Juggling multiple debts is expensive in interest and exhausting in life-admin. Consolidating into your home loan (or a single new loan) at a much lower rate can dramatically cut your monthly outgoings and simplify everything into one payment. The honest caveat most lenders won't mention: stretching a 5-year car loan across a 30-year mortgage can cost more in total interest, even at a lower rate. The fix is structure — we consolidate for a lower rate and set the repayments or a loan split so the consolidated portion is still cleared fast. Lower payments and less total interest, not one at the expense of the other.
Common Challenges
What's Included
Our Process
Why Choose Wiseman Financial?
Frequently asked questions
Is it a good idea to consolidate debt into my mortgage?
Often — moving 20% credit card debt to a ~6% home loan rate is powerful. The catch is term: repaying it over 30 years can cost more overall. We structure repayments so the consolidated slice clears in 3–5 years, capturing the rate saving without the term trap.
Will debt consolidation hurt my credit score?
Done properly it usually helps within months: fewer accounts, lower utilisation, on-time payments. The application itself is a single enquiry.
Can I consolidate if I'm behind on payments?
Yes — specialist lenders consider arrears and recent stress, particularly where consolidation clearly improves your position. Acting early gives far more options than waiting.
How much could I free up each month?
It depends on your debts, but consolidating $40,000 of cards and personal loans commonly frees up $600–$1,000+ per month in reduced minimum repayments. We'll model your exact figures free.
Should I close my credit cards afterwards?
Generally reduce limits drastically or close all but one modest card. Lenders assess card limits (not balances) against your borrowing power, and open limits invite the cycle to restart.