Best Refinancing loan: Refinancing of Debt, Small Loans and Credit Cards

Get the best interest and terms on your refinancing with a loan broker who collects many loan offers.

You can use a loan broker to obtain non-binding offers for refinancing. Then you can choose the best refinancing loan for you.

Many can save a lot of money collecting and refinancing debt like expensive loans, consumer loans, small loans and credit cards.

Get the best refinancing loan without collateral

Get the best refinancing loan without collateral

Duntrim Finance – 21 banks and lenders

Refinance debt from NOK 5,000 to NOK 500,000. Duntrim Finance collects up to 21 loan offers completely non-binding and free of charge on your behalf. This may make the loan from Duntrim Finance the best, of those I have considered, for refinancing debt. The loan offers you receive are valid for 30 days so you have plenty of time to compare them.

Duntrim is referred to as “outstanding” based on over 2,700 customer ratings on Trustpilot. A total of 95% of all assessments are either “outstanding” or “good” with a clear emphasis on “outstanding” ratings.

Interest rate example: Effective interest rate 14.14%, SEK 170,000 / 10 years, Cost SEK 137,463. A total of SEK 307,463.

Requirements for grant:

  • Must be 18 years old.
  • At least 120,000 in fixed income.
  • No payment remarks.
  • Self-employed persons must have been registered in the Bransuy Register Center for over 3 years.

Dooper Finance – 19 banks and lenders

Refinance between 50,000 and 500,000 kroner. Dooper Finance collects up to 19 non-binding offers on your behalf. The lowest nominal interest rate is 6.49% and the highest is 26.9%.

Interest rate example: Effective interest rate 14.00%, SEK 65,000 / 5 years, Cost SEK 24.093. A total of SEK 89,093.

Requirements for grant:

  • Must be 23 years old.
  • Fixed housing in Norway.
  • At least 230,000 in fixed income.
  • No payment remarks.

FIXA Finance – 12 banks and lenders

Refinance between NOK 10,000 and NOK 500,000. FIXA Finance is an excellent loan provider who is rated as 9.3 out of 10 based on 1,247 independent customer ratings. It says something about seeing the needs of each individual customer and taking the time to everyone. Gets up to 12 loan offers.

You can also find a loan calculator that roughly calculates how much you can save by refinancing different sums with different repayment times by following the link to their homepages.

Interest rate example: Effective interest rate 13.00%, SEK 150,000 / 10 years, Cost 112.573 SEK. A total of SEK 262,573.

Requirements for grant:

  • Must be 23 years old.
  • Fixed housing in Norway.
  • At least 200,000 in fixed income.
  • No registered collection cases.

Get the best refinancing loan embedded in a mortgage

If you have a mortgage today, or own a home you can borrow, this can make a very favorable refinancing possible. If you can increase the mortgage loan enough, you can collect small loans, credit cards and the like in one loan with one payment. A collateral mortgage often has very low interest rates compared to a non-collateral loan.

Check out Penger.no (advertisement link ) Ex: eff. Interest 2.29%, 2 mill o / 25 years, cost 621.475 kr, totaling 2.621.482 kr. Penger.no offers a service that can help you obtain more offers for refinancing debt, embedded in a mortgage, with only one application.

Refinancing of debt with payment remarks

Refinancing of debt with payment remarks

Many people who need to refinance as much as possible may have received payment remarks that are attached. This makes it difficult to get loans from most banks and lenders in Norway, including those mentioned above. One can fortunately be granted a loan for refinancing with Yellowtalk. This is a bank that offers loans even where most other banks say no. It is a condition that you own your own home that you can provide as security for the loan.

How to Get Best Refinancing Loans?

How to Get Best Refinancing Loans?

The conditions for a refinancing loan appear only after an individual assessment of each applicant. The conditions a person gets can also be different from bank to bank and lender to the lender. One can avail of a loan broker, such as one of the four mentioned above, to obtain actual loan offers and get a good comparative basis. The number of cooperative banks for each loan intermediary is therefore perhaps the most important factor in getting the best refinancing loan.

One can use multiple loan brokers, and also obtain individual offers from multiple banks and lenders, to increase the chances of obtaining the best possible refinancing loan.

Benefits of refinancing different types of debt

Benefits of refinancing different types of debt

Credit can be great if you take advantage of bonuses and good deals and included travel insurance, but it is not as great if you are going to have outstanding over a longer period of time as interest rates quickly crawl over the 20’s on most credit cards, and sometimes even up to 30.

Micro loans and small loans, which are small consumer loans, also have their good sides, because you can borrow small amounts down to 1000 kroner over just 30 days. The poorer side of the small loan is the same as credit cards have – high interest rates. Certainly between 20 and 30 percent here too – and possibly much, much higher. This is often because the repayment period of the loan extends over a short period of time so it can make little sense to compare annual interest on loans to be repaid after one or a few months. If, on the other hand, you have lost your ability to pay or for other reasons do not get paid according to the plan, such small loans can also become very expensive.

Many refinancing providers offer repayment periods up to 15 years. This allows you, in many cases, to get low monthly installments.

Another advantage is that you only get one bank to deal with, which can help you better understand your debt. Then you can spend less time paying bills.

How Much Can You Save By Collecting Debt?

How Much Can You Save By Collecting Debt?

Many have a lot to save by refinancing. According to journalism presented at NRK.no, over 300,000 people with high credit card debt of over 60,000 are struggling, and 1 in 4 of these can save tens of thousands of dollars by refinancing – it is easily earned (saved) money!

How much you can save depends on how much and how expensive the debt you have and also how fast you can pay it down. If you do not have the opportunity to pay off quickly, before any high interest rates and fees start to cost a lot, it often pays to refinance. Of course, whether it pays depends on how good the refinancing loan is. Which interest rate you get determines individually, and also varies based on the type of loan you use. If you have a mortgage today, which can be extended enough to pay your various debt items, it can often be the way to the lowest possible interest rate.

Remember that most loans have an entry fee that you must include in the calculation. Nevertheless, it is often money to save on collecting the debt in one loan. Many can save thousands of dollars during the repayment period.

After receiving offers from the bank, you can set up a simple calculation to see just how much you can save.

Examples of refinancing of credit cards and small loans

Here are some examples of how much you can save. In the examples, interest rates on credit cards and small loans are 20% nominal. If you have higher interest rates than this, you can save more, and less on the opposite case. Invoice fee / termination fee for all loans and credits is NOK 30. Outstanding is 10,000 per credit card and small loan. Example interest on refinancing is 13% nominal and same invoice / termination fee. The establishment fee for the examples is SEK 500 and is included in the loan sum and thus in the monthly amount. The repayment period does not change and is still 3, 2 and 1 year.

3 credit cards and 3 small loans paid down over 3 years

Total monthly amount before refinancing: NOK 2,412. After refinancing: NOK 2,068.

Savings: SEK 344 / month and a total of SEK 12,384.

2 credit cards and 2 small loans paid down over 2 years

Total monthly amount before refinancing: NOK 2,156. After refinancing: NOK 1,955.

Savings: SEK 201 / month and a total of SEK 4,824.

1 credit card and 1 small loan paid down over 1 year

Total monthly amount before refinancing: NOK 1,912. After refinancing: NOK 1,860.

Savings: SEK 52 / month and a total of SEK 624.

The calculations are done with our loan calculator.

Did you know?

About 30% of all consumer loans in Norway are used as refinancing loans to collect debt such as small loans and credit cards and to save money over time. Read more about what consumer loans are used for.

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