There are a number of ways that you can consolidate your multiple existing debts. An option for you to consider is consolidating your debt by refinancing your home loan.
Consolidating debt by refinancing your home loan has multiple benefits, depending on your circumstances. Some reasons that you may look to do this include:
Before you decide that refinancing your home loan is the best way for you to consolidate your debts, you need to consider a number of costs that could arise during this process.
Depending on your situation, refinancing can attract a range of fees and other charges, including:
You should factor in all of these costs when calculating whether refinancing works for you.
An Aussie Mortgage Broker can meet you to discuss your personal circumstances and help you identify the costs of refinancing your home loan. There's no obligation when meeting with an Aussie Mortgage Broker and it's free.
So how do you get started with refinancing? Aussie's expert Mortgage Brokers will help you evaluate your personal situation.
There is a range of information available, both within Aussie's website and offline, which can help you if you're looking to refinance. This includes tables that compare rates and products from different lenders and a range of calculators to help determine your borrowing power and repayment amounts, including Aussie's own 1-Minute Mortgage Calculator.
When you are ready to apply, or even if you have more questions before taking the next step, you should speak to an accredited Mortgage Broker.
Aussie's expert Mortgage Brokers will help you evaluate your personal situation, compare the features of hundreds of loans from up to 19 different lenders, and even help with all of the paperwork and other parts of the refinancing process.