DEBT REDUCTION SOLUTIONS

Residential Mortgages

One of the most exciting things that you will do in your lifetime, is to purchase your own home. The different types of mortgages, fixed or variable rates and all that is involved can be confusing to the first-time buyer. If you’ve applied for a mortgage, or already have one, and would like to know if you are getting the best deal out there, call us. We will review your mortgage situation and give you our honest opinion. Our specialists will walk you through the entire process step by step and explain it all to you. Our goal is to understand your needs and your goals so that you get the mortgage options that are right for you…ones that will meet your needs, and make your dreams a reality.

Commercial Mortgages

As with residential mortgages there are many different types of commercial mortgages as well. We can help you choose the best solution for your business. Below are a few different types of commercial mortgages.

Fixed Rate loan

• Offers a safe and constant cost of borrowing.
  

Adjustable Rate

• Finance your commercial property with this type of loan for a low current rate.

Long Term

• Finance your commercial property with this loan, if you don't want to renew or refinance your mortgage too often.

These are just a few options when financing your business. We can help you decide which of these, or other options meet your needs.

Motor Vehicle & Equipment

If you’ve been car shopping lately you know how many options are there for today’s consumer. Should you buy – or lease? There are different interest rates on a purchase loan than on a lease deal. You credit score will also come into play when buying a car.
The higher your credit score, the less interest you will pay on your loan. If you have questions about purchasing a car or other equipment such as a tractor or ATV, let our friendly staff help you decide on the best financing option for you.

Debtor Finance

Debtor finance is a generic description of a funding service, based on the value of a business' accounts receivable ledger. Debtor finance is also marketed as trade, cash flow finance, asset finance, invoice finance and working capital finance. Most businesses have to offer credit terms, usually of 30 days, in order to secure orders from other businesses. Current statistics show that these invoices can take up to 60 days to be paid. This delay cuts off essential cash flow and restricts the growth of the business.

Debtor finance products, by whatever name, generally fall into two categories:

• Confidential: the customer is unaware of the funding being provided, usually called 'invoice discounting'.
• Disclosed: traditionally referred to as 'factoring', where invoices have a notice that warns the customer to pay the funds to the financier in settlement of the debt.

Most businesses that provide goods or services to other businesses on credit can qualify for debtor finance. Debtor finance is more difficult to place for contractors involved in the building industry, but there are some specialized providers that are comfortable with contract issues.

Consolidation and Debt Mediation

There are a number of ways to consolidate debts. The purpose of consolidation is to replace many separate monthly payments into one. There are a couple of ways to do this. If your credit is still good, you may be able to consolidate all your bills and credit card debt into an unsecured personal loan with lower interest rates than you were paying previously. Or you can get a secured loan – where you would need to provide collateral, such as your home. This is providing you have equity available…meaning you owe less on your home than it is worth.

If you have minimal equity in a property and you are really struggling with your debts and can't see a way out, then a Debt Agreement may be an option for you. This is a formal arrangement with your creditors, normally made through a company that specializes in debt mediation. We can help you decide if this option is right for you. Often debt mediation can help you avoid bankruptcy, and although it will show on your credit report, it is preferable to a bankruptcy showing.

Development (or Project) Funding

Companies who wish to engage in development of land, property, research etc. would require what is known as development funding. Much of the time, a Government’s
Research, technology or innovation department can provide this type of funding through an application process.