Debt Consolidation
A debt consolidation loan can sometimes be a good way to simplify your finances and reduce your monthly debt repayments, making your debts more manageable.
At Bridgewood we do not lend money but, based on our understanding of your situation, we have a number of approved partners who could help you turn your multiple debts into one convenient monthly payment, helping you to get your finances under control, and would be very happy to introduce you to one of these partners.
The most common form of consolidation is a Secured Loan. As the name suggests, these are loans that are secured on your property, in much the same way as a mortgage. Secured loans require no upfront survey, legal or other fees. Fees are usually payable but only on completion and can be added to the loan.
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You need to think carefully before securing other debts against your home, since your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Debt consolidation may increase the amount to be repaid in the long term.
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