Without careful management, debts can snowball and accumulate rapidly, particularly if they have high interest rates. And when they all have different due dates or different payment methods, staying on track can be a challenge. One way to simply these payments is to have your debt consolidated.
Debt consolidation is when all of your various loans are paid for by a company, who then gives you one new, single loan under different terms. We find it can offer tremendous savings if you are paying anything over 15% interest without owning a home or anything above 13% as a homeowner. Debts with very high interest rates of 20% or above benefit the most from consolidation.
What are my options for debt consolidation?
When it comes to debt consolidation with us, you have multiple options. First, we’ll check to see if we can save you any money. This depends on the current interest rate that you’re paying as well as your financial situation and assets. If you have any equity from your home you can draw on, for example, we could look at doing it as a separate loan with your bank instead of paying a finance company. Banks tend to offer much better rates—somewhere in the mid-single digits—whereas financial companies can have extremely high rates above 20%. Getting the lower interest can give you huge savings!
Your interest rate will depend on your credit score, and your application may be denied or deferred for 3 months if you have any debts that are in arrears (money that is owed and should have already been paid previously) and it’s best to get that sorted first. That way, you can maximise your chances of a successful application, as well as receive a better interest rate once accepted.
If debt consolidation can benefit you, we suggest not taking on any new debts until your consolidated loan is paid off. Feel free to ask us about debt consolidation by coming in or giving us a call. Our team is here and happy to help!Enquire
HOW IT WORKS
To get the ball rolling we ask that you fill in the following form, it is super easy to complete and 100% obligation free.
Send us the form, then we will contact you to discuss your options.
My partner and I couldn’t be more grateful for everything that Brenda & her team did for us in getting our dream home and even handling life insurance, the process couldn’t have been made any easier. What should have been a stressful time in our lives was made into an enjoyable experience.
We had a tricky case, with only one wage and my wife expecting the second baby we’re really pushing the boundaries of what we could borrow. Brenda and the team went above and beyond to twist some arms and pull some strings and managed to get us what we thought was impossible and we’re now happily living in the lovely house we wanted so much. they really did an amazing job and were extremely fun friendly and professional. highly recommend them and they will help you get over any hurdle you have.
My husband and I couldn’t recommend Brenda and her team more highly. Without her, our out of town dream wouldn’t have eventuated. Thanks again x
Brenda is absolutely amazing!
It’s just like talking to a friend! So bubbly, friendly and helpful
No need to look any further than Brenda
Brenda was fantastic and helped us with our mortgage, mortgage review and other financial advice. Highly recommend her to everyone.
Brenda and her team helped us out a few years back now and without her, we would not be where we are today. She puts in the hard yards for her clients.
For us, it not only helped with our dream home but also put our business on the map by being able to get a new build mortgage.
This woman is amazing! We would not be where are now without her! Brenda is honest and driven – highly recommend!! Love your work Brenda
Brenda is fantastic at what she does. We recommend her to anyone we know who needs a mortgage and /or insurance advice. Thanks for everything, Brenda!
Brenda is amazing! She made it so simple and easy for me to sort my finances and find my perfect home
Brenda and the team are absolutely amazing. Just a fantastic bunch of ‘normal’ people who go the extra mile. Brenda is crack up, efficient and easy to talk to. Highly recommended.
Exceptional service. Brenda and her team took all the hassle out of our original lending and have made the whole rollover process so easy. It has made all the difference having someone we can trust and rely on to help us navigate the hard stuff.
Brenda is very approachable and easy to talk to. We found her extremely helpful and would recommend her to anyone needing her services.
I honestly can not thank the team enough for all the hard work they put into helping me get my home. Never once did they complain about my constant nagging calls or unusual questions or even the quick turn around. It didnt feel like a business transaction it felt like a family member helping me out. Really cant recommend this team enough. Want the best, go with the best.