LHV to provide an option to combine several consumer loans into one

21. April 2021

A refinancing loan was added to the consumer loans offered by LHV, providing an option to conveniently combine the existing consumer loans and hire-purchase into one loan at LHV.

The principle of the refinancing loan offered by LHV Finance is simple – to repay the client’s existing consumer loans, for example, hire-purchase and smaller loans, to different credit institutions and consolidate them into one loan. This provides the client with a significantly better and more compact overview of their loan obligations, and also reduces the monthly obligations, and these can now be paid once a month as a single payment.

According to the Chairman of the Management Board at LHV Finance, Mari-Liis Stalde, the refinancing loan is intended for a smart person who wants to review their expenses and to better manage them. ‘The refinancing loan should not be the last lifeline for those who are overwhelmed by managing their financial obligations, but primarily for a smart client who clearly wants to control their expenses,’ Stalde says.

Stalde notes that many clients of LHV are looking forward to the product. ‘In developing the refinancing loan, we have also listened to our own clients, who are extremely satisfied with LHV’s service and have expressed a wish to link their other loan obligations to us as well. The refinancing loan provides an opportunity to combine all consumer loans into one in order to manage all financial matters with one bank,’ she explains.

This way, it is not necessary to remember the terms of all agreements and the frequency of loan payments, as well as there is no need to communicate with customer services in different places. With refinancing, several loans will become one loan with its terms being more suitable for you, the monthly obligations smaller, and the overview clearer. If you have any questions or concerns, please contact LHV’s loan support.

The process of applying for a refinancing loan is convenient and quick. The loan can be applied for up to six years and the maximum amount to be refinanced is EUR 20,000.

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LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group’s key subsidiaries are LHV Pank, LHV Varahaldus, and LHV Kindlustus. LHV employs over 560 people. LHV’s banking services are used by nearly 274,000 clients, and pension funds managed by LHV have nearly 177,000 active clients. LHV’s UK branch offers banking infrastructure to 150 international financial services companies, via which LHV’s payment services reach clients around the world.

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