Combining Your Debts Into Your Home Loan
Managing your home loan repayments at the same time as juggling separate credit card debts, personal loans or other financial loan commitments or other can be a real challenge.
Often it's the case that you could be on higher interest rates as well as having to make higher repayments than necessary for those 'non-home loan' facilities, which can put you under pressure when managing the household budget.
By combining your personal debts together with your home loan you could:
- reduce the required repayment amount, as a home loan term is typically longer than a personal loan
- reduce the applicable interest rate, by combining all debts under your home loan facility
- improving your cashflow by again reducing the minimum required loan repayment, given a home loan term is typically over a 30 year period
