Omnial Loans
Secured loans, unsecured loans, debt consolidation, lower interest rates, we are specialists in loans and debt management. We can arrange loans for any purpose, whether you have a poor credit history, or a good credit rating, we can review your existing arrangements and make suitable recommendations to help you manage your finances.
Consolidation of existing borrowing
Keeping on top of a number of individual monthly payments can be a problem, interest rates on some existing arrangements may be high, particularly on credit cards, and monthly payments on loans taken out some time ago may not reflect the level of current outstanding balance, as it was based on the original capital borrowed, not the smaller amount remaining.
It can be possible to clear existing debts, with one affordable monthly payment for a new loan arrangement at a competetive interest rate. This is known as debt consolidation and could make such a difference to your peace of mind.
Get rid of credit card debt
Getting rid of credit card debt is high on most people's list of financial things to do, if only they could afford to do it. Making a plan to clear off existing expensive credit card debt is one of the most worthwhile actions you can take financially, so do let us help you with it.
Credit card debt can just go on and on, sometimes with little or no hope of ever being able to get out of the financial mess. Our expert loan underwriters can look at your present credit card arrangements and consolidate all your credit card debt on several different credit cards, leaving you with just one affordable monthly payment. The monthly payment is not the only important factor in consolidating credit card debt, though. The peace of mind of knowing you are clearing off your debts and at the end of the loan repayment period all the debts you consolidated will be completely cleared, leaving you with a healthy financial future.
Loans for any purpose
Your loan can be used for just about anything, the most usual needs being debt consolidation, home improvements and major purchases, weddings, furnishings..........
Lower interest rates
When interest rates comes down, the new lower rates are not always passed on to existing borrowers, so some people may be paying more interest on their existing loans than is necessary. We may be able to arrange for lower interest rates for you now, so you can either have lower monthly payments, or release further capital for the same monthly repayments as you are making on your old loans.
Poor credit history
Even if you have a bad credit record, we will usually be able to help you. Missed mortgage payments, late with the monthly credit card bill, even with CCJs (County Court Judgements) something suitable to your circumstances can be arranged.
Reducing monthly outgoings
If you are having trouble keeping up with your monthly outgoings, it is often possible to re-organise financing, to reduce the monthly repayments considerably.
How do we reduce monthly outgoings? First we look at your existing loan arrangements and calculate whether alternative financing would result in a lower overall monthly payment. There are two main reasons why this may be possible.
The first is interest rates, you may have taken out fixed a rate loan at a time when interest rates were higher than they are now. Just taking out a new, lower interest rate, loan to clear off the existing higher interest loan can make quite a difference to monthly repayments, making them more affordable.
The second is that monthly loan repayments usually stay the same throughout the term of the loan, so, you may be paying the monthly repayment for your original loan amount, although the amount still owing could be half or a quarter of that.
Self certification
Sometimes it can be difficult verifying current income, to support ability to make monthly repayments. For example, a small business run by a self employed person, may have grown substantially over a couple of years, with steady income you are sure will continue, although this may not be reflected in the most recent business accounts, which will be for previous years, while the business was still growing. We can arrange for your income to be self-certified, which means more flexibility in the loans available to you.