You must own a property either Residential or Commercial to qualify for our Debt Consolidation Mortgages.
To consolidate your debts into a mortgage with a bank, generally you must have made all of your repayments on time for the last three months for your unsecured debts and on time for the last six to twelve months for your current home loan. Banks will usually not accept any applications for applicants who have defaults on their credit file
Banks quite often have a limit on the amount of debts and also number of facilities they will consolidate even if you have perfect credit history.
However…. The good news is !!
We have both bank and non-bank lenders on our Panel that will consider unlimited debt consolidation up to 90% LVR (loan to value ratio) in high population Cities or major regional towns with lower LVR’s in smaller population areas. Even if you have defaults or negative listings on your credit file Debt Consolidation Mortgages are available in both Full Doc and Low Doc for Self Employed with clean credit or credit impaired.