Which debts can I consolidate?+
For most people, personal debts such as credit cards, store cards, personal loans, car loans, buy now, pay later and overdrafts.
I'm self-employed and have tax arrears. Can I consolidate them?+
It's harder, and each case is assessed on its merits. Main banks may not lend to clear tax debt, and lenders generally won't fund unpaid PAYE. Some non-bank lenders may consider other tax debt, such as income tax or GST, usually with good equity and a plan to move back to a bank later.
Will consolidating lower my repayments?+
Often, yes, because home loan rates are usually lower and the debt is spread over a longer term. But a longer term may mean more interest overall, unless you keep repayments up.
Can I consolidate if I have missed payments?+
Possibly. It depends on how recent and how serious they are. Some lenders may be more flexible than others, including non-bank lenders.
Do I need to switch lenders?+
Not always. Your current lender may agree to a top-up. We'll compare that with other lenders, so you can see which may leave you better off.
Should I close my credit cards afterwards?+
Usually, yes. Some lenders may require it as a condition of the loan, and it stops the debt building up again.
Do I pay for your advice?+
For home loans, usually not. In most cases the lender pays us when your loan settles. Business lending carries a fee, and we'll let you know what it is before we start.
