Refinance or debt consolidation: what’s the difference?
Refinancing is the process of replacing your current loan with one that gives you a better rate or better conditions.
Refinancing can cover a better interest rate, an adjusted length of the loan and even payments in instalments that suit your lifestyle better.
Start with a loan health check to see whether your current loan is the best deal you can get. It’s quick, it’s free and we can do it now.
Debt consolidation is taking a number of loans such as a home loan, car loan and credit card, and bringing them together under one new loan. It’s about having a single interest rate and a single payment each month. This can be a great option if you’re looking to simplify your finances and see your financial health at a glance.
Talk to our experienced brokers on the best option for your finances, because sometimes it’s not the option you think it’s going to be. Our brokers can decipher the pros and cons so you can make an informed choice about what each option will mean for your lifestyle and your bottom line.