Debt Consolidation?  We've got you covered

Don’t let your debt spiral out of control. Debt consolidation is taking a new loan from the bank at a lower interest rate to replace your existing debts such as outstanding credit cards, hire purchases, personal loans and car loans which are at a higher interest rate.

Your current debts which were taken from private finance companies at interest rates varying between 10-25% can be paid off and replaced by taking a new loan from the bank at home loan interest rates. This is borrowed with your home acting as security, provided your current home loan is below 80% of the value of the home.

Don’t let your debt spiral out of control. Debt consolidation is taking a new loan from the bank at a lower interest rate to replace your existing debts such as outstanding credit cards, hire purchases, personal loans and car loans which are at a higher interest rate.

Your current debts which were taken from private finance companies at interest rates varying between 10-25% can be paid off and replaced by taking a new loan from the bank at home loan interest rates. This is borrowed with your home acting as security, provided your current home loan is below 80% of the value of the home.

Why do you need to consider debt consolidation?

  • Replacing your credit card and hire purchase debts with an additional loan on your home will lower the overall interest rate you pay on your debts giving you a bit more breathing room so you can use the money you save to cover other necessary expenses.
  • Budgeting can be easier as you have only one loan repayment to track rather than tracking repayment of each debt individually.
  • Having your credit card and hire purchase debts consolidated at a lower rate can free up more money which you can direct towards your home loan repayments thus paying your home loan off faster.
  • Taking this additional debt on your home loan will give you more time to repay these debts as the repayment term on home loans is longer than credit card and hire purchase loan terms.

Are you ready to kick off?

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