Home loans are not all the same. Some borrowers have home loans at 5.59%pa and others at 3.69%pa or lower. The home loan interest rate depends on the deal you were able to negotiate with your lender when you set up your loan. In addition to this, many lenders like to offer a Line of Credit facility on the premise that it will give you better flexibility. In reality these Lines of Credit rarely get paid down as they are meant to attract a higher interest rate than your main home loan. Consolidating these two loans into one simple, cheaper and easier to manage loan can be a big step forward towards paying off your loans sooner. It’s not hard to if you have a really strong understanding of the whole market and all the opportunities available to you. Otherwise you might end up with a less than perfect outcome. That is why a it’s important to work with funding specialists that have experience in home loan debt consolidation.
Not all home loans are the same and can vary greatly in their interest, fees and charges
Having redrawn and offset facilities can help you pay off your loan sooner
Multiple monthly repayments can be consolidated into one simple payment
No need to disrupt or change your daily transactional account
If the following sounds like you, then we can help.
If you have a home loan that is more than 12 months old, it’s worth exploring the market. Home loan interest rates have moved, the property market has moved, and your options may well have changed. Whether your mortgage is large or small, there are new finance options constantly emerging in the market that may be available to you. Often as a consumer you only see the “Big Four Banks”. Often these banks are more expensive than second tier lenders that have lower operating costs and can better service specialist clients. Taking the time to learn about the options available from these lenders could save you thousands on your home loan throguh debt consolidation. Negotiating the best deal will then come down to experience in banking negotiations and professional contacts.
You have a home loan that is more than 12 months old
You are managing multiple debts
Reducing money on your debt repayments would relieve financial stress
You want to consolidate debts to put you in a better financial position long term