Hot Topics

What if I want to pay my Loan off early ?
Before agreeing to your loan, read the terms and conditions of the agreement. Some loans allow you to pay your loan off early without any penalties, however, some don't.
How can I improve my credit rating?
If you are having trouble getting credit, there are a number of measures you can take to safeguard your credit rating. Here we have listed some helpful hints here to keep you in credit:
What if I want to move house during the term of my loan?
Moving house is only an issue if you have a secured loan – as you have borrowed against the value of your house. How your loan company deals with this varies greatly. Some allow you to transfer your loan to your new property, using your
I have not been with my current employer very long, can I still apply for a loan?
To apply for an unsecured loan you will normally need to provide 3 consecutive pay slips to prove that you have a regular income.
How much can I borrow with a debt consolidation loan?
The amount you can borrow on a debt consolidation loan is basically exactly the same as for a normal loan.

I am having trouble making repayments on my loans, should I get a debt consolidation loan?

If you have a number of debts and are having trouble managing them all, then a debt consolidation loan may be your only option.

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Essentially, a debt consolidation loan is a secured loan tied to your property. This means that all your unsecured debts such as credit card bills, are now held against your property, and by obtaining a debt consolidation loan you will be putting your home at risk. This is why it’s essential that you can afford the repayments for the new consolidated loan, otherwise you may end up homeless.

Alternatively, you could approach a Debt Management Company such as Gregory Pennington or Baines & Ernst. Debt Management companies deal and negotiate with creditors on your behalf to agree lower instalments. They will calculate a single, affordable monthly payment for you based on your individual financial circumstances. Your Debt Management Company will manage the distribution of this payment to each of your creditors. A monthly charge is often included in your agreed monthly repayment for the service provided by your chosen Debt Management Company and terms and conditions will apply.

 

Risk Warning
Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured on it. Security by way of a charge on your home may be required.
Think carefully before securing other debts to your home.