Consolidation Loan FAQ
The following is a list of frequently asked questions about
How much can I reduce my monthly
- How much can I borrow?
- Over what length of
time can I spread my repayments?
- Can I use the loan
for more than debt consolidation?
- What if I have an
accident, am ill or get made redundant?
- Can I move house if I want?
How much can I borrow?
There are a variety of factors which dicatate how much you can
borrow. Whilst your income and, for secured loans, the equity
available in your property are key, the main one is that you can
afford to make the monthly repayments. We can arrange loans from
£3,000 up to £1 million.
Can I use the loan for more than
Certainly. Consolidating your existing credit allows you to free up
money for other things. You can borrow extra for that new car, boat
or caravan, to pay for your dream holiday or so you can have the new
windows or conservatory put in. The choice is yours, as long as you
do not over-borrow.
What if I have an accident, am
ill or get made redundant?
We can arrange optional accident, sickness and unemployment cover if
you want the added peace of mind this brings. Life assurance is also available.
Can I move house if I want?
Absolutely. If your consolidation loan is secured against your house
then you can use the proceeds of the sale to pay the oustanding
balance of the loan or, where you are moving to another property, you
may be able to transfer it to your new home. Either way, contact us
and we'll help you decide ont he route whhich is most suitable for you.