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Consolidation Loan FAQ The following is a list of frequently asked questions about Consolidation Loans. How much can I reduce my monthly payments by? 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 reduce my monthly payments by? This will depend on how much you are paying at the moment and how long you want to take to repay the loan. But reductions in monthly payments can be as much as 75%. TOP 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. TOP Over what length of time can I spread my repayments? This is entirely up to you and will depend on how much you can afford each month. Our loans are usually available over 3 to 25 years, though some mortgages can be spread over 47 years. TOP Can I use the loan for more than debt consolidation? 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. TOP 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. TOP 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. TOP

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