Who it is for
This loan may suit:
- Borrowers juggling multiple repayments across different lenders
- Homeowners who can consolidate debt into their home loan at a lower rate
- Borrowers whose monthly repayments have become unmanageable
Debt Consolidation
Turn multiple debts into one repayment.
Check whether combining debts will reduce the cost or make repayments easier to manage.
Process
What happens next
- 1List every debt
- 2Model both scenarios
- 3Find the right structure
Questions about debt consolidation
Will debt consolidation save me money?
It depends. Consolidation usually lowers your monthly repayment, but if the term is extended you may pay more in total interest. We model both scenarios so you can see the real impact.
Can I consolidate credit card debt into my home loan?
If you have equity in your home, yes. This gives you a much lower rate but extends the repayment period. We'll show you the trade-off.
What happens to my credit cards after consolidation?
You'll need to decide whether to close them or keep them. If you keep them, it's important not to run up new balances on top of the consolidation.