With interest rates on credit cards often ranging from 12-18 percent, that can produce a real savings.Second, you may be able to set up a consolidation loan that lets you pay off your debt over a longer time than your current creditors will allow, so you can make smaller payments each month.If you have missed payments in the past, there’s a risk you’re an unreliable borrower who could do so again. A fee of 12.5% of the net loan amount, capped at £2975, is payable upon completion.Here at Ocean, we specialise in loans for people with bad credit histories. The actual rate available will depend upon your circumstances. Excellent service from the first call to completion.
This not only simplifies the payments, but can also provide real debt relief by reducing those payments as well.
By comparison, mortgage rates are currently in the 3–4% range.
If the current value of your home is greater than your current mortgage balance, it means you have equity in your home.
Depending on your situation, refinancing can attract a range of fees and other charges, including: You should factor in all of these costs when calculating whether refinancing works for you.
An Aussie Mortgage Broker can meet you to discuss your personal circumstances and help you identify the costs of refinancing your home loan.