Debt Consolidation | Mortgage Broker Picnic Point & Revesby
Smaller debts carry much higher interest rates and often have late fees. Consolidating them into one loan can give you access to much lower interest rates and make your life simpler. As your local Mortgage Broker in Picnic Point and Revesby, I can talk you through your options for debt consolidation.
Rolling your debts into one loan
The benefits of having one loan to pay off usually outweighs having lots of smaller debts hanging around. It makes a repayment plan much easier to manage and can lower your total repayments. There are two ways to consolidate your debt:
- Bundle them into a personal loan: This is a popular option for debt consolidation. If you want a bit more control over your debts, one larger personal loan can be a great option. It gives you only one lender, one interest rate and one monthly repayment to manage.
- Roll them into your home loan: Refinancing your existing home loan to include your smaller debts is an effective way to clean up your finances and take advantage of lower rates, with features like an offset account to help minimise your interest. This could mean however that your smaller debts just take longer to pay off, because they are now part of a 30 year home loan.
How I can help you consolidate debt
My job as your Mortgage Broker is to advise you on how to structure your home loans and other debts effectively. I want to ensure that we minimise how much interest you pay and get your loan paid off quickly. I am passionate about debt consolidation because I know the high interest rates that smaller debts carry and have seen how much difference it can make to a household budget.
- I review all your smaller debts, and your home loan if you have one.
- I research what personal loan or home loan options would save you money in the long run.
- I present my recommendations to you, and talk you through the benefits and costs of each.
- I then do the hard work on your behalf, acting as an intermediary bewteen you and the lender, submitting your application and answering any questions they have.
- My loan service and advice come at no cost to you! The lender you choose pays a commission when your home loan settles.
Call Bassam Aboulhaf - your local Picnic Point Mortgage Broker
I believe that everyone should have debt consolidation advice that is clear, transparent and in their best interests. I can meet with you throughout Picnic Point, Revesby, Padstow and across Sydney. I am proud to be able to help my clients in both English & Arabic.
Call Bassam Aboulhaf on 0438 532 231 or request a call back below.
Call: 0438 532 231 Request a call
