Hi,
I currently have a mortgage. I also have some credit card debt which i would like to move forward on. Do i have any options in regards to refinancing my home loan and include the credit card debt?
Thanks.
Paul Rawkins

Hi Paul,
Thank you for your question. Yes you can repay credit cards by rolling them into your home loan. It does however, depend on the equity available and your eligibility for loan approval. I am local in Albury and would be happy to crunch some quick numbers for you over the phone, or if you wanted catch up for a chat in person. Please feel free to let me know.
Best wishes
Meiken Barnes
0260211320

Hi Paul

Consolidating your debt by refinancing is a common practice that most lenders will be able to assist with.

However, it is worth considering the following before refinancing:

- Refinancing for debt consolidation may reduce your monthly repayment totals, which can help to relieve some of your short-term financial pressure. But by paying off relatively small debts over a longer period, you may ultimately pay much more in interest charges over the full term of the loan.

- If your new combined loan exceeds more than 80% of the value of the property, you may have to pay lenders mortgage insurance.

If you’d like more information, please go here: http://www.ratecity.com.au/home-loans/mortgage-news/refinancing-debt-consolidation.

Good luck!
RateCity.com.au