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Debt Consolidation

We no longer provide mortgage services directly, however we do provide a service which can link you to a mortgage broker in your area.

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Debt consolidation is the strategy of combining a number of smaller debts into one large debt. Often this involves increasing your home loan to pay out smaller debts such as car loans, credit cards and store cards.

The theory is that your home loan will have a much lower rate than your other debts, so rolling them all into your home loan will result in lower interest and will therefore save you money.

What many people fail to realise is that while the interest rate may be lower, you are now paying your smaller debts over 30 years instead of just a few years, meaning that in the long term you may be paying thousands of dollars in extra interest because of a poorly executed strategy.

At Equita, we can assist you with debt consolidation, however we will take the time to plan out a proper debt consolidation and reduction strategy that will help you to become debt-free sooner.

Because our mortgage broker is also a qualified financial planner, he is better able to guide you towards financial freedom, as opposed to some other mortgage brokers who will simply process your debt consolidation without taking into account the pitfalls that can come with such a strategy.

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General Advice Warning: The information contained within this website is general in nature and does not take into account your personal needs and objectives. You should not act upon any information without first seeking professional advice. Equita Financial Services Pty Ltd is no longer an authorised representative of an AFSL, and is therefore not licensed to provide financial advice. Please read the terms and conditions of use for this website.
Are you a tradie looking for income protection or life insurance for tradesmen? Check out Tradesman Insurance for the right advice. For medical professionals we recommend life insurance for doctors. Insurance consulting services are supplied to Equita by AMAUS.
Equita Financial no longer provides financial advice on risk insurance, superannuation or investment. Our website provides information on life insurance, total & permanent disability (TPD insurance), trauma insurance, income protection and funeral insurance. Our website also contains information on superannuation, retirement planning and investment, including managed funds and margin lending. The information is general and should not be seen as advice. You should not act upon any information on this website without first seeking advice from a qualified and licensed professional.