SK Finance and Home Loans
Debt Consolidation
Managing several repayments can be difficult. We can help you review your current debts and understand whether consolidation could be an option.
About this service
Finance guidance built around your circumstances.
If you have several debts, refinancing may allow eligible debts to be combined into your home loan. We can help you understand whether this may suit your situation.
Every borrowing situation is different. Your income, financial position, goals, property and the lender's assessment criteria can all affect the options available to you.
Our role is to help you understand the finance process, discuss your requirements and explore lending options that may be suitable for your circumstances.
Who this may be for
This service may be relevant to customers in situations such as:
- Homeowners with multiple eligible debts.
- Borrowers considering refinancing.
- People reviewing their current debt structure.
- Borrowers wanting to understand consolidation options.
How we can help
Depending on your circumstances, we can help you understand areas such as:
- Reviewing your existing debts.
- Identifying debts that may be eligible.
- Exploring refinancing options.
- Discussing repayment structures.
- Understanding costs and longer-term considerations.
- Supporting the refinancing application.
Things to consider
Your circumstances matter.
When assessing a lending option, there are several factors that may need to be considered. The exact requirements depend on the lender and your individual circumstances.
Your current debt balances.
Interest rates and repayments.
Remaining loan terms.
Refinancing costs.
The proposed new loan term.
Your overall financial position.
Why work with us
A simpler way to approach your finance.
We focus on clear conversations, practical guidance and helping you understand your lending options.
A clearer picture of your current debts.
An understanding of possible consolidation options.
Help reviewing your repayment structure.
A better understanding of the costs involved.
Our process
From conversation to next steps.
The exact process can vary depending on your circumstances, lender and finance requirements. Generally, the journey can look like this.
Review your debts
We discuss your current home loan, credit facilities and other eligible debts.
Look at your finances
We review your income, expenses, assets and liabilities.
Explore your options
We look at refinancing and debt consolidation options that may be available.
Consider the overall cost
We discuss the proposed loan structure, fees and longer-term considerations.
Submit the application
If you decide to proceed, the relevant application is prepared and submitted.
Complete the refinance
Subject to lender approval and completion of the required steps, the refinance moves towards settlement.
Getting prepared
Documents you may need.
The documents required will depend on your circumstances and the lender. These are examples of information that may be requested.
Current loan statements.
Credit card or personal loan statements.
Identification.
Income evidence.
Bank statements.
Property and mortgage information.
Frequently asked questions
Questions about debt consolidation?
Does debt consolidation reduce what I owe?+
Not necessarily. Consolidation restructures eligible debts into another loan. Your repayments, interest and loan term may change.
Can I consolidate credit card debt into my home loan?+
Depending on your circumstances and the lender's criteria, eligible credit card debt may potentially be included as part of a refinance.
Is debt consolidation always the right option?+
Not necessarily. The interest cost, fees, loan term and repayment structure should all be considered before proceeding.
Let's talk
Ready to talk about your finance goals?
Start with a conversation about your goals and circumstances. We'll help you understand the next steps and the lending options that may be available to you.
Debt consolidation can change your loan term, repayments and total interest cost. Consider the overall financial implications before proceeding. Lending is subject to lender criteria, assessment and approval.