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What is debt consolidation?

Debt consolidation offers a range of benefits to help you get on top of multiple debts. If you’re looking to consolidate debt, use our checklist to ensure you’re reaping all the benefits debt consolidation can provide.

The 9 benefits of debt consolidation

1. Single loan
Enjoy the convenience of a single repayment
One loan = one set of fees
Dealing with one lender can help you stay on top of repayments and debt
2. Lower interest
Pay less interest when compared to the interest payable on multiple loans
Pay a potentially lower interest rate when compared to credit card debt
3. Lower monthly repayments
Consolidating debt into one loan, with one set of fees and interest, can lower your monthly repayments
Debt consolidation loans with lower interest rates can reduce what you pay
4. Flexibility
Take advantage of loans with flexible repayment periods to spread your loan over a longer period and improve cash flow
5. Clear financial planning
Budgeting is easier with one loan repayment
Confidence to stay on top of debt without having to keep track of multiple loan repayments
6. Improve credit score
Consistently making repayments on your new loan can improve your credit score
7. Get out of debt sooner
Reduced interest and lower monthly repayments can help you stay on top of repayments and get out of debt sooner
8. Savings
Lower interest and monthly repayments can equal big savings
Paying off debts sooner can save you thousands
9. Avoid hassle
Say goodbye to calls from debt collectors
Eliminate the paperwork and administration involved with multiple debts

Our expert Lending Specialists are on hand to provide you with the best solution, completely tailored to your needs. Find out your best option by Applying Online – just click below! Applying online can take as little as 15 minutes (or even less!).


Loan Details

The interest rate for the loan.
% p.a.
What is the length of time to repay the loan?
Will the loan be for yourself or joint with another applicant?



Any person who depends on you for financial support e.g. your children?

Annual Net Income

Your net income per year i.e. after tax
Your partner's net income per year i.e. after tax
Any other income you may receive each year e.g. rent from a property, interest on savings or dividends from shares

Monthly Expenses

Personal monthly expenses e.g. rent, bills, shopping, fuel etc.
Any repayments you have to make each month to cover your credit cards or other loans
Any other monthly expenses

Your Monthly Repayment

per month

You Can Borrow Up To

Important Disclaimer: This is intended as a guide only. Details of terms and conditions, interest rates, fees and charges are available upon application. Mortgage House's prevailing credit criteria apply. We recommend you seek independent legal and financial advice before proceeding with any loan. The Comparison Rate for each of the home loan products contained in this page is based on a loan of $150,000 over a 25 year term. Fees and charges may be payable.

WARNING: The comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. * This mortgage calculator shows indicative repayments based on 12/26/52 equal repayments for monthly/fortnightly/weekly options.