We Arrange Sensible Debt Consolidation Loans
Many of us have encountered situations where we have needed to borrow money, sometimes in need of it urgently. A lot of people out there are looking for debt consolidation loans, consolidating their multiple debts into one single loan or getting a personal loan to get by. If you are looking at taking out a loan or getting a debt consolidation loan, be careful with what you sign up for. You need to take some time to make sure that you are getting a fair deal and it won’t hurt to seek advice too.
A while ago, one of our clients took out a loan for some urgent car repairs and was in such a rush to get the funds that she didn’t take notice of the interest rate she was being charged. She was being charged 47.8%. She even admitted that it was “crazy” but she did what she needed to do to get the money quickly and signed up. It’s shocking what some of these finance companies are charging!
Interest Rates
There are websites online that you can check out like interest.co.nz which show different interest rates on offer from finance companies and other lenders, you may even be surprised with the way interest rates differentiate between lenders.
People normally assume that banks have the best or cheapest options for unsecured loans but banks like ASB will charge from 13.95% to 19.95% for an unsecured personal loan. A bank like the New Zealand owned Co-Operative Bank is one of the better banks and generally has some of the lowest interest rates.
There are also peer to peer lenders, credit unions and finance companies that offer personal loans.
For a lot of finance companies, the interest rate charged will depend on the applicants circumstances. Companies like Finance Now are charging between 12.95% and 29.95%, Gem charging between 12.99 %and 29.99% and Geneva Finance is similar too with rates between 11.95% and 29.95%. You need to watch out for the fees charged too.
I Can Help
I am a mortgage adviser but I also arrange a lot of personal loans and sensible debt consolidation loans.
I work with a number of banks and other lenders to get loans that are suitable for you. If you need to talk to an adviser about consolidating your debt or for a personal loan I can help you today!
