Sambla represents more than 20 potential lenders.
One application with Sambla is equivalent to submitting over 20 applications to different banks and lenders offering debt refinancing.
This means you receive multiple responses, increasing your chances of finding a refinancing loan with better terms as you will receive several offers to choose from.
- Submitting the application is simple. You simply fill out the form on this page by provide basic information about your age, marital status, and income.
- Once your application is registered, we send it to our 20+ partners for evaluation. You will receive the offer via SMS or email.
- You can review all refinancing offers at your own pace, and choose the one that suits you best. Accepting the offer is simple with BankID on your mobile. The chosen bank will handle the refinancing process smoothly.
- This does not cost you anything, and it is not binding in anyway. Sambla is a comparison service that wants to help you to get better control of your personal finance.
Why might refinancing be declined?
There are several reasons why you may not be approved for refinancing. Common reasons include low credit score, payment remarks, or insufficient income relative to your debt. In some cases, the requested amount may simply be too high.
By improving your financial situation and applying through a loan agent; you can increase the chances of obtaining better terms in the future.
Reasons to consider refinancing
Sambla offers refinancing up to 800,000 NOK and compares loans from over 20 banks. Refinancing can be beneficial for several reasons:
- Reduced interest costs –
Refinancing allows you to switch to a loan with a lower interest rate, potentially saving money over time. - Debt consolidation –
Combine multiple loans, credit card debts, or other obligations into a single loan. This simplifies your finances and provides a clearer overview of your debt. - Better loan terms –
You may negotiate improved loan conditions, such as longer repayment periods or lower monthly installments, suited to your financial situation. - Reduced stress and administration –
Managing one monthly payment instead of several makes finances easier to handle. - Improved credit score –
Paying off previous loans can positively impact your credit rating over time; giving you better financial options in the future. - Use of collateral –
Refinancing with assets such as a home or car may provide lower interest rates and better terms. - High debt load –
If you are struggling with high debt, refinancing can reduce the burden and provide better control over your finances.
Contact us to explore your refinancing options and access loans from over 20 banks. Our experts will guide you through the process and help you find the best offer based on your needs and financial situation.
Types of loans you can refinance and practical examples
Most types of debt can be refinanced. You just need to check if and how much you can benefit in each case. Some debt types are better suited than others.
Typical debt you can refinance includes:
- Small loans
- Credit card debt
- Car loans
- Mortgages
- Consumer loans
These can be refinanced individually, or you can apply for a larger refinancing loan to consolidate all your debts.
Credit card refinancing
It’s easy to use credit cards for everyday purchases or travel. However, if you do not pay the full balance each month; it is essentially taking out extra expensive loans. The effective interest rate on credit cards is much higher than on regular unsecured loans.
If your credit card debt has accumulated, it is wise to take action. Taking out a refinancing loan to consolidate credit card debt can be a smart financial step.
Problems with credit card debt
Credit cards themselves are not bad. They can be effective payment tools, offer discounts, and often include travel insurance. They also usually have an interest-free period from purchase to the invoice due date.
Problems arise when:
- You do not fully repay the card balance, leading to high interest costs.
- You only pay the minimum amount, causing interest to accumulate.
- Continuous use of the card keeps you in debt.
- Using another credit card to pay off existing debt which only increases debt over time.
Refinancing small loans
Small loans, such as SMS loans or microloans, often have high interest and fees. If you have multiple small loans that are difficult to repay quickly, consider an unsecured refinancing loan.
Larger loans usually have lower interest rates. It is also simpler to manage one loan instead of several with different due dates and fees. Consolidating small loans can save money and simplify your finances.
Refinancing unsecured loans
Similar principles apply to consumer loans. You cannot know if a cheaper loan is available before checking refinancing options.
In addition to potentially lower interest, you may apply for longer repayment periods. While standard unsecured loans typically have a maximum term of 5 years – refinancing loans can sometimes extend up to 15 years, lowering monthly payments.
Sambla compares multiple offers from different banks, allowing you to find the best possible terms.
Refinancing bills or overdue invoices
If you are behind on bills, fees, or interest can accumulate. A refinancing loan can help pay off these debts, restoring control over your finances.
Car loans without collateral
Consider whether your current car loan was the best deal. Check other options, including through multiple banks. Refinancing a car loan may yield better terms than the original loan.
Some also combine car loans into a mortgage refinancing package to consolidate multiple debts under one secured loan.
Mortgage refinancing
Interest rates change constantly. Monitor the market to ensure you maintain the best conditions. Your income may have increased, or your home’s value may have improved, impacting refinancing options.
It is recommended to review mortgage conditions at least once a year. Be aware of fixed-rate contracts as early repayment may involve premiums or discounts.
Refinancing with payment remarks
Debt collection and payment remarks affect credit evaluation. Refinancing may be more challenging in these cases, but it can also be most beneficial before the situation escalates. Acting early prevents additional financial stress and protects your credit rating.
Multiple lenders – better refinancing offers
When applying for any loan, especially unsecured loans, it is generally recommended to approach multiple lenders.
Interest rates and credit evaluations vary significantly. You cannot know the rate you will receive until you apply, are evaluated, and receive an offer. Applying through Sambla allows over 20 lenders to assess your application, increasing your chances of the most favorable refinancing loan.
