Debt Consolidation
Managing multiple debts can make your finances harder to understand. In some circumstances, consolidating eligible debts may simplify repayments, but it is important to consider the overall cost and loan term.
About this service
Finance guidance built around your circumstances.
Where appropriate and subject to lender assessment, refinancing may allow eligible debts to be consolidated into a home loan. We can help you understand the potential lending options and considerations.
Every borrowing situation is different. Your income, financial position, goals, property and the lender's assessment criteria can all affect the options available to you.
Our role is to help you understand the finance process, discuss your requirements and explore lending options that may be suitable for your circumstances.
Who this may be for
This service may be relevant to customers in situations such as:
- Homeowners with multiple eligible debts.
- Borrowers considering refinancing.
- Customers looking to review their current debt structure.
- Borrowers who want to understand potential debt consolidation options.
How we can help
Depending on your circumstances, we can help you understand areas such as:
- Reviewing your existing lending position.
- Identifying eligible debts that may potentially be consolidated.
- Exploring refinancing options.
- Discussing repayment structures.
- Understanding potential costs and considerations.
- Supporting the refinancing application process.
Things to consider
Your circumstances matter.
When assessing a lending option, there are several factors that may need to be considered. The exact requirements depend on the lender and your individual circumstances.
Current debt balances.
Interest rates and repayment amounts.
Remaining loan terms.
Potential refinancing costs.
The proposed new loan term.
Your overall financial position.
Why work with us
A simpler way to approach your finance.
Understand your existing debt position.
Explore potential consolidation options.
Review your repayment structure.
Understand the costs and considerations involved.
Our process
From conversation to next steps.
The exact process can vary depending on your circumstances, lender and finance requirements. Generally, the journey can look like this.
Review your debts
We discuss your current loans, credit facilities and other eligible debts.
Understand your position
We review relevant income, expenses, assets and liabilities.
Explore options
We explore refinancing and consolidation options that may be available.
Consider the overall cost
We discuss the proposed loan structure, fees and longer-term considerations.
Submit the application
If you decide to proceed, the relevant refinancing application is prepared and submitted.
Complete the refinance
Subject to lender approval and completion of requirements, the refinance progresses toward settlement.
Getting prepared
Documents you may need.
The documents required will depend on your circumstances and the lender. These are examples of information that may be requested.
Current loan statements.
Credit card or personal loan statements.
Identification documents.
Income evidence.
Bank statements.
Property and existing mortgage information.
Frequently asked questions
Questions about debt consolidation?
Does debt consolidation reduce my debt?+
Debt consolidation does not automatically reduce the amount you owe. It may restructure eligible debts into another loan, potentially changing repayments, interest and the loan term.
Can I consolidate credit card debt into my home loan?+
Depending on your circumstances and the lender's criteria, eligible credit card debt may potentially be consolidated through a refinance.
Is debt consolidation always a good option?+
Not necessarily. The overall interest cost, fees, loan term and repayment structure should be considered before deciding whether consolidation is suitable.
Let's talk
Ready to talk about your finance goals?
Start with a conversation about your goals and circumstances. We'll help you understand the next steps and the lending options that may be available to you.
Debt consolidation may change your loan term, repayment structure and total interest cost. You should consider the overall financial implications before proceeding. Lending is subject to lender criteria, assessment and approval.