay off the debts with your equity.

Credit committments can eat up disposable income, with the payments elevated by interest. Credit cards, loans, store cards all add up fast.

Lenders are more willing to remortgage and release your equity if you have bad credit than they are to allow a new mortgage. However, since the credit crunch of 2008 the range of mortgage products have changed significantly. It may be hard to find a prouct you qualify for nowadays.

A mortgage broker can help you to find the right product for your situation. They will have sourcing software to quickly filter based on your personal circumstances.