UK Consolidation Loans | Debt Consolidation | Call 01738 583008

Debt consolidation loans are a very popular solution for people who are finding it increasingly difficult to manage their monthly credit commitments. Maintaining an excellent credit rating is very important if you intend to take out any new credit facilities – whether it’s a mortgage, personal loan or a credit card.

If you fall into arrears with debt or a mortgage it is always best to keep communicating with your lender. If the situation continues to get worse, your options will become more limited. A new loan may no longer be possible and other solutions such as a Debt Management plan or in extreme situations, an IVA (or a Trust Deed in Scotland) could be the only available options.

If you decide that a debt consolidation loan may provide an appropriate solution, it is recommended that you apply for one as soon as possible. This is to ensure that your chances of being approved are optimised before your credit profile gets any worse.

By rolling your payments into one easier payment you can in many cases save up to 50% on your existing monthly loan and credit card payments.

Here’s how it works. Let’s say you have:

BANK LOAN £12,000 costing £270 per month
CREDIT CARDS (various) £20,000 costing £600 per month
CAR LOAN £9,000 costing £210 per month
TOTAL £41,000 costing £1,080 per month

A secured loan for £41,000 taken out over 20 years could reduce your payments to £329.71 per month at a variable APR of 8.1% - saving you a massive £750 per month.

Once your new loan is in place, if at some point in the future you are in a position to redeem the facility, say by the sale of your property or a remortgage, the early repayment charges are very low. In most cases they are one month penalty interest as long as you give one month notice.

Consolidating loans and credit cards over a longer period than existing credit commitments can cost you substantially more in interest payments in the long run.

Please note that our typical rate is 11.9% APR which means that at least 2 out of 3 of our customers get this rate or lower. All loans are subject to status and affordability assessment.

 

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER DEBTS SECURED ON IT.

 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


 
Apply Now
Introducers
Facebook
Client and Introducer Testimonials
Secured Loan Awards
Finalist - Best Small Broker 2015
Business Star Awards
2/17 King James VI Business Centre, Friarton Road, Perth, PH2 8DY
Tel: 01738 583008 | Fax: 01738 500402


The Lending Channel is authorised and regulated by the Financial Conduct Authority. Company number SC334818
Data Protection Act: Z2030159

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP YOUR REPAYMENTS ON A MORTGAGE OR OTHER DEBT SECURED ON IT
The Lending Channel - Official Twitter Page The Lending Channel on Facebook The Lending Channel on LinkedIn
 
  HOME  -   WHY THE LENDING CHANNEL  -   APPLY NOW  -   INTRODUCERS  -   SECURED LOANS  -   BRIDGING & DEVELOPMENT  -   PRIVACY POLICY  -   TERMS & CONDITIONS  -   SITEMAP  -   DEBT CONSOLIDATION LOANS  -   NEWS  -   COMMERCIAL MORTGAGES  -   TESTIMONIALS  -   MEET THE TEAM  -   FREQUENTLY ASKED QUESTIONS  -   CONTACT US  
  © THE LENDING CHANNEL
[Financial Services Web Design by Inspire Web Development]