Debt Consolidation | Mortgage Brokers Townsville, North Ward & Castle Hill
Paying off multiple debts at the same time can be challenging and complicated. Debt consolidation can help you bring all your debts together, making them cheaper and easier to manage. Let's see if consolidating your debts could help you get them paid off faster!
Taking control with debt consolidation
Let's say you have a credit card debt of $5,000, a personal loan of $7,000 and a car loan of $10,000. Each of these debts will have different interest rates and repayments, making them a lot more difficult to juggle. Not to mention, interest rates on these smaller debts can be much higher, meaning you're paying much more in interest than you need to be. There are two options to consolidate your debt:
- Roll them into your home loan: This would mean that while your home loan amount would increase, the interest you're paying on the debt would be lower.
- Merge them into a new personal loan: While this sounds counter-intuitive, having one larger personal loan instead of a few smaller ones, gives you access to lower interest rates and better features.
The benefits
- Simplify your debts with a single repayment - meaning you will have a clearer strategy to become debt free.
- Free up cash by reducing debt repayments and avoiding late fees.
- Allow you to pay it off more quickly, by giving you access to lower rates and better features.
- However, you don't want to simply extend the loan term by consolidating! The goal is to get them paid off quickly.
How I can help
If you're considering debt consolidation - we can help with personalised, proactive support. As your local Mortgage Brokers in North Ward & Castle Hill, we will review your current debts and talk you through your options for consolidation. We cover potential costs and the long term savings, should you choose to go ahead. We will research over 35+ lenders to find an option that fits your new strategy and manage the entire process. Not to mention - our loan service is free!
Your local Townsville Mortgage Broker
Hi, I'm Peter! My mission as your local Townsville Mortgage Broker is to empower you to take control of your finances and debts with effective strategies. I'll be the expert in your corner, providing proactive service and support.
Find out more about our teamLet's get going on your debt consolidation
There's nothing better than seeing our clients take charge of their finances! To make it easy, we can chat by phone or video, or we can meet in-person across Townsville including North Ward, Castle Hill, Jensen and surrounding areas.
Give us a call on 0489 998 848 or book an appointment below.
Call: 0489 998 848 Book an appointment
