{"id":16198,"date":"2023-01-18T13:29:50","date_gmt":"2023-01-18T13:29:50","guid":{"rendered":"https:\/\/valoracasa.es\/?page_id=16198"},"modified":"2026-11-04T16:43:13","modified_gmt":"2026-11-04T16:43:13","slug":"debt-consolidation","status":"publish","type":"page","link":"https:\/\/valoracasa.es\/en\/reunificacion-de-deudas\/","title":{"rendered":"Debt consolidation"},"content":{"rendered":"

\"debt<\/p>\n

Debt consolidation: what is it? How is it done? How much does it cost? Who can do it? Which banks offer it?<\/p>\n

It's one of the most common options for people who have to pay several loan repayments each month amounting to a very high outlay.<\/p>\n

To get some breathing space and keep up with payments without it hitting their personal finances too hard, clients go to their bank to consolidate all their loans into a single repayment.<\/p>\n

With this guide we want to help you consolidate your debts on the best terms and without complications.<\/p>\n

Want to pay less for your loans and debts?<\/h2>\n

One way to pay less for your debts each month is debt consolidation. It means grouping all your debts and loans into a single payment so you pay less each month.<\/p>\n

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Free financial advice<\/p>\n

Shall we talk about your mortgage?<\/p>\n

We find the best mortgage for you and arrange it free if you buy with Valoracasa.<\/p>\n

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Book an appointment on WhatsApp<\/a><\/div>\n
Call 695 03 35 58<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n

How is debt consolidation done?<\/h2>\n

First, you must be up to date with all payments. Banks don't grant loans to clients who currently have an unpaid repayment. However small, it's a clear sign to the bank that it may have trouble collecting repayments in future.<\/p>\n

Second, you need an income. You can't get any bank loan without a regular income. You'll also need a permanent contract with at least 3 months' service and job stability.<\/p>\n

Bear in mind that the repayment resulting from refinancing your loans shouldn't exceed 40% of your monthly income, so you don't exceed your debt-to-income ratio.<\/p>\n

Finally, you'll need a property to act as security for the bank in case of default. The home will be charged with the amount requested and released once the full debt has been repaid, whether through the ordinary repayments or early repayment.<\/p>\n

The home should have no charges or, if it does, they shouldn't be very high. Bear in mind that you'll actually be applying for consolidation, in which the lender pays off your debts and secures them on your home, combining the payment into a single mortgage repayment over the agreed term and conditions.<\/p>\n

With this system you'll pay more interest over a longer term, but you'll get a much more manageable monthly repayment.<\/p>\n