Qualified advisers answering your
Financial Questions
call 0800 092 1245

Should I refinance my debts?

As the financial environment in the UK continues to weigh heavily on the minds of many people across the country, both individuals and business people, a growing number are looking at potentially refinancing their debts. Should I refinance my debts is a question which is difficult to answer as each and every situation will be very different.

The only real reason you would look to refinance your debts is if you're able to change the payment terms and the repayment duration. The main goal has to be to reduce your outgoings in the short to medium term to give you time to re-evaluate your position and hopefully repair your financial status. Very often people will go one of two ways, either looking at the short-term refinancing, which can place even more pressure upon your outgoings, or else look too long-term which would result in potentially paying over the top in interest charges. You need to find a balance which perfectly fits your financial position, your age and your lifestyle.

As a consequence, you may find it very beneficial to take professional financial advice to ensure you are taking the correct action and indeed you are looking at the correct financial products.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details