Tell us your debts. We will model the real cost.
A short, honest assessment from Jason or Steve. We calculate your monthly saving, total interest cost and payoff timeline - and reply within one business day. No fee from us - the lender pays us when your loan settles.
Steve does the legwork. Your part is one 15-minute call.
Steve reviews the rates, balances and minimum payments across all your debts, models the monthly saving, total interest cost and payoff timeline, and compares 60+ lenders for the right structure.
Over 8 years across finance and mortgage broking, known for his thoroughness, his patience and his ability to make an overwhelming process feel manageable.
Consolidation can lower your interest cost or raise it. The difference is how it is structured.
The structure is ours. The decision is yours.
- Review every debt - the rates, balances and minimum payments across credit cards, personal loans and car loans.
- Model the consolidation - monthly saving, total interest cost and payoff timeline, including what happens if you stretch it vs pay it off fast.
- Put consolidated debt on a separate loan split with a defined payoff date. Your original mortgage stays on its own term.
- Compare 60+ lenders on rates and consolidation policies, including which are more flexible on LVR and debt types.
- Have the new lender pay out your debts directly at settlement, so you make one payment from day one.
When consolidation can cost you more
- The debt is spread over your full mortgage term. You save on monthly payments but pay far more overall.
- It is just added to your existing loan and forgotten. Most people do this. That is the wrong way.
- The consolidated amount would push your LVR above 80%. You need enough equity in your home to cover it.
- You want to keep the cards open. Most lenders require credit card accounts to be closed at settlement.
If you are close to the equity limit, we can still explore options. Some lenders are more flexible than others.
From first call to one single payment
We review your debts
Send us a summary of what you owe. We review the rates, balances and minimum payments across all your debts.
We model the consolidation
The exact monthly saving, total interest cost and payoff timeline, and what happens if you stretch it vs pay it off fast.
We find the right lender
We compare 60+ lenders for the right rate and structure. Some lenders are better for consolidation than others.
Settlement and close
The new lender pays out all your debts directly. Credit cards are closed at settlement. You make one payment from day one.
What clients say
The questions people ask us
How does debt consolidation through a mortgage work?
You refinance your existing mortgage plus all other debts into a single home loan. The new lender pays out your credit cards, personal loans and car loans directly at settlement. You make one monthly repayment at a much lower interest rate.
How much can I save by consolidating debt?
It depends on the amount and interest rates of your existing debts. Credit cards and personal loans charge far more interest than a home loan, so moving card debt onto a home loan usually lowers the interest you pay, provided the consolidated amount is paid off over a short term rather than 30 years. We calculate the exact numbers for your situation.
Will I end up paying more interest if I consolidate into my mortgage?
Only if you spread the debt over your full mortgage term. We structure consolidated debt on a separate loan split with a 3-5 year payoff timeline. This gives you the benefit of the lower rate without extending the debt.
Do I need to close my credit cards?
Most lenders require credit cards and personal loan facilities to be closed at settlement when consolidating. This is a positive step - it removes the temptation to re-accumulate debt on cleared cards.
What debts can be consolidated?
Credit cards, personal loans, car loans, buy-now-pay-later balances, store cards, tax debts and most other unsecured debts. We review each one and advise which are worth including.
How much equity do I need?
You need enough equity in your property to cover the consolidated amount without exceeding 80% LVR. For example, if your home is worth $500,000 and your mortgage is $300,000, you have $100,000 of usable equity (to stay under 80%).
Does debt consolidation affect my credit score?
There is a minor temporary impact from the credit application. However, closing multiple high-interest accounts and making consistent repayments on a single loan improves your credit profile over time.
Is there a cost to use Lendology?
No. Lendology is paid a commission by the lender when your loan settles. There is no fee to you for our advice, comparison or application work.
Do your own homework
Ready to clear your debts?
We calculate your monthly saving, total interest cost and payoff timeline, and give you an honest answer with no obligation to proceed.
No fee from us. The lender pays us when your loan settles.