Debt Consolidation Loans

www.mortgagepluscc.co.za

What is Debt Consolidation?

Mortgage Plus through Aspire utilises its own funding to provide you with one loan to settle your debts, even if you have a poor credit profile.

A home loan is secured against your property and carries one of the lowest
interest rates. The aim of debt consolidation is to increase the amount of the
existing home loan and use this amount to settle your debts. This should
improve your monthly cash flow due to the lower interest rates and finance
charges offered on home loans.

How Does It Work?

	We loan you the amount you require and use this amount to settle your debts
	You remain the owner of the property
	Judgements that have been taken against you are rescinded
	Your credit bureau profile is improved dramatically
	Once your credit bureau profile has improved, we apply for an additional home loan.
	Our loan is repaid by the bank that grants you the additional home loan.

What are the Requirements?

	Your debt must be more than R30 000
	Your gross monthly household income must be more than of R8 500
	You must have sufficient equity in your property – minimum property value of R200 000
	A maximum home loan of 75% of the current market value of your property is applicable (including your existing home loan)
	Your monthly home loan repayment cannot exceed 30% of your gross monthly household income

We will need a copy of the following from you:

	ID document
	Marriage certificate (if applicable)
	Anti-nuptial contract (if applicable)
	3 Months bank statements
	6 Months bond statements
	3 Months salary slips
	Latest rates account
	Latest water & electricity account