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Debt consolidation following Christmas spending

Many of us will have made a big dent in our Christmas shopping to do list, but at what expense?

Budgets this year are significantly tighter, and many will have turned to borrowing via credit cards, store credit and loans to afford a Christmas like those enjoyed previously.  But what if the debts are growing and you’re unsure how you’ll look to repay them in the New Year?

Debt consolidation loans could help round up the existing debts into one easier to manage outstanding debt.

Benefits of debt consolidation:

  • Streamlines finances: combining multiple outstanding debts into a single loan reduces the number of payments and you won’t have to worry about multiple due dates
  • May reduce monthly payment: your overall monthly payment is likely to decrease because the future payments are spread out over a new and perhaps extended loan term allowing you to free up some of your monthly expenditure. This may mean that you are paying off a higher amount over time.
  • Could lower interest rate: You could be going on a lower rate of interest through a mortgage or secured loan. You will be going from high interest unsecured debt to low interest secured debt

Book a call in for January to discuss how we could help support you
through the post-Christmas debt difficulties

SPEAK TO AN ADVISER

If we think you are eligible, we will introduce you to a nominated secured loan specialist company.  Fees may be payable but these will be discussed during the advice process.  Securing debt on your property, may mean that you are paying off a higher amount over time and the duration of the debt may be extended.

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Fairview Financial Ltd is an appointed representative of The Right Mortgage Limited, which is authorised and regulated by the Financial Conduct Authority. Fairview Financial Ltd is registered in England and Wales no: 10912424. Registered office: 107 Promenade, Cheltenham, GL50 1NW.

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

@ 2020 by Fairview Financial

Our Fees        

A fee may be charged for mortgage advice. The exact amount will depend on your circumstances.

Our standard fee for mortgages is £395 and this is paid when the mortgage is offered. We charge a fee of £295 First-Time Buyers. Other fees may apply depending on the complexity of the work involved or loan amount. The maximum fee we can charge is £795.

Our standard fee for Equity Release is £895 and this is paid on completion.

We also receive a commission from the lender that will vary depending on the lender, product or other permissible factors. The nature of any commission model will be confirmed to you before you proceed. If we receive a commission, this will not affect the cost payable by you.

THINK CAREFULLY ABOUT SECURING OTHER DEBTS AGAINST YOUR HOME.

YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBTS SECURED ON IT.

BUY TO LET MORTGAGES ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.

EQUITY RELEASE: THIS IS A LIFETIME MORTGAGE. TO UNDERSTAND THE FEATURES AND RISKS, PLEASE ASK FOR A PERSONALISED ILLUSTRATION. CHECK THAT THIS MORTGAGE WILL MEET YOUR NEEDS IF YOU WANT TO MOVE OR SELL YOUR HOME OR YOU WANT YOUR FAMILY TO INHERIT IT. IF YOU ARE IN ANY DOUBT, SEEK INDEPENDENT ADVICE.


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