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.
Related
January is a natural time to get organised. Budgets are under review, paperwork is being sorted, and...
Read More >
January is often when people take a step back and look at their finances with fresh eyes. Once the f...
Read More >
Delivered by Chancellor Rachel Reeves on 26th November, the 2025 Autumn Budget brings a mix of new c...
Read More >
The festive season can be magical. But honestly, we are speaking to so many of our clients, and the ...
Read More >
Big news from the mortgage world: Nationwide are releasing interest-only mortgages to first-time buy...
Read More >
As your broker, I want to help you not just protect your financial future with the right mortgage or...
Read More >