Debt Consolidation Loans | Simplify Your Finances | Finco Capital

Managing multiple high-interest debts such as credit cards, personal loans, and car loans can be both financially draining and stressful. Finco Capital’s Debt Consolidation Loans offer a strategic solution by consolidating your debts into a single, manageable loan—often with a lower overall interest rate.

As experienced mortgage brokers, we specialise in leveraging your home equity to pay off high-interest debts. This approach can reduce your monthly repayments, save you money on interest, and provide a clear, structured path to becoming debt-free faster.

How Debt Consolidation Works

Debt consolidation typically involves taking out a new loan, often via refinancing your home loan, to pay off multiple existing debts in full.

Our Process:

Assess your financial position and home equity availability
Secure a new loan or refinance your current mortgage to access funds
Use those funds to clear all other debts
Leave you with one single loan and a typically lower monthly repayment

Benefits of Debt Consolidation

Single Payment: Simplify your finances with one manageable monthly repayment.
Lower Interest Rates: Replace high-rate debts with a more favourable home loan interest rate.
Reduced Monthly Outgoings: Free up cash flow for other financial priorities.
Clear Debt-Free Path: Structured repayments help you visualise and achieve debt freedom.
Reduced Financial Stress: Minimise the burden of handling multiple accounts and due dates.

Check How Much You Could Save Book a Free Debt Assessment

Is Debt Consolidation Right for You?

Secured Debt: Unsecured debts become secured against your home.
Longer Term Consideration: Extended loan terms reduce monthly payments but may increase total interest costs.
Financial Discipline Needed: Important to avoid accumulating new debt on paid-off credit cards.

Our brokers provide a transparent cost-benefit analysis to ensure suitability.

Why Choose Finco Capital?

Comprehensive Assessment: We analyse your full debt profile to determine if consolidation offers significant benefits.
Competitive Rates: Access to low-interest consolidation loans through our lender panel.
Responsible Advice: We provide clear insights on long-term impacts and help structure affordable loan repayments.
Effortless Process: We manage all documentation and lender communication for a smooth transition.

Frequently Asked Questions

What is a debt consolidation loan?

It combines multiple debts into a single loan, usually secured against your home, consolidating repayments and potentially lowering interest costs.

Can all types of debts be consolidated?

Most consumer debts (credit cards, personal loans, car finance) can be included. Some business debts or tax debts may be excluded.

Will I save money?

Typically, yes. Savings primarily come from refinancing high-interest debt to lower home loan rates. Detailed financial assessments are provided.

How much equity is needed?

Lenders usually expect you to retain 20% equity post-consolidation to avoid Lenders Mortgage Insurance.

What are the risks?

The main risk is securing unsecured debts against your home, alongside potential increased interest from longer loan terms. Full transparency is offered to enable informed decisions.

How long does the process take?

Typically 4 to 8 weeks, depending on lender response and application complexity.

Disclaimer

Information is general and not personalised advice. Professional consultation is recommended. Loan eligibility and terms depend on lender criteria and credit assessment. Debt consolidation may extend repayment term and total interest paid.