This means that borrowers can have the certainty of a fixed rate, knowing exactly how much their mortgage payments will be each month for a known period and have the option to sell or remortgage the property at any time without penalty.
First of all; what is debt consolidation and why do people do it?
To consolidate means; to bring together or to group
So the idea of debt consolidation is to gather all your individual pieces of debt e.g. overdrafts, credit cards, car finance, hire purchase, catalogue accounts, etc. and replace them all with one loan.