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With a Debt Consolidation Loan you can borrow from £5,000 to £75,000 and up to 125% of your property value in some cases.
A Debt Consolidation Loan is a low cost loan secured on your home. It frees up spare capital (or equity) in your home to repay your store card and other debts.
There are also disadvantages to a debt consolidation loan such as:
Can pay more over a longer period.
May incur additional costs for setting up loan.
If secured, your property may be at risk.
You will be left with only one creditor - this can make it difficult to negotiate should you have further problems in repaying your loan. If loans you are consolidating have all interest added at start you may in effect be paying interest twice. The interest charged for first loan and interest charged for consolidation.
You may freely reprint this article provided author's biography remains intact:
John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the www.directonlineloans.co.uk website.