If you are struggling with debt, then refinancing your home loan or mortgage may be a good solution for you.
Home loan refinancing is often used to consolidate both credit card and personal loan debt as well as money owed to the ATO. This is because home loan interest rates are usually lower than what you pay on your credit cards or personal loans.
By consolidating all your debts into your mortgage you will only have to make a single repayment instead of making multiple repayments each month. This usually results in paying less each month than what you are currently paying and helps many people manage their finances more effectively.
If you also have debts owing to the ATO we can also look at negotiating a reduced lump sum amount and consolidate this into your new home loan potentially saving you thousands.
Debt Solve Australia have been able to arrange home loan refinancing when most Banks have said No so even if you fit into one or more of the following categories we can most probably help:
- Short-term employed or not employed long enough
- Irregular income
- Government Allowance including New Start
- Previously Bankrupt
- Declined by another lender
- Adverse credit history
- Existing loan arrears or defaults
- Limited savings history
Call us today to discuss if Home Loan Refinancing works for you.
Benefits of refinancing
There are many benefits of refinancing and these include
- Paying off your loan faster
- Extending the length of your mortgage and thereby reducing the amount you repay each month.
- A lower interest rate or more favorable terms than your current loan.
- Consolidating your credit card and personal loan debts into your home loan to take advantage of the lower interest rate.
- Drawing additional funds against your property for expenses of a personal nature.
When applying for a refinance with Debt Solve Australia we ensure:
- You are fully informed.
- Your repayments have been reduced – not increased.
- There are no hidden fees or costs.
- All debts are consolidated
- There is a real long term benefit to you.
Call us today for help.