Looking for Debt Consolidation Mortgage Refinance?
Jacaranda Finance doesn’t offer debt consolidation mortgage refinance, however, we know a guy who goes! So, we’ve partnered with the finest mortgage refinance brokers in Australia, Diversifi. So, if you’re looking for debt consolidation mortgage refinance, get in bed with the right people! And of course, if you’re searching for a personal loan, you know exactly who to turn to (us!).
If you are in debt like thousands of other Australians, then refinancing your existing mortgage or home loan may be a solution for you.
Debt Consolidation Mortgage Refinance uses the equity available in your property to repay other high-interest debts. Therefore, it may allow you to package your current monthly repayments from all your debts into one convenient repayment. As a result, this means you end up paying less each month. A mortgage refinance may be available to you even if you fit into one or more of the following categories:
- Short-term employed or not employed long enough
- Limited savings history
- Declined by another lender
- Irregular income
- Self employed
- Previously bankrupt
- Adverse credit history
- Existing loan arrears or defaults
Jacaranda understands that everybody’s personal financial situation is unique to them, so partner with Diversifi, and trust the experts to provide you with the solutions to resolve your debt. So, if you have any questions, don’t heistate to contact Diversifi.
A mortgage refinance is the process of applying for a new loan on your current property and using this new loan to pay out your current mortgage and any other debt you may have.
The benefits of mortgage refinancing may include:
- paying off your mortgage faster
- extending the length of your mortgage and thereby reducing the amount you repay each month.
- a lower interest rate or more favourable terms than your current mortgage
- consolidating your credit card and personal loan debts into your mortgage to take advantage of the lower mortgage interest rate
- drawing additional funds against your property for expenses of a personal nature
A mortgage refinance is often used to consolidate credit card and personal loan debt. This is because a mortgage loan is usually available at a substantially lower interest rate than the interest rate you pay on your credit cards or personal loans.
Therefore, ny consolidating all your debts under your mortgage you will only have to make a single repayment instead of making multiple repayments each month. In addition, you may end up paying less each month than you are currently. As a result thhis helps many people manage their finances more effectively.
So, when applying for a mortgage refinance loan make sure:
- There are no hidden fees or costs
- You are fully informed
- There is a real long term benefit to you
- Your repayments have been reduced – not increased
- You have achieved control over all your debts
Therefore, our partners at Diversifi, are committed to providing quality counsel for anyone seeking debt consolidation mortgage refinance.
Contact our partners at Diversifi today to chat with the mortgage refinancing specialists.
If you’re after something a little smaller, apply with Jacaranda Finance for small cash loans! So, just scroll up to get started.
In addition, if you’re looking to learn more about money management, head over to the MoneySmart website!
So, contact Diversifi now!
Joshua Wessels Australian Credit Representative Number 478409 an authorised Credit Representative of Diversifi Pty Ltd ABN 42 132 845 624 Australian Credit Licence 364403
Want to know more? Jacaranda has the low down on personal loan comparisons.
Small Personal Loan
Up to 20% Establishment Fee
+ monthly fee up to 4%
Jacaranda Finance does not charge an annual interest rate on SACC loans. These small amount loans incur 'fees' instead of interest. The maximum comparison rate on our loans between $300 and $2000 is 199.43%.WARNING: This 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
Loan Amount of $1,000 over 6 months repayable weekly (25 weekly repayments). $1,000 (Principal Amount) + $200 (20% Establishment Fee) + $240 (fees based on 4% per month over 25 weeks) = $1,440 total repayable in 25 weekly installments of $57.60.
Loan Amount of $1,000 over 12 months repayable weekly (50 weekly repayments). $1,000 (Principal Amount) + $200 (20% Establishment Fee) + $480 (fees based on 4% per month over 50 weeks) = $1,680 total repayable in 50 weekly installments of $33.60.
Medium Personal Loan
Annual Percentage Rate (APR) starts at 20.56%
Comparison Rate is 20.56% per annum.
This comparison rate is based on a medium amount credit contract of $2,500 repaid over 2 years with a $400 establishment fee and APR of 20.56%.WARNING: This 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
Loan Amount of $3,000 over 18 months repayable weekly (78 weekly repayments). $3,000 (Principle Amount) + $400 (Establishment Fee) + $555.83 (reducing interest*) = $3955.83 total repayable over 18 months with weekly installments of $50.71.
Loan Amount of $4,500 over 24 months repayable weekly (104 weekly repayments). $4,500 (Principle Amount) + $400 (Establishment Fee) + $1081.85 (reducing interest*) = $5981.85 total repayable over 24 months with weekly installments of $57.51
Large Personal Loan
Annual Percentage Rate (APR) is 12%
Comparison rate is 19.88% per annum.
Loan Amount of $5,000 over 18 months repayable weekly (78 weekly repayments). $5,000 (Principle Amount) + $1831.16 (Interest) = $6831.16 total repayable over 18 months with weekly installments of $87.57.
Loan Amount of $10,000 over 24 months repayable weekly (104 weekly repayments). $10,000 (Principle Amount) + $5041.72 (Interest) = $15041.72 total repayable over 24 months with weekly installments of $144.63.