04 Apr Understanding Debt Consolidation
In this recent video, Martin discusses debt consolidation. Commonly, customers might want to move their accumulated debt from credit cards, car loans, personal loans etc. into a single loan. This is often achieved by leveraging the equity in a mortgage. But the key is understanding how debt consolidation works and what this means for your financial future.
Although debt consolidation would reduce your number of financial commitments and lower your repayment amount, this may secure you a loan term of up to 30 years instead of 5 or 10. This means your monthly expenses will be less, but you might be paying quite a lot more over the long term.
Join the many Australian’s who now prefer to use a Mortgage Broker than directly visiting a bank by scheduling a FREE Consultation. One of our loan specialists can help you find the right solution for your needs and finance goals.