Consolidation could be one answer

Consolidation could be one answer

Your privacy is important to us. By sending this you agree that only First Choice Finance may use these details to contact you. Any data we hold for you will be handled in accordance with our PRIVACY NOTICE.
Highest Loan To Value Purchase Mortgages And Remortgages - Low Rate Loans From £5,000 To £150,000 - Release Your Equity With An Equity Release Plan

Video transcript

Looking into debt consolidation loans could result in lower repayments, but around one out of five (18 per cent) people don`t know that they may be able switch their loan balance from one provider to another.

That`s one of the startling things that`s emerged from research by Sainsbury`s Bank, suggesting that many people struggle on with multiple repayments for credit cards, store cards and other unsecured borrowing, rather than finding an alternative that could ease their cash flow and more affordable.

Sainsbury`s figures show that the consumers who did know about debt consolidation refinanced to the tune of £2.2 billion in the first quarter of the year, with many taking advantage of a reduction in loan interest rates. On average, borrowers consolidated to the tune of £10,334 each.

Head of Banking, Simon Ranson, believes that people should think about all of their outgoings before looking into debt consolidation, noting that `having all of your borrowing in one place… could have a significant impact on your monthly outgoings`.

If you are a homeowner looking to consider consolidating your credit through a personal secured loan or a remortgage, First Choice Finance may be able to help. We will scour our lenders to find a homeowner loan or mortgage that will suit your needs and try to make your repayments easier to manage. Please bear in mind you should think carefully before securing other debts against your home.

Discover how to get a no obligation free personal quotation by visiting firstchoicefinance.co.uk or calling us on 0333 003 1505, mobile friendly, or dial 0800 298 3000 on your landline. 

Return to the video homepage


Homeowner Secured Loans
9.8% APRC. Representative example: Borrow £50,000 over 180 months. 60 months at 8.1%, £497.83 pcm fixed at 60% LTV. Then 120 months at 10.1%, £539.89 pcm variable. Total payable £94,656.60. Total cost of credit £44,656.60 (including: £795 lender fee, £985 broker fee & £42,876.60 interest). First Choice are tied to certain loan providers.

Mortgages & Remortgages
8.4% APRC.
Representative Example: Borrow £120,000 over 25 years at 5.99%, £778.86 pcm fixed for 3 years at 60% LTV. Then at 8.75%, £974.86 pcm, variable for 22 years. Total payable £286,416. Total cost of credit £166,416 (including: £985 broker fee, £999 lender fee & £164,432 interest)


Unsecured Personal Loans
REPRESENTATIVE 49.9% APR (VARIABLE)
First Choice are tied to certain unsecured lenders.


THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Security is required on immovable property.



Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk

Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home. We Advice Upon & Arrange Mortgages & Loans. We Are Not A Lender.

First Choice Finance is a trading style of First Choice Funding Limited of 54, Wybersley Road, High Lane, Stockport, SK6 8HB. Copyright protected.

First Choice Finance - Reviews

Read Our Genuine Reviews


This website uses cookies. Find out more

Loan Plans