You will not be the only person finding it more difficult each month to stretch your income to cover your mortgage, your loans and your credit cards. Many of your friends and colleagues will have the same problem, but probably not talk about it. One way you can reduce your overall monthly outgoings is to take an action called debt consolidation, whereby you bring a number of debts into one loan and make one outgoing payment each month. Your advisor on home loans in Cockburn and Kwinana can help you with this task.

1. How Debt Consolidation Helps Reduce Your
Monthly Commitments
© The Mortgage Gallery Rockingham

2. You will not be the only person finding it more difficult each month to stretch your
income to cover your mortgage, your loans and your credit cards. Many of your friends
and colleagues will have the same problem, but probably not talk about it. One way you
can reduce your overall monthly outgoings is to take an action called debt consolidation,
whereby you bring a number of debts into one loan and make one outgoing payment
each month. Your advisor on home loans in Cockburn and Kwinana can help you with
this task.
This plan will reduce your monthly outgoings and might mean you can pay a lower
interest rate on the whole new loan compared to credit card rates and expensive
unsecured loan interest rates.
This method might free up enough monthly money so you can meet your other
expenses more easily, especially if you are struggling to make standard expenses like
electricity, council rates, water rates, gas, phone, Internet and television charges; not
forgetting your buildings and contents insurances.
Keep From a Bad Debt Position
If you become unable to meet your monthly loans, credit card bills and mortgage
payments, your lenders will inform credit agencies that you have failed to keep up with
your agreements. When you look to take out a loan or a new credit card in the future,
the new bank will look at your credit record and may refuse to lend to you because of
those past indiscretions. It is better to talk with a professional early on if you find your
outgoings are too high, so they can make the appropriate recommendations to you
about consolidating your debts.
Their recommendations may help you:
 Reduce your outgoings
 Pay one simple loan expense per month
 Defend your credit rating
 Avoid court battles and/or bankruptcy
 Offer help with quick solutions
© The Mortgage Gallery Rockingham

3. Home Loans in Kwinana and Cockburn Can Help You
Strangely, the higher the amount of dollars you borrow, the lower your interest rate will
be. If the loan includes a mortgage secured against your property, the loan will be at a
lower rate when you compare the rates for unsecured loans or credit card charges.
The clean start this provides your finances will also lower your monthly stress levels.
When you talk to your expert on home loans in Kwinana, Rockingham, Cockburn, or the
surrounding area, they will be looking to help secure the right deal available for a large
range of lenders. The lender, of course, will be checking that you can afford the
repayments each month, but if you have been managing with much higher bills, then the
lender will look at a much lower monthly repayment more favourably.
© The Mortgage Gallery Rockingham