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Could your debts be costing you more than they need to?
With the cost of living putting more pressure on household budgets, credit cards, personal loans and car loans can quickly add up. As a Brisbane mortgage broker with 25 years’ experience in credit and debt management, I can help you explore whether refinancing and consolidating those debts into your mortgage could reduce your monthly repayments.
25 years working with debt.
Now I use that experience to help you get ahead of it.
Fewer repayments to manage
Bring multiple debts together and simplify what you’re managing each month.
See the real numbers
I’ll compare the immediate repayment difference with the longer-term cost so you can make an informed decision.
More breathing room in your budget
Reducing your total monthly repayments could free up money for everyday living costs.
A strategy, not just a lower repayment
We’ll look at your overall position and structure the refinance around what you’re trying to achieve, not simply roll everything into your mortgage.
Real client. Real numbers.
One of my clients came to me with a home loan plus multiple credit cards and personal loans. By refinancing and consolidating those debts into their home loan, we reduced their total monthly repayments by $2,527.
Before
BEFORE REFINANCING:
Total monthly repayments
$6,932
Home loan + unsecured debts
After
AFTER REFINANCING:
New monthly repayment
$4,405
Mortgage with debts consolidated
$2,527 less going out each month
That’s $30,324 a year less going towards repayments.
This is a real client example, but everyone’s circumstances are different. Lower monthly repayments don’t necessarily mean a lower total cost. Consolidating shorter-term debts into a home loan can increase the total interest paid over time. I’ll compare both the immediate repayment difference and the longer-term cost before you decide whether it makes sense for you.
Could debt consolidation work for you?
Debt consolidation may be worth exploring if you own a home and are juggling several debts or repayments each month.
Credit cards
High-interest balances or multiple cards with repayments coming out each month.
Personal & car loans
Several loan repayments that are putting pressure on your monthly budget.
Buy now, pay later & other debts
Multiple smaller debts that have gradually built up and become harder to manage.
You’ll generally need sufficient equity in your property and enough borrowing capacity to refinance. I’ll work through that with you and tell you upfront whether consolidation looks like a sensible option.