Refinancing large debts or high loans can be a challenge, fortunately there are opportunities to refinance larger loans and a lot of debt into one new refinancing loan.
In Norway, some banks offer refinancing to people with large loans and large debts, from USD 500,000 to USD 10 million. Also if you have to have a payment note or debt collection from before.
In order to be able to refinance large or large debt, you must either have a high income and no payment notes. Or you must own a home / property that has sufficient capital so that it can be pledged as collateral in a new refinancing loan.
Large debt with a note of payment or debt collection
Although you may have registered notes or ongoing debt collection cases right now, there are opportunities to refinance the debt into a new loan that fits better with the current financial situation.
With a so-called restart loan, you can refinance both small and large debt with collateral in your own home or property.
If you do not have sufficient capital in the home before, then some banks can arrange for loans if you can provide additional security.
Refinance from 500,000 to 10,000,000
For people with a lot of debt (from USD 500,000 and upwards), there are some Norwegian players who can help you with the refinancing.
One of the Norwegian players helping with such an application is the Astro Finance. This company cooperates with a number of Norwegian banks and takes care of the whole heavy process free of charge for you.
The company specializes in customers with larger credit debts of more than USD 500,000, and helps customers who have notes get rid of the payment notes by refinancing the mortgage.
Interest examples of refinancing of consumer loans with a mortgage on a home
Average interest rate: Effective interest rate 6.79% v2mill o / 25years, cost USD 1,895,969, tot 3,895,969.
Lite Lender Bank is a Norwegian bank that also offers refinancing of high debt
Another bank that also offers refinancing of large loans and debt is Lite Lender Bank ASA. This is an Oslo-based bank that operates only as an online bank and, in addition to regular banking functions, also specializes in offering refinancing of mortgages to people with high debt and any payment notes.
This loan is safe in own housing for high debt refinancing, Lite Lender Bank seeks to collect as much of the debt as possible into one new loan and thus help people gain control of their finances.
Example interest rate: Effective interest rate 7.25%, loan of 2 million over 25 years, cost USD 2,466,934, totaling USD 4,466,934
If you have less outstanding loans than USD 500,000, there are several other options for refinancing debt. Both with and without security, and with or without payment notes.