A Consolidation Loan is designed to pay off all your unsecured debt. This is the main benefit of a debt consolidation loan, it is a single loan with one affordable monthly repayment so you do not need to make separate payments to various lenders each month.
Consolidation Loans often offer a much more favourable interest rate with a new lender, as the debt is often secured against an asset.
If you find that you are struggling to make payments on time and juggle multiple debts then a consolidation loan may be the right option for you.
Debt Consolidation can offer you many benefits when getting a loan. For example you can pay off your unsecured debt and enjoy lower monthly payments. When your unsecured debt has been paid off you should find your other outgoings much more easy to manage.
Debt Consolidation can offer you expert advice on many types of loans. For free advice and information contact us today on 0808 131 0037 or fill in the query form to your right so we can call you back.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERM OF DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY.
For mortgages and re-mortgages the overall cost for comparison is 8.5% APR variable and for secured loans 14.5% APR variable. The actual rate will depend upon your circumstances. Ask for a personalised illustration. A broker fee may be payable on completion, and will depend on your circumstances. For mortgages and re-mortgages this fee is typically between 0% and 3% of the gross mortgage amount, subject to a minimum of £2,495 and a maximum of £3,995. For secured loans, the fee is typically between 0% and 10% of the loan value.
DebtConsolidation.co.uk is a trading name of Ask Finance Ltd which is registered in England and Wales (company number 4229724), Jackson House, Sibson Rd, Sale, Manchester, M33 7RR. Ask Finance is licensed under the 1974 consumer credit act to carry on the business of consumer credit, consumer brokerage, debt adjusting and debt counselling. Consumer Credit License No: 507130. Ask Finance is authorised and regulated by the Financial Services Authority (FSA) - FSA No: 300490 - for the provision of mortgage advice and arranging insurance.