- In Bee Savvy - Getting the most out of your loan, First things first - Steps before applying for finance, Getting ahead - How to improve your finances
If you have a property with equity, and have ended up with a little more unsecured debt than you would like, than you may wish to look to consolidate your debts into your home loan.
What Are The Benefits Of Consolidating Your Debts?
We all know that credit card debt and personal loans can have quite a high interest rate. This can be double, triple or even quadruple the interest rate paid on your home loan.
The repayments are also quite high on unsecured debt, and this can add unneeded pressure to the family budget.
Consolidating your debts can make sense, where this will assist you to get ahead. If less money is going towards interest, you may be able to pay off your debts faster.
Getting your debt consolidation right
At Bee Finance Savvy, we’ve helped many customers consolidate unsecured debts into their home loan, to help relieve some financial strain.
With our panel of over 30 different lenders, we’re able to match clients to lenders that suit their circumstances. We make sure that you have the right lender for your unique needs.
Our brokerage will do all the tricky work for you. From assessing your income and expenses the right way, to advising you of your borrowing capacity, and making sure that every step is carried out correctly – we’ve got you covered.
Other important factors that we will look for, include whether you have exceeded your credit limit in the months prior to your loan application.
Doing so can hurt your chances of approval, so it is important that we take a thorough look at all of your statements and guide you towards the best choice that will maximise your chance of approval.
If you are looking to consolidate your debts into your home loan, and want to know what your options are, our lovely broker Desiree is here to help. We can answer all your questions, with an obligation free consultation.
If you’d like to hear from just some of our satisfied customers, take a look at our reviews on WOMO https://www.wordofmouth.com.au/reviews/bee-finance-savvy-miranda