Simplify Your Finances with Our Debt Consolidation Calculator
Managing multiple debts can be overwhelming, different interest rates, payment dates, and lenders can make it hard to stay in control. Our Debt Consolidation Calculator helps you understand how combining your debts into one manageable payment could simplify your finances and potentially save you money. Whether you’re juggling credit cards, personal loans, or overdrafts, this tool gives you a clear picture of your potential monthly repayments and total interest savings.
Use it to make an informed decision about consolidating your debt through a remortgage or a personal loan, and see how much you could save by bringing all your repayments under one roof.
We work with more than 120 mortgage lenders, including:
How To Use the Debt Consolidation Calculator
Gather Your Debts
Start by entering the current market value or purchase price of your property. This forms the base for calculating your rental yield.
Enter Debt Details
Input the total monthly rent you expect to receive or are currently receiving from your tenants.
Choose Your Consolidation Option
The calculator automatically multiplies your monthly rent by 12 to determine the total annual rental income.
Review Your Results
Once both values are entered, the calculator divides your annual rental income by your property’s value, then multiplies the result by 100 to give you your gross rental yield percentage.
Get Personalised Advice
For a more accurate picture, you can also factor in costs like mortgage repayments, maintenance, insurance, and management fees. This gives you a net rental yield, which reflects the actual return after expenses.
Debt Consolidation Calculator
Why a Debt Consolidation Calculator Matters
Consolidating your debts can be a smart financial move, especially if you’re managing several high-interest credit commitments. Our Debt Consolidation Calculator helps you visualise the potential benefits before making any commitments. By comparing your current repayments to a single, consolidated loan, you can identify opportunities to lower your monthly outgoings, reduce overall interest costs, and simplify budgeting.
This tool is especially helpful for contractors, self-employed professionals, and homeowners who may find it challenging to manage fluctuating income while keeping up with multiple lenders. It allows you to explore scenarios and find a repayment structure that fits your financial situation.
At Contractor Mortgage Solutions, we specialise in helping borrowers restructure debt responsibly, ensuring consolidation supports long-term financial health, not just short-term relief.
Why Choose Us
Compare & Find the Right Mortgage for You
Don’t settle for less—explore, compare, and secure the best mortgage deal tailored to your needs.
Mortgage Comparison
Find the Right Mortgage in Minutes
Finding the right mortgage can be overwhelming, but we make it simple. Our mortgage comparison tool lets you explore options from top lenders, ensuring you get the best deal for your situation. Whether you’re a contractor, self-employed, or a first-time buyer, you can compare interest rates, loan terms, and monthly payments all in one place. Get a clear breakdown of costs and repayment terms before making your decision. With tailored solutions for contractors, securing the right mortgage has never been easier.
Mortgage Quote
Get Your Personalised Mortgage Quote Instantly
Want to know how much you can borrow and at what rate? Our mortgage quote tool gives you a quick, no-obligation estimate based on your income and financial profile. We specialize in contractor mortgages, ensuring you get access to exclusive rates designed for self-employed professionals.
With no impact on your credit score, you can explore your mortgage options with confidence. Get a personalized quote in minutes and take the next step toward securing your dream home.
FAQ’s
What does a debt consolidation calculator do?
It helps you estimate how much you could save by combining multiple debts into a single repayment. The calculator compares your current total repayments and interest with a potential new loan or mortgage.
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Does consolidating debt affect my mortgage?
If you choose a remortgage for consolidation, your total borrowing may increase, and your mortgage term could reset. However, it can lower your overall monthly payments if done strategically.
Can contractors or self-employed professionals use debt consolidation mortgages?
Absolutely. We work with lenders who specialise in contractor and self-employed borrowing, offering solutions based on your day rate or contract income ,not your accounts.
Will debt consolidation hurt my credit score?
Not necessarily. In fact, if managed properly, consolidating debt can improve your credit profile over time by reducing missed payments and keeping your utilisation lower.
What’s the difference between a debt consolidation loan and a remortgage?
A loan is typically unsecured and based on your personal credit profile, while a remortgage uses your property as security. The best option depends on your debt size, income stability, and long-term financial goals.
How accurate are the calculator results?
The results are only an estimate based on the information you provide. For a fully personalised plan, we recommend speaking with our expert mortgage advisers for accurate, tailored guidance.