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What should I check if consolidation introduces security?
Identify the asset, security terms and consequences under local law.
Keep the risk comparison separate from the payment comparison. Independent qualified advice may be needed before converting ordinary debt into an obligation supported by a home or another important asset.
Details
- Identify the amount received and the opening balance
- Read fee treatment in the written offer
- Compare the dated repayment schedule
Before you compare offers
Read the borrowing-cost checklist
Read which records support an application, then compare the checklist with the documents requested by the provider.