Debt Consolidation

Key features

Debt Consolidation is all about improving ones cash flow.

Borrowers who have multiple ongoing credit liabilities can merge all of them into 1 home loan, thereby reducing their overall monthly commitment.

Repayments on multiple credit cards, store accounts, car loans, etcetera can be quite expensive for most borrowers, however these credit facilities can be paid out and closed off by incorporating them all into 1 home loan.

Advantages

Substantially improve cash flow and create just 1 monthly liability to pay, being the home loan. Credit Cards are at far higher interest rates than a home loan, therefore actual interest rate savings are huge.

Considerations

Most loan products allow for Debt Consolidation, noting 3-6 months of recent statements need to be provided to demonstrate good conduct.

Suitable for

All types of borrowers with multiple credit liabilities wanting to streamline their debt level and improve their cash flow.

Debt Consolidation

Institution	Actual Rate	Comparison Rate *	Institution	Actual Rate	Comparison Rate *
	7.80%	7.90%		7.80%	7.87%
	7.67%	7.80%		7.80%	7.87%
	7.70%	7.91%		7.81%	7.94%
	6.99%	7.13%		7.86%	7.99%

* Comparison rates are based on a loan amount of $300,000 over a 30 year term. Comparison rate schedules are available via each lender’s website or by contacting Compare-Homeloans. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates are effective as of 11-01-2011.

All information provided is a guide only and may not be complete for your purposes. Whilst displayed rates are regularly updated, neither Compare-Homeloans nor the Providers warrants the accuracy of any information and you should confirm it with the Provider before acting on it. Except for responsibilities implied by law which cannot be excluded, neither Compare-Homeloans nor the Provider is responsible for any loss, damage, cost or expense incurred by you as a result of any error, omission, or misrepresentation in relation to the data herein.