Debt Consolidation, Structured Properly
Credit cards, Afterpay, a personal loan, a car loan, and a mortgage that never seems to move. We combine it into one loan and structure it around your goals, not just the lowest monthly repayment.
Make an Appointment Meet the TeamTwo Reasons People Come to Us for Debt Consolidation
Some people need breathing room. The minimum payments across three credit cards, an Afterpay account and a car loan are eating half a pay cheque before anything else gets a look in, and they need that pressure gone this month, not next year.
Other people aren't drowning, they're just tired of managing five different debts with five different due dates and five different interest rates, and they want one loan with one repayment and an actual date it finishes.
Debt consolidation can do both. The trick is knowing which one you're solving for, because the way we structure the loan changes depending on the answer, and that's the conversation we have with you before anything gets submitted anywhere.
What We Tidy Up
Afterpay and Buy Now Pay Later
Several small accounts that quietly add up and affect how lenders read your file, even when the balances look small.
Credit Cards
One card, three cards, cards you've stopped using but still carry a balance on. All of it, into one repayment.
Personal Loans
Wedding, renovation, medical, whatever the reason was. If it's still costing you double digit interest, it's worth a look.
Car Loans
Often the highest rate in the mix. We look at whether it belongs inside the consolidation or is better left where it is.
Multiple Loans Into One
One lender, one rate, one repayment date. Less admin, less chance of missing something, more clarity on where you stand.
How It Works
We look at the whole picture
Every debt, every rate, every repayment. Not just the mortgage.
We work out what you're actually solving for
Cash flow relief, a faster payoff, or both. This decides how we structure it.
We model the real cost
Not just the new monthly repayment, the total interest over the life of the debt, so you can see the trade-off clearly.
We structure and submit
Splits, offsets, terms, all set up properly before it goes to the lender.
You end up with one loan and a plan
One repayment, one rate, and a clear idea of when it's actually paid off.
"Debt doesn't care how you feel about it. It just compounds. So do something about it before it does the deciding for you."
Get In Touch
If your debts have started to feel like they're running you instead of the other way around, this is a straightforward conversation to have. We'll look at what you're carrying and show you what it could look like structured properly.
Make an Appointment Meet the Team
We work with clients Australia wide, and some of our brokers are located in the following locations.
Real Client, Real Result
Mortgage Free at 61 Instead of Working Until 70
A 46 year old maths teacher came to us carrying a mortgage and two maxed out credit cards, single income, with no real plan for getting on top of it. The stress was keeping her up at night, and the lack of sleep wasn't helping the spending.
We sat down and modelled a few paths. Doing nothing. Consolidating and paying the minimum. Consolidating and putting a modest amount extra toward it each month, roughly what she was already paying across her cards. That last option was the one that changed things.
Her consumer debt was gone, folded into one loan at a fraction of the rate. With modest extra repayments she was already used to making, she's on track to be mortgage free at 61 instead of 70, with the choice to keep working, cut back her hours, or stop altogether. Approved and settled within days of applying.
Why Just Rolling It Into a 30 Year Mortgage Is the Wrong Answer
Here's what happens at most banks. You've got $40,000 sitting across credit cards and personal loans at 18 to 22 percent interest. They add it to your home loan, which is on a 25 year term, and suddenly that $40,000 is being repaid over 25 years instead of the 3 to 5 years it would have taken on the original loans.
Your monthly repayment drops. That part's true. But you can end up paying more total interest on that $40,000 over 25 years at 6 percent than you would have paid on the original debts at a much higher rate over a much shorter term. The bank calls it a win because your cash flow problem is solved. Nobody mentions the second half of that trade.
We're not against consolidating into the home loan. We're against doing it blind. There's a proper way to get the cash flow relief without signing up to pay for a car loan for the next quarter of a century.
How We Structure It So You Get Both
This is the part that actually matters, and it's usually skipped. Once we know whether you need cash flow relief, a faster payoff, or both, we build the loan around that.
A common approach is splitting the loan. Your existing mortgage stays on its term. The consolidated debt goes on its own split, set to a shorter term that matches roughly what it would have taken you to clear those debts anyway, just at a mortgage rate instead of a credit card rate. Your total repayment usually still drops from where it was, because the rate difference is doing the work, but you're not stretching $40,000 of Afterpay and car loan debt out to 2051.
Another approach is keeping your repayments at the same dollar figure after refinancing, even though the minimum required repayment is now lower. The gap between what you're required to pay and what you were paying before goes straight onto the debt, which claws back most or all of that extra interest cost from stretching the term.
We can also set it up with an offset account attached, so any spare cash sits there reducing interest daily rather than disappearing into repayments you can't get back if things go sideways.
None of this is complicated once someone explains it properly. It just needs to be structured at the start, because trying to fix it after the fact usually means refinancing again.
Debt Consolidation FAQs
What actually counts as debt consolidation?
Combining two or more debts, usually credit cards, Afterpay, personal loans or car loans, into a single loan with one rate and one repayment. Most commonly this happens through refinancing your home loan.
Can you consolidate credit cards, Afterpay and personal loans into my home loan?
Yes, this is the most common structure. It depends on how much equity you have and how the lender views your overall borrowing capacity once the new debt is added.
Will consolidating my debt actually save me money?
It can, but only if it's structured properly. Simply adding the debt to your mortgage without adjusting the term or repayments can cost more in total interest, even though the monthly figure looks smaller.
Doesn't stretching everything over 30 years cost more in the end?
It can, yes. That's the part most lenders don't walk you through. We structure around this specifically, usually through a separate loan split with its own shorter term.
Can I still pay the debt off faster after consolidating?
Yes. Keeping your repayments at a similar level to what you were paying before, even though the required minimum is lower, is one of the most effective ways to do this.
What if I have a car loan as well?
We look at the rate and remaining term on the car loan against what it would look like folded into the consolidation. Sometimes it's worth including, sometimes it's better left as is.
Will my monthly repayments actually go down?
In most cases, yes, because you're moving from high interest unsecured debt to a mortgage rate. How much they drop depends on your current rates and balances.
Do I need equity in my home to consolidate debt this way?
You need enough equity or borrowing capacity to cover the additional debt being added to the loan. We can work out what's available to you before you apply anywhere.
What if I'm self-employed?
Self-employed income is assessed differently, but it doesn't rule you out. We regularly work with self-employed clients on debt consolidation and know which lenders are more flexible here.
Can you help if my credit file has a few missed payments on it?
Often yes. Lenders vary a lot in how they view past missed payments, and consolidating can sometimes improve your file going forward by reducing the number of accounts you're juggling.
Is debt consolidation only for homeowners?
The home loan refinance structure is the most common path, so it typically applies to homeowners. If you don't own property yet, we can still talk through what options exist for your situation.
Can I use The Broker Society if I'm not local to your offices?
Yes. We work with clients across Australia, not just in the areas our brokers are based. Everything can be done by phone, video and email.
How long does the process take?
It varies by lender and complexity, but most consolidation refinances settle within four to six weeks of application.
What happens after we submit the application?
We manage the process with the lender, chase any documents they need, and keep you updated so you're not the one following it up.
Is there any downside to consolidating debt?
The main risk is moving unsecured debt onto your home loan without adjusting the structure, which can extend how long you're paying it off. This is exactly why the structure matters more than the consolidation itself.