Personal debt consolidating mortgage
That means repayments are calculated so that at the end of the loan period your debt is cleared.
By combining multiple debts into one easy to manage personal loan you can potentially: Read more about our personal loans.
By consolidating your debts into a home equity loan or line of credit, you'll have the convenience of one consolidated payment rather than having several bills from different creditors.
This makes bill payments more manageable and the rate is usually lower, helping you pay off your debts sooner.
That way you can easily budget with a structured payment plan and an assured pay-off date.
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However, if you're a homeowner, you have additional options to help you manage your debt, including a debt consolidation mortgage and home equity loan or line of credit.
This is generally the best option for consolidating credit card debt.
By transferring multiple balances from non-Westpac credit cards or store cards into one low rate credit card you can potentially: This option requires good discipline as there is no set repayment amount.
Remain focused by putting a plan in place to pay off the entire balance during the interest free period.
You should also consider cutting up your old credit cards so you don’t end up in more debt.