CONSOLIDATION LOANS

Package your finance together and pay one monthly payment.

Do you have a range of debts that require payments to various companies each month? These might include a car loan, a mortgage payment, a credit card payment, and a store card payment.

All these payments attract a range of interest rates, with the highest usually being the store card or credit card.

If you have outstanding debts on any of these cards, it may be beneficial for you to roll all these debts into the one loan, which is subject to the cheapest interest rate. More than likely, this would be the interest rate on your mortgage. This will provide you with a lower monthly payment, meaning that with a disciplined payment pattern, you will be able to reduce your debts faster.

It is important to note that by consolidating your debt into a loan such as your mortgage, your payments last for the duration of your mortgage, either 25 or 30 years. Crest therefore recommends that you continue to pay the original monthly payment against the new lower debt to ensure that it is paid down within the original time frame and not over the longer period.

To obtain more information about this complex area, submit your details and a Crest account manager will contact you to assess your situation.