What if I've got bad credit?
We can usually arrange consolidation loans for anybody regardless of their circumstances.
However, due to the current economic climate lenders have tightened their belts and increased the acceptance criteria.
Consolidation Loans which are most likely to be approved are those that are secured against an asset such as a property with equity in it.
What is your approval rate?
This is hard to determine and varies dramatically due to clients' requirements, circumstances and lending criteria.
Can I borrow more than what I want to consolidate?
You can sometimes borrow more than you need so long as the additional amount isn’t excessive and you are still able to afford the monthly repayments comfortably.
What if I'm not a homeowner and don’t have any assets?
We can arrange unsecured consolidation loans. If this is unsuccessful we can help you to arrange any other form of debt solution to help you get back on your feet financially; without paying out vast amounts each month and incurring interest charges.
How long does it take?
Our online application process can usually give you a decision in principal within 24 hours. From there you can sometimes have funds in as quickly as a few days.
Should I expect any repercussions?
If you consolidate your loans into a secured loan then you will reduce the amount of available equity in your property as the total, larger loan will be secured against your home.
Consolidating your loans may mean that you extend the length of time it takes to repay your debt which will mean paying more interest over the long run.
Apart from that the onus lies with you to ensure you to not borrow more money once your consolidation loan is in place as non-payment of a secured consolidation loan may mean you lose your home and assets.
What if I am declined a consolidation loan?
If you are refused a consolidation loan we can offer you a range of financial solutions to help you get back on your feet and reduce your monthly outgoings.
Our debt solutions include Debt Management Plans, IVA’s, Scottish Trusts Deeds and Full and Final Settlement offers.
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 ANY OTHER DEBT SECURED ON IT.15.9% APR typical variable.