Consolidation Loan - Are you Trapped by Bad Credit?

Consolidation loans are a popular way to help consolidate and manage debt, but you should make sure you get a consolidation loan that is competitive. Using a trusted financial company, such as Homebank, you can find mortgage advisors who could help you find the best consolidation loan from their panel of lenders. If you are trapped by bad credit, debt consolidation loans offer low interest rates and are a solution to managing your debts.

Trapped by a bad credit history?

If you have a bad credit history you can feel trapped by high interest rates, which is why it's important to shop around for a good rate when you choose a consolidation loan. Using specialist advisors who have access to thousands of lenders and who understand how the consolidation loan market works is the best way to ensure you get the right debt consolidation loan for your individual situation.

Consolidation loan - A quick fix

A consolidation loan can be a 'quick fix' solution to consolidating debt. Once you have decided to take out a consolidation loan however it's important that you manage to upkeep repayments as secured consolidation loans will use the value of your house as security. But if you seek financial advice and find a good value consolidation loan it could put you back on the road to financial health, and help you improve your credit rating.

If you are taking out a consolidation loan and have an existing mortgage, because you have put something of value up as security a secured consolidation loan is a cheaper solution to debt management offering better interest rates.

Consolidation loan for financial freedom

Before you take on any kind of loan, you should ensure you can afford the repayments. It is helpful to draw up a budget taking into account your income and spending and how that might change over the period you have to repay the loan. You need to do your research and shop around to find the cheapest rate for you, or better still contact a company that can offer you expert advice and guidance and do the leg work for you.

Some useful guidlines to follow are:

Shorter loans mean less interest
Check the small print for fees and Early Repayment charges
Consider loan insurance incase you fall ill
Talk to the experts about how a consolidation loan could help you

Homebank's mortgage advisors are experienced in helping people finding the right mortgage or consolidation loan to consolidate their debt and are always available to provide debt consolidation advice or to give debt management tips. They could help you reduce your debt to affordable single monthly repayments giving you the chance to get out of debt quicker by reducing your monthly outgoings. Call Homebank now on free phone 0800 052 3604 and see how they can help you.

The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.

Homebank Financial Services Limited is an appointed representative of The Willow Tree Management Company UK Ltd which is authorised and regulated by the Financial Services Authority.
Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage or other loans secured on it.
For mortgage related services the fee will typically be 1.79% of the mortgage advance applied for, minimum fee of �750. In addition, there may be a valuation administration fee of up to 0.7% of the loan amount. For example if you take out a loan of £50,000 you will need to pay a total of up to £1,245; comprising of the broker fee of £895 and the valuation administration fee of up to £350. This in addition to any commission we may recieve from the lender. Broker fees may be added to the mortgage.

Not all Buy To Let mortgages are regulated by the Financial Services Authority
Adverse Credit - The overall rate for comparison is 9.2% APR. The actual rate available will depend upon your circumstances. Ask for a Key Facts Illustration
Right To Buy Mortgages - The overall rate for comparison is 8.9% APR. The actual rate available will depend upon your circumstances. Ask for a Key Facts Illustration

CURRENCY MORTGAGES - CHANGES IN THE EXCHANGE RATE MAY INCREASE THE STERLING VALUE OF YOUR DEBT.
Homebank Financial Services Limited is entered on the FSA register under reference number 464724, as an appointed representative of The Willow Tree Management Company UK Ltd, who are also registered under the FSA register under reference number 310569.