Think carefully before securing other debts against your property.
Your home may be repossessed if you do not keep up repayments to your mortgage.
If you are thinking of consolidating existing borrowing, you should be aware that you may be extending the terms of the debt and increasing the total amount you repay
REPRESENTATIVE EXAMPLE
If you borrow £30,000 over 180 months within Interest rate: 9.25 %. Fixed for 5 years from completion of the loan, & then a variable rate, currently 9.75% for the rest of the term.. £353.53 during the initial fixed-rate period of 60 months & thereafter £363.89 when the rate will be variable. The variable payment shown will differ should the rate change. Total amount payable of £64,878.60 comprised of the loan amount (£30,000); interest (£30528.60); broker fee (£3,750); lender fee (£600). This would result in an overall cost of 12.6% APRC.
Rates from 6.95% to 26.3%.
All fees charged by our partner (Optimise Finance) will be explained in detail and subsequently in writing prior to commencement of any loan that our partner(s) are able to provide.
Fees will only be payable where further services from our partner are requested and depending on the solution, costs may vary.
The Money Advice Centre does not generate leads for resale and all enquiries are managed directly by The Money Advice Centre.
When we introduce you to Optimise Finance, please be aware you are subject to their terms conditions and privacy policy.
Please also note that if you’re having difficulty managing monthly repayments, we may refer you to Refresh Debt Advice to look at non borrowing debt solutions. Refresh debt advice is a trading style of Refresh Debt Services Limited is registered in Northern Ireland (No. NI1055582). Refresh Debt Services is authorised and regulated by the Financial Conduct Authority, No 674160. Information Commissioner’s Office (ICO) Registration No Z9114806
All information and services provided by The Money Advice Centre are free of charge.
THE MONEY ADVICE CENTRE LTD is Registered in England and Wales (Company number 14186998),Registered Office; Suite 2 Egerton House, Wilmslow Road, Manchester, England, M20 2DX. Our ICO Number is ZB432317 which allows us to hold your information. By submitting an enquiry, you confirm that you have consented to being contacted by The Money Advice Centre and/or our partners so therefore we may contact you by post, phone, and email however you can OPT-OUT at any time by informing us or our partners directly.Money advice Centre in an introducer only to Optimise Finance who are regulated by the Financial Conduct Authority and is entered on the Financial Services Register under reference number: 724841. Buy to let, Bridging and commercial loans are not regulated by the Financial Conduct Authority. (Loans Secured On Your Home)