Debt
Consolidation
Do you have a personal loan, credit card debt or car loan that’s costing you too much in repayments?
It is possible to consolidate your debts into your home loan to attract a cheaper interest rate and assist in making your monthly debt repayments more manageable.
While this can be a good idea, you should consider:
- are there any exit costs on your short-term loans, (these may cancel out any benefit)
- you may end up paying more for your debts having spread them over a longer period of time in your home loan.
A Matfin consultant can work with you to see whether restructuring your finances is possible and worthwhile for you and discuss ways for you to obtain the savings and possibly avoid traps.