If you are struggling to make repayments on high interest debts such as credit cards and hire purchases loans then debt consolidation may help. It can reduce your monthly finance repayments, save you money on fees and charges and take control of your debt by consolidating your existing loans into a new lower interest rate loan.
Benefits of debt consolidation:
Save on fees and charges
Reduce your monthly repayments
Control your finances and pay off your loans sooner
With our access to a wide range of banks and lenders we can explore this option on your behalf.
John and Jane both work full time with average incomes of $65,000 and $60,000 respectively. They have 2 children and purchased their home 4 years ago for $380,000, but it is now worth $450,000. Currently, John and Jane are paying off the following debts:
Total Debt $336,000 Current Total Monthly Repayments $2,662 New Total Monthly Repayments: $2,014
Here’s how… John and Jane refinanced and consolidated their debt into a $336,000 two year fixed rate home loan at 6.00% p.a. over 30 years. Their new total monthly repayments are now $2,014 - saving them $648 a month.