| Christmas and the festive period is usually a busy and exciting time of year, that we all look forward to. However, it can also be stressful and extremely expensive, with gifts to buy for family and friends, and parties and gatherings to attend. We can feel under pressure to spend, when we perhaps cannot afford to. This year, more than ever, many of us will have felt the pinch due to the cost of living crisis and high energy bills, and may have cut back on our celebrations.
January can often feel a little blue, especially if you are amongst the millions of people nursing a post-Christmas financial hangover, having racked up further debts. Rather than fretting, there are positive steps you can take to reduce your monthly outgoings. Perhaps your New Years’ resolution is to get on top of your finances! Please speak to a qualified adviser, rather than burying your head in the sand.
If you are juggling costly unsecured borrowing (on store or credit cards for example), it is likely that you will be paying significantly more interest, and therefore higher monthly payments than if you were to consolidate your borrowing into one loan. Making multiple monthly payments can also be stressful, and increase the likelihood of missing further payments!
Consolidating debt, can reduce your monthly outgoings and stress, leaving you with more disposable income monthly. You do need to bear in mind, that debts would then be secured against your property, and it may mean paying more interest in the long run, over the term of the mortgage.
There are a number of ways we at Ingard can help with debt consolidation, depending on your circumstances and whether you have a current mortgage, and we will discuss all relevant options with you. These include a remortgage, further advance with your current lender, or a second charge.
It may also be that you had a festive break, finally had the chance to sit down and take stock, and have decided you want to move, or raise funds to improve your home. Or, you may wish to release equity to help relatives with a deposit or home improvements.
If you’d like to discuss debt consolidation, or raising funds on your home/property for any reason, don’t hesitate to get in touch. Our experts will be happy to help.
Call us on 01702 538800 or email enquiries@ingard.co.uk |
