Debt Consolidation

Debt Consolidation Loans Melbourne

Multiple debts, multiple repayments, multiple interest rates — consolidating may simplify your finances and could reduce what you pay each month. Subject to your circumstances and lender approval.

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Why Consolidate

6 Reasons to Consider Debt Consolidation

Debt consolidation isn't right for everyone — but for the right situation, it may offer real benefits.

01
Simplify repayments
Replace multiple repayment dates, amounts, and accounts with a single monthly repayment. Less to track, less to forget.
02
Potentially lower rate
Credit cards and personal loans often carry rates well above home loan rates. Consolidating may reduce your overall interest rate, subject to eligibility.
03
Improve cash flow
Lower monthly repayments could free up cash for savings, investments, or everyday expenses — subject to your loan terms.
04
Reduce financial stress
Managing several creditors and due dates is stressful. One loan, one lender, one statement can make a meaningful difference.
05
Use your home equity
If you own property, you may be able to leverage existing equity to consolidate at a competitive rate, subject to lender assessment.
06
Structured path forward
A consolidated loan gives you a clear timeline and end date — something revolving credit card debt often doesn't provide.
Eligibility

Who May Be Eligible

Debt consolidation suitability depends on your individual circumstances. The following factors are typically considered:

  • You own property with usable equity
  • You have multiple debts (credit cards, personal loans, car finance)
  • Your current debts carry higher interest rates than home loan rates
  • You have stable income and ability to service the consolidated loan
  • Your credit history meets lender requirements
  • The total debt amount is proportionate to your property value

Find Out If It's Right for You

Book a free 20-minute call. We'll review your current debts, property equity, and income to give you a clear picture of your options.

Book Free Call
Subject to lender assessment. General advice only.
How It Works

4 Steps to Consolidate Your Debt

01
Free Strategy Call
We review your existing debts, property value, and income to assess whether consolidation may suit your situation.
02
Lender Research
We identify lenders whose criteria align with your profile and present suitable options with clear comparisons.
03
Application
We manage the full application process — paperwork, lender communication, and keeping you informed throughout.
04
Settlement
Your existing debts are paid out, your new consolidated loan begins, and you move forward with one simple repayment.
FAQ

Common Questions

What is debt consolidation?
Debt consolidation involves combining multiple debts into a single loan, typically at a lower interest rate. This may simplify repayments and could reduce total interest paid, subject to your circumstances.
Can I consolidate debt into my home loan?
If you own property with sufficient equity, you may be able to refinance and consolidate other debts into your home loan. This is subject to lender assessment and your individual circumstances.
Will debt consolidation save me money?
It may, depending on your current interest rates and loan terms. Combining high-interest debts into a lower-rate loan could reduce monthly repayments, though extending loan terms may increase total interest over time.
Does debt consolidation affect my credit score?
Applying for a new loan involves a credit enquiry which may temporarily affect your score. Consistently making repayments on a consolidated loan can have a positive effect over time.
How much equity do I need?
Requirements vary by lender. Generally, lenders require you to retain a minimum level of equity after consolidation. We assess your situation and identify lenders whose criteria you may meet.
How do I get started?
Book a free call with us. We'll review your current debts, property equity, and income to identify whether consolidation may be suitable for your situation.

One Loan. One Repayment. One Call.

Find out whether debt consolidation may suit your situation. Free strategy call, no obligation.

Book Free Call
Subject to lender assessment and eligibility. General advice only.