The most popular method to facilitate the debt burden is Debt consolidation home loans. The basic intent of the debt consolidation loan is to provide ease in repayment of existing debts. This happens by combining multiple debts into one single debt against your home as security. The borrowing is permitted at flexible repayment terms with low-interest rates. These loans not only help the borrower to manage his repayments but also provides a clear picture of his financial future. Here, in this blog, we’ve provided a complete overview of the debt consolidation home loans schemes. How does the debt consolidation home loan scheme work? As explained above, debt consolidation loan brings together all types of existing debts such as credit card debt, student debt, store card, or any other type of debt together into one new single debt. While applying for these loans, financial institutions will study your application and approve it after surveying the asset placed as collateral and consider different factors. Then they take your home as security in exchange for funds to pay off your creditors. Remember - that these debt-consolidation home loan schemes are not for free but come with a fee. The borrower will have a fixed repayment term with span durations of seven, ten, or fifteen years with different rates of interest depending upon the lender. Are looking for a home loan adviser in Sydney who can help in explaining the debt consolidation home loans in Australia? Your Finance Adviser is the perfect choice for you.
Your Finance Adviser is a leading and most reputed finance advising company in Australia that specializes in offering a broad range of financial planning services to all types of clients located across Australia. Our services include delivering a variety of home loan advice, end-to-end lending, financing and wealth management solutions. Our team of highly skilled and trained finance brokers in Sydney are experts in guiding people about the eligibility criteria and features of a variety of home loan plans - including the debt consolidation home loans.
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rAJAN KHATTAKDirector and founder of Your Finance Adviser, I have over 12 years of experience in mortgage broking. Archives
March 2022
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