Debt consolidation
Consolidating high-interest debt into your home loan can significantly reduce your monthly repayments and total interest paid.
What is debt consolidation?
Rolling multiple debts (credit cards, personal loans, car loans) into your home loan to benefit from the lower home loan interest rate.
Potential savings
Credit card rates of 18–22% vs home loan rates of 5–7% represent significant savings. WeBroke calculates your exact benefit.
Important considerations
Extending short-term debt over a 25–30 year mortgage term can increase total interest paid. WeBroke structures consolidation to maximise benefit.
Equity requirements
You need sufficient equity in your property to consolidate debt. Typically you need at least 20% equity after consolidation.
Credit card limit reduction
After consolidation, we strongly recommend reducing credit card limits to prevent re-accumulation of debt.
Refinance and consolidate
Many clients consolidate debt while refinancing to a better rate — achieving both a lower rate and simplified finances in one transaction.
Need expert advice on debt consolidation?
WeBroke's specialist brokers will assess your situation and recommend the best loan structure for your needs.
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