Debt Consolidation Loans2024-02-26T10:58:07+11:00

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Debt Consolidation Loans

Debt Consolidation Loans

Our Debt Consolidation Loans allow you to refinance your home loan to consolidate your debts and reduce monthly repayments.

The average credit card rate rate is at 20%, and the average new card interest rate is poised to soar again.  Fortunately, there are options that Australians can consider to free up cash every month and pay the debt off. We have lenders on our Panel that will look at unlimited debt consolidation to 90% LVR.

Bad Credit Debt Consolidation Loans

Our funding lines are available in both Full Doc with clean credit and also allow for debt consolidation loans with bad credit or defaults.

We can consolidate both Paid or Unpaid defaults, Judgements, Writs and late repayments with creditors or arrears on their Mortgage.

Lower repayments and monthly fees on a new mortgage

With a secured debt consolidation loan your monthly repayments will reduce.  This is a sensible way to lighten up the burden if you ’re strapped for cash.

Make use of your home equity

Home equity is the difference between the current value of your home and what’s still remaining to be paid on your home loan.

Let’s say your property is worth $500,000 and you have a mortgage of $100,000 remaining on your loan. This means you have $400,000 of equity in your property which you can use $350,000 to consolidate debt into home loan.

Potential advantages of consolidating debts into your home loan:

  • Home loans typically have a lower interest rate compared to other lending options like personal loans and credit cards.
  • Depending on your circumstances, you may be able to switch to a home loan with a lower interest rate.

Potential disadvantages in consolidating debts into your home loan:

  • Home loans have a longer loan term, which means you may pay more in interest over time.
  • Your mortgage repayments may increase, which could make it more difficult for you to make your repayments on time.  Furthermore if you decide to keep your repayments the same and increase your loan term, you could end up paying more.
  • If you can’t make your repayments, you could risk losing your home.

Maintain fiscal discipline to avoid incurring debt again.

Don’t go down the same track again always use debit cards and avoid credit cards or payday lenders

Maximum Loan Size on a Bad Credit Debt Consolidation Loan

  1. $900,000 (Syd or Melb) $750,000 (other) to 95% of Property Value
  2. $1,000,000 to 90% of Property Value
  3. $1,000,000 to 85% of Property Value
  4. $1,750,000 to 80% of Property Value
  5. $2,000,000 (Syd or Melb) $1,750,000 (other) to 75% of Property Value
  6. $2,500,000 to 70% of Property Value (Larger Loan Limits available, $2.5M to $5M case by case and subject to location)

Seek Expert and Professional Advice when applying for a Debt Consolidation Loan for Bad Credit

If you wish to obtain a Bad Credit Debt Consolidation Loan you should seek help of an experienced broker. What’s more a Non Conforming Lender will have experience in dealing with these lenders on a regular daily basis.

Important Information:

Lastly, call the National Debt Helpline on 1800 007 007 if you do not find a lending solution. Their professional financial counsellors provide free and confidential advice. The helpline is open from 9:30 am to 4:30 pm, Monday to Friday.

Equally important you can also visit the National Debt Helpline website. It has step-by-step guides explaining how to fix common debt problems.

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Call a Debt Consolidation Loans Expert

1300 791 329

We specialise in Debt Consolidation Loans. Please complete our contact Form or Phone Direct and you can discuss your situation with an expert.

If you wish to proceed, then we will help you to complete all the necessary paperwork and liaise with the lender on your behalf. This will include the completion and submission of your home loan application and the on-going communication between all parties until your home purchase is settled.

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