A loan with a longer term may have a lower monthly payment, but it can also significantly increase how much you pay over the life of the loan.View the Total Cost of Borrowing Before you apply, we encourage you to carefully consider whether consolidating your existing debt is the right choice for you.If you’ve got lots of different debts and you’re struggling to keep up with repayments, you can merge them together into one loan to lower your monthly payments.
When done correctly, debt consolidation can: There are several ways to consolidate debt, depending on how much you owe.
The best way to consolidate credit card debt under $3,000 could be to get a zero-percent interest credit card and transfer balances from high-interest credit cards over to it.
If you’re interested in the savings you might make through consolidating your debt, a qualified mortgage broker is well placed to help you to explore your options.
Call 13 19 20 to speak to an i Select broker today or get started by completing our online needs analysis.
This can be a popular choice for those trying to pay off personal loans, car loans or credit card debt on top of their home loan.