Refinancing to Consolidate Debt

February 27, 2017
Hayley Dunning

Often we see a lot of clients that have multiple loans outside of their home loan and are therefore making very high monthly repayments whilst trying to eliminate this debt. The best way to reduce these repayments as well as save money in the long run is to consolidate this debt into your home loan.

Whether it be a personal loan, car loan or credit cards, we can help you. 

Instead of having a car loan with a rate of 12% and a credit card with an interest rate of 18%, you can consolidate this debt into your home loan and pay a much lower rate. This can save you hundreds of dollars a month in repayments. This money could go towards your savings or you could put that extra money towards your mortgage therefore reducing the amount you pay in interest over the life of the loan and paying your mortgage off sooner. It’s win-win!

There is nothing worse in life then feeling like a slave to debt, sometimes it can be very overwhelming and quite disheartening when all your money is going towards paying off your debt and you can’t seem to get ahead. Here at Mortgage Choice we understand your frustration and would be more than happy to arrange an obligation free consultation to discuss the options available to you and find out how you could potentially save hundreds if not thousands of dollars on your loan repayments.

If you’re interested in speaking to one of our friendly brokers to discuss consolidating your debt, give us a call on 07 3211 7744 and see how we can help you. 

Posted in: Refinancing

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