Consolidating debt means that you combine your debt into one single payment. If you find it a struggle to keep on top of your multiple debts or you find you run out of money for certain payment dates, then debt consolidation could be the right solution for you.
If your monthly repayments are increasing and you are struggling to make them, consolidation your debt could be the best solution to your financial affairs. Not only can debt consolidation offer you one monthly payment, but it can also reduce the amount of interest that you pay.
Debt Consolidation Loans are often secured against your home, this means that creditors are often willing to offer a much lower interest rate than store cards and credit cards.
As you are making one reduced payment this will leave you with cash to spare at the end of the month, which may alleviate the pressure on secured debts such as mortgage repayments or utility bills.
For more information about how debt consolidation can work for you, you need to get in touch. Our advisors are experts in their field and will find the right solution to suit your circumstances. Call today on 0808 131 9105.LOANS MAY BE SECURED ON YOUR HOME. THINK CAREFULLY BEFORE SECURING DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBTS SECURED ON IT. IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERMS OF THE 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.
DebtConsolidate.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.