Refinancing is another debt consolidation strategy worth looking at, as it gives you a chance to have one of our debt consolidation consultants provide you with a ‘home loan health check’ and a debt analysis to see if there’s a better home loan available to you. If you have some equity in your home, you may find it quicker and easier to take this approach by locking in the most competitive interest rate on the market with a refinance product that better suits your lifestyle. This can help you save a significant amount of money in the long run and of course, make life a little easier.
Difference between Variable Interest Rate & Fixed Interest Rate Debt Consolidation Loans
A variable rate loan gives you the added flexibility of making additional repayments towards your debt consolidation loan at any time (often at no extra cost). With a fixed rate loan, your repayments and the amount of interest to pay is fixed for a specific period of time, often one to seven years. Of course, we also offer split loans that give you a little of each, and control over the percentage of the loan which is fixed and that which is variable. Tell us what you’re looking for and we’ll help you to achieve it.