Bad Credit Rating?

A wise man once said “There’s only one crime in this world. And that’s not having enough money!”

Just because you’ve made some bad decisions in the past doesn’t mean that you can’t borrow money to buy a house. It just means that it won’t be as easy as it is for others.

You may have to pay a little more or provide more in the way of paperwork and assurances. You might have to forget about talking to the mainstream banks and look further afield.

But it can be done. There are tried and true ways to do it right. And this is where I can help. I know what the various lenders want in the way of paperwork. I know which banks to talk to and which ones to avoid.

Talk to me. Tell me your story and we’ll work out what you need to do. And if I can’t help you then I’ll tell you pretty quickly so we won’t waste each other’s time.
Debt Consolidation – Structure and Save

One of the most effective ways to get your debt under control is to consolidate your existing loans.

Some of this credit comes very expensive, with interest rates up to 20% and more, with repayments that are dragging you further under month after month.

An effective strategy to help you reduce your debts is to reduce the interest burden. You may be able to do this by consolidating all your loans under a single mortgage or personal loan.

The first step is to separate all the different debts that you have – credit cards, car loans, store cards etc – and establish exactly what you owe, and what interest you are paying on each account.

The second step is to look at how much you can realistically afford to repay each month.

If the bulk of the ‘debt’ is high interest it may be worth consolidating all your debts into one lower interest loan.

One regular monthly repayment can be easier to manage, and a lower interest rate will give re­payments more impact.

The lowest interest rate may be achieved by consolidating debt into a home loan. Most lenders will offer this option as long as there is sufficient equity available in your property to provide security for the loan.

Things to remember

  • Pay attention to any fees and charges associated with consolidation
  • Keep repayments at the previous level – with the lower interest rate this will result in the debts being repaid sooner.
Click to download Debt Handbook

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