Consolidation Home Loans

How Does It Work?

Simple View of Consolidation

Current Loans

  • $20k Car Loan
  • $8k Credit Card
  • $500k Home Loan

Consolidation Process

Extra Repayment Calculator

By consolidating your loans you will see the savings on interest saved. Use the Extra Repayments Calculator to view the savings, on interest over the term (Years) of the loan.

Complete the fields in the calculator and add an affordable amount you can contribute each month in the Additional Repayment field in the calculator to be amazed on the savings by just contribution a small amount of money each month will save you thousands of dollars over the life of the loan.

What Does Debt Consolidation Mean?

Debt consolidation means, to combine, all of the unsecured (i.e. credit cards, personal loans) and secured (Home Loan, Car Loans) credit amounts that you pay each month into just one loan or a split loan. By consolidate into one loan, or 2 loans if part of the debt is relating to business loans, you are effectively reducing your interest rates and increasing the amount of money available to you at the end of the week, fortnight and month as you derive your income.

Eventually, over time you’ll find you are on top of your loan repayments and paid all your expenses for the week or month, any available extra money (funds) can be credited into the loan to reduce the term (years) off the loan.

For example, if you consolidated a personal loan of 7 years into your consolidation home loan of 30 years, when able you would want to pay the equivalent personal loan amount repayment into the consolidation loan to minimise the term (years).

Additionally, consolidating your loans can help you from falling into the debt trap and being in a bad money situation of damaging your Credit File and Credit Rating or having to declare bankruptcy. Unfortunately, if this has happened we will need to talk with you about a Credit Impaired loan facility. Follow the link to find out more on this type of finance product.

The Consolidation & Refinancing Of Debt

Debt Consolidation can reduce interest costs and bank fees and most importantly the stress that comes with juggling a number of loans and credit repayments.

Juggling many credit repayments is tricky business for most of us and before you realise it, you’re in over our head and we usually don’t see a way out. Once you miss one or two loan repayments they just keep mounding up and up, and the stress starts to consume you, however, don’t despair, there is always a way out, even if you feel you are not likely to pay off all of the credit debt that you have in your name, you always have a solution to fall back on. Many consumers who are overwhelmed by their debt are turning to debt consolidation for help.

Crunch some numbers

Loan Calculators