Debt Consolidation (8.5% APR typical variable)
If you find yourself struggling to meet your monthly repayments on your unsecured debts such as your credit or store cards and want to reduce your monthly outgoings, then a secured debt consolidation loan could be the answer.
What is a Debt Consolidation Loan?
A secured debt consolidation loan means that you can use your release your current equity in your home to pay off any expensive and unsecured debts.
A debt consolidation loan will allow you to consolidate your unsecured debt into one loan. This loan will mean that you only need to pay one creditor a reduced amount. You will often find that a Debt Consolidation Loan can offer you a better interest rate than your unsecured debt and that you can spread the payments over a longer period of time.
Is a Debt Consolidation Loan Right for Me?
A Debt Consolidation Loan is not right for everyone. As your loan will be secured against an asset, such as your home, it is important that you can afford to make the payment to your new loan. Failure to do so may mean that your home is at risk. For more information about whether a debt consolidation loan is right for you, as well as any alternatives, please contact the Loan Application team on 0808 131 0036.
Want a Debt Consolidation Loan but have a Poor Credit Rating?
It doesn't matter what your financial circumstances are, whether you have been turned down for a loan in the past or have late mortgage payments - in fact we specialise in helping those with a bad credit history.
It is even more important that you seek professional help if you do have a bad credit history, so that your debt consolidation loan doesn't come with a higher interest rate than necessary.
This is why we search the market to find you the best deal on a debt consolidation loan to suit your needs. Contact Loan Application today on 0808 131 0036 for professional advice and the best possible service.
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.
LoanApplication.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.