February 12, 2021 at 1:01 PM

At Mortgage Field we have access to banks and lenders for not only home loans but personal loans. Clients of Mortgage Field have been able to obtain a home loan as a result of consolidating their debts into one personal loan. 

How can a personal loan help?

We have offered our clients personal loans to consolidate a range of debt for a number of reasons, here are are some of them;

1. Pay a lower interest rate.
   Debt consolidation loans are charged at a much lower rate than all of your individual loans or debts, such as hire purchases or credit cards.
2. Reduce repayments.
   By consolidating your debts with a personal loan, you’ll be left with just one easy-to-manage repayment, which often equates to a lower amount than all of your individual loans combined.
3. One debt to manage.
   Multiple loans can be a hassle. When is payment due? Have I got enough in my account when its due? They each come with their own terms, conditions, rates and repayment dates. Juggling day-to-day life is difficult enough without the added stress of multiple creditors breathing down your neck, which is why consolidating your debts into the one loan is just so sensible. It’s predictable, manageable, and makes your life easier.
4. Improve chances of a home loan.
   On a home loan application, your debts and its repayments could prevent you from borrowing a home loan. If the consolidated personal loan were lower than what you are currently paying then this gives you a better chance of meeting the banks affordability criteria.

Send us an email on enquiry@mortgagefield.co.nz or call 03 230 4885 to find out more or if you wish to apply.

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