Just wondered if anybody had taken out a mortgage loan to reduce their monthly mortgage payments. We enquired about this with a lender. Apparently they work with your mortgage supplier and substantially reduce your monthly payments. We are yet to hear the outcome of this and are considering going with someone else. Any feed back on this would be appreciated.

Cheers

Just to point out that this will be done by extending the total period of repayment.
Yes, your monthly amount will be less but you have to keep paying for longer.

If you are currently struggling, it will make life a lot easier but do not lose sight of the fact that it will increase your total repayment in the end.

Check the repayment details carefully and compare it with other offers.
Also make sure that you have checked directly with your original mortgage provider about the possibility of extending your repayment period in order to reduce your monthlies. They may actually do it cheaper than the middlemen who are going to be making something out of it..