Debt Consolidation
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What is a debt consolidation re-mortgage?
Sometimes in life we over spend! This maybe because of financial
circumstances beyond our control or because we needed to complete necessary
home improvements, get a new car, holiday or a number of reason!
A debt
consolidation loans in UK or re-mortgage Deals can be taken out to pay debts
such as credit cards and store cards, outstanding payments from catalogues and
personal loans. These payments on top of your current mortgage can put you
under financial pressure leading to further financial problems or even tempting
you to take another short-term fix that will potentially make the situation
worst.
Taking out a debt consolidation loan Programs, Advice or Best
Remortgage Deals means that you will only have to make one monthly payment
rather than several monthly payments to cover your debts. This can make it
easier for you to manage your finances and, in theory, makes keeping up with
your payments simpler.
What
are the Best Debt Consolidation Loan Options? Debt Consolidation re-mortgage,
further advance or secured loan?
Debt
Consolidation Companies in Uk
This is when you re-mortgage away from your current lender and
take a new mortgage with a new lender. This would pay back your current
mortgage balance and enable you to raise funds to clear all or some of your
most expensive debts. You can debt consolidate up to 90% Loan to Value.
Generally Debt Consolidation Lenders can tailor a budget that suits you and
normally this can save you hundreds of pounds per month. We try and get you a
better rate on your mortgage and offer a free valuation and free solicitors in
transferring your mortgage.
Debt
Consolidation Further Advance
This is when you choose to remain with your current lender.
This may be the best solution for you because you have a high redemption
penalty should you leave your lender at this time. We can help you present a debt
consolidation further advance to your current lender. We are best Debt Consolidation
Mortgage in UK and The rate is normally higher than the lenders current
products but this is still a great way to reduce your monthly payments.
Obliviously like any loan it is subject to credit score and your current
circumstances.
Debt Consolidation
Loan Advice
Sometimes if you cannot leave your lender because of redemption
penalties or credit issues or criteria issues then a secured loan might be a
better solution.
Your current lender may have said no to a debt consolidation
further advance and your circumstances will not allow you to leave your current
lender. A secured loan for debt consolidation is another lender that will take
a second charge against your property and act as a second mortgage leaving the
first mortgage in place. The rates on these start from 3.5%. This can be a
sensible solution to pay off high percentage credit and store cards. With a
debt consolidation secured loan the lender are more flexible with minor credit
and affordability issues.
Other things to consider with a Bad Debt Consolidation Mortgages or Loan
If you decide to consolidate your debt you need to consider the
following! At the moment you have debt that is unsecured. If you use a mortgage
or secured loan you will be securing this debt against your home. This may
reduce your payments but the debt is now secured.
You are also potentially extending the term of your debt to
help your affordability. For example, you may consolidate your credit card say
£10,000 which you are paying £300 per month at a potential interest rate of
20%. This would take you over 4 years to clear this debt. If you converted this
into a mortgage with a rate of say 2% this would reduce your payment to just
over £200 per month if you kept the same 4 year term. If you extended the term
say to 20 years the same £10,000 your month payment would be around £50 per
month.
Best
Debt Consolidation Programs
By considering a debt consolidation loan you may be able to
stop potential further financial trouble or make life a little bit easier. It
is important to maintain your credit history.
If you think that a debt consolidation loan is for you then
contact us today.
We have extensive experience in consolidating debt into a
single secured loan, mortgage or further advance. We will find you Debt
Consolidation Lenders and provider that fits your requirements as well as
explaining the costs of your Debt Consolidation Loans in Uk.

