CDS Financial Services - Debt Consolidation




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Debt Consolidation

From time to time we find ourselves with lots of small short term loans. Interest rates applicable to such loan are often quite high and demand hefty monthly repayments for the amount of money that has been borrowed.

With many homeowners having substantial equity in their home it is quite simple to consolidate these expensive loans to reduce monthly repayments significantly.

Recently one of our clients consolidated their debts as follows:

Type		Amount		Monthly Repayments

Home Loan	$	300 000	$	2 160
Car Loan	$	20 000	$	500
Personal Loan	$	15 000	$	350
Credit Card	$	5 000	$	100

Total	$	340 000	$	3 110

New Loan	$	340 000	$	2 375

Saving Per Month			$	735

Short term debt is an expensive means of finance. A mortgage can be used as a debt reduction tool with monthly savings being placed back onto the mortgage to reduce total debt.

If you can afford to use the repayments previously made on the individual loans to pay off your mortgage, you could quite easily save $280 000 and 14 years on your mortgage.

CALL DISCUSS SELECT today and find out how you can benefit from refinancing - our service is FREE.

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	Loan Calculator
	If you would like to find out how much your repayments will be as well as what costs shall be involved with your refinance or purchase, click here.

Mortgage Industry Association of Australia Full Member

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