Debt Consolidation Loans
If you are paying too much interest on your loans then a debt consolidation loan could be the answer. A debt consolidation loan can reduce your repayments up to 40%. Many people have a home loan, credit cards, and a personal loan or two. This means you may be drowning in debt and a consolidation loan can combine all of these into a lower interest loan so reducing your repayments.
If you already have a mortgage, your existing debts such as credit cards and personal loans, can be added to your mortgage. This will incorporated all of your high interest debts into a lower interest loan and so saving you a lot of money in excessive interest.
What is a debt consolidation loan?
A debt consolidation loan is a loan that replaces multiple loans such as credit cards and personal loans and combines them into a lower interest rate loan.
Debt Consolidation Benefits
- When you change to a debt consolidation loan you only have to make one repayment.
- Lower monthly repayments.
- Longer repayment periods.
- Can be combined with a mortgage.
You can get a debt consolidation loan on its own to lower your credit card repayment and personal loans. However it is more powerful to combine a debt consolidation loan with your home loan at a lower interest rate.