Debt consolidation | Mortgage Broker St Marys, Werrington & Penrith
Are you finding it hard to juggle multiple debts? Debt consolidation can be a clever way to save money on interest while also making your life a bit easier. As your local St Marys Mortgage Broker, I'll talk you through the benefits and how it could better your own unique financial situation.
Why debt consolidation?
Let's say you took out a car loan to buy your first car, then a personal loan to take a big holiday after uni. A few years later you find yourself with some credit card debt. Suddenly, you find yourself juggling three different debts, with differing interest rates and late fees.
Debt consolidation is the process of merging your existing smaller debts (like a car loan, personal loan or credit card debt) into a new personal loan or your existing home loan. Smaller debts tend to have much higher interest rates, so consolidating your smaller debts into one larger loan gives you access to lower interest rates and valuable features. It also can make the debt more manageable, with one single payment per month.
There can be downsides
A key downside of debt consolidation is that you could possibly turn what was meant to be a short term debt, into a longer term debt. That means, if you're paying for a far longer period of time, you could end up paying more in interest over the life of the loan. It's important when consolidating your debt that you also have a plan in place to get the debts paid off once and for all. I can help you put together a payment plan to get you there.
Here's how I can help:
- I provide personalised advice: Every situation is different! I'll take a look at your existing debts and see if consolidating them into a new personal loan or your home loan will save you money.
- I do all the research: A vital part of debt consolidation is finding a personal loan that gives you a great outcome, or refinancing your home loan to include the new amount. I have access to over 35 lenders, so I've got the range we need to find the right solution.
- I negotiate on your behalf: I'll negotiate a great deal on your new loan with the lender. As part of an expansive network of Mortgage Brokers, I've got existing relationships with the lenders which can help me negotiate more effectively.
- I do all the running around: As your Mortgage Choice Broker, it's my job to get all the paperwork ready for your application. I do all the running around for your new loan so you can start planning your new budget and payments.
Advice from an expert
Hi, I'm Fazlul - your local home loan expert in St Marys and Werrington. I provide my clients with valuable, up-to-date advice on their debt consolidation options so they can make a confident decision. I'm here to support you and make a plan for your next financial goal.
Find out more about Fazlul
I'm here to help with debt consolidation
I'm a passionate St Marys Mortgage Broker who would love to take the pressure off your finances by exploring debt consolidation. Based in St Marys, I service surrounding areas like Penrith and Werrington and across Sydney.
We can meet in-person or by phone/video at a time that suits you best. I am proud to serve my clients in both English and Bengali.
Get in touch with Fazlul Karim at Mortgage Choice on 0469 650 087 or click the button below to request a call back.
Call: 0469 650 087 Request a call
