Debt

Debt consolidation calculator

Compare your credit cards, car loan and personal loans with one consolidated loan, see how much you could free up each month, and decide what to do with it.

What it shows

Your debts, side by side.

What you pay now

Add each debt with its balance, rate and repayment to see your total monthly outgoings and the interest you're carrying.

The consolidated option

See what a single repayment could look like with those balances rolled into one loan at one rate.

Where the saving goes

Redirect the monthly difference back into the loan, so the debt is paid off sooner rather than just spread out.

Worth knowing

Lower repayments aren't the same as paying less.

Consolidating can simplify life and ease cash flow. The key is making sure it also costs you less over time, which is central to how we approach financial wellbeing.

Short debts, long terms

A car loan you'd clear in five years can cost far more if it's spread across the 25 years left on your home loan, even at a lower rate. That's why this calculator shows what happens when you put the monthly saving back into the loan.

Redirect the difference

The strongest consolidations keep repayments close to what you were paying before. The extra goes straight to the principal, and the debt is gone years sooner.

Close the old accounts

Rolling a credit card into your home loan only helps if the card doesn't fill up again. Once a balance is cleared, it's often worth closing the account or lowering the limit.

Check your equity first

Consolidating into a home loan relies on having enough equity. If it takes your borrowing above 80% of your property's value, lenders mortgage insurance may apply.

Debt questions

Straight answers, no judgement.

The questions people ask us most about consolidating debt. Got another? Book a chat.

What is debt consolidation?

Debt consolidation means combining several debts, such as credit cards, personal loans and car loans, into one loan with a single repayment. Homeowners often do this by refinancing and adding the debts to their home loan.

Will consolidating my debts save me money?

It can, because home loan rates are usually much lower than credit card and personal loan rates. But stretching short-term debts over a long loan term can mean paying more interest overall, so the saving depends on how quickly you pay the consolidated amount back.

Does debt consolidation affect my credit score?

Applying for a new loan is recorded on your credit file. Over time, paying debts down and closing credit you no longer use can help. As with any loan, missed repayments on the new loan count against you.

Can I consolidate debt with a poor credit history?

Possibly. Some lenders specialise in helping people with past credit issues, though their rates and terms reflect the extra risk. We'll look at your situation honestly and tell you what's realistic.

Which debts can be consolidated?

Most personal debts can, including credit cards, personal loans, car loans and store finance. Some lenders will also include tax debts or business debts, depending on their policy.

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