Revolving Credit

Finance and credit is an important part of modern day living, revolving credit is a form of finance option that allows you to borrow money with now fixed repayment term, common examples of this is your bank overdraft and credit cards.

Revolving credit can be a very useful facility but you do often pay a premium in interest against forms of credit such as loans and mortgages that have a pre-determined monthly payments and finance term.

If misused then revolving credit can result in a slow decline of debt, this form of debt is meant to be used for short periods of time to cover cash flow short falls, it is important to consider reviewing your finance`s if you are continually in debt using these type of credit products.

Getting out Of Revolving Credit

If you are stuck in your overdraft or see your monthly credit card debt increasing each month instead of paying back a percentage of the debt balance you may consider your debt consolidation options. First Choice Finance have a large number of debt consolidation loan and remortgages available, allowing you to consolidate your existing short term finance into a more structure debt with a determined date for when the debt will be cleared. Consolidating your debt can allow you to create a repayment plan that you can afford and possibly reduce the amount you are paying back each month by extending your loan or mortgage term, it is important to remember that if you do increase the length of the finance term you may end up paying more over the length of the finance agreement, but you may well see less stress on your monthly cash flow. For more information please contact us at First Choice Finance and we will be happy to discuss your needs and requirements.

Our expert staff have been helping provide finance for over 30 years. We are qualified to answer many questions regarding borrowing and the different options available. Our staff has the knowledge to help people in all walks of life. From the A+ credit customer to the customer in debt and credit problems, our knowledege directs the customer in a way to either close the loan or mortgage that will better their life or simply advise them to wait until a future date.

First Choice Finance has loans, mortgages and remortgages avaliable for the customer wanting to purchase a new home or to use the equity in their existing home to pay off high rate revolving credit debt, high rate credit cards, or do a combination of both. After thousands of loans and mortgage, we have built a reputation second to none. Our rates are competitive and our loan processing is first rate. We can provide answers within minutes of taking an application, with the term, rate and what information is needed to close your finance agreement.

If you are a homeowner and want honest answers about mortgage loans, call our expert, informative staff at First Choice Finance.

We are there when you need us!

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.