Many of us have racked up short term debts on plastic cards in the spending boom, and are now feeling the pinch. Faced with high credit card repayments and ever increasing costs of petrol, electricity and food bills, many individuals are struggling to make ends meet, and are using their store and other credit cards as a way of securing short term borrowing. Spending on store and other credit cards in the UK has soared to an average of £45 million every month.

Securing a remortgage deal to release equity in a home to can relieve the pressure caused by short term debt; by paying off short term debts with capital released by re-mortgaging, monthly repayments can be more affordable overall: released equity can be used to clear credit card debts and other short term loans, reducing net monthly outgoing's but at the expense of acquiring addtional long term mortgage debt.

However, taking out a remortgage deal it is not an option to stumble into blindly: taking expert mortgage advice is critical to ensure that a remortgage deal is affordable and will leave a borrower's day to day finances in a more affordable state. To get the best rates on a remortgage deal it is also imperative for all prospective borrowers to research the market thoroughly and get a wide range of remortgage quotes.

An independent mortgage advisor can put forward all deals that match a prospective borrower's remortgage deal requirements, and will gather and compare a remortgage quote from the most suitable providers for their client to consider.

But in the credit crunch, is it still possible to secure a good remortgage deal? The answer is yes.

Contrary to popular belief there are still plenty of remortgage deals available in the market; total mortgage lending in July totaled £4.3billion, only slightly lower than the previous six-month average figure of £4.8billion. For people with good credit records securing a good remortgage deal is unlikely to be a problem. It is imperative that prospective borrowers maintain a good credit rating while gathering a remortgage quote.

Suitably qualified independent advisors with an expert knowledge of the market will be able to provide impartial mortgage advice as well as gathering a remortgage quote from each of the providers that have a remortgage deal that meet their client's requirements. A mortgage broker who offers mortgage advice will be able to help borrowers assess the affordability of any remortgage quote or remortgage deal, and help to guide the applicant towards a decision that is best for them in their financial circumstances, such as the choice between a fixed or variable rate remortgage deal.

Consumers should always be advised that a home that is used to secure a loan may be under threat of repossession if borrowers fail to keep up repayments.