I have two credit cards (both nearly maxed out), a personal loan and a home loan. Should I consolidate everything into my home loan to save on paying interest?

Hi Deejay. Homeloans are generally much cheaper interest rates so provided you have available equity (your loan is less than 80% of your property value) in your home this could be an option.

You could also potentially look at interest free balance transfers however this would leave you with a similar situation in 12 months.

Happy to run through your options with you, regards Ariel from Mortgage Advice 0433132331

Agree - yes to the lower interest but I only recommend if you are going to pay off over the same period and cancel the cards. If the loans are paid off over 30 rather 5 years you end up pay much more interest. For a refinance I split the Loan.

We cannot give advice under this forum so i would encourage you to speak to a Financial adviser and a mortgage broker to determine the best option for you and your family.

Generally what you are saying is possible a mentioned it does come down to structuring it right when you refinance.

Also i would like to question why are you maxing out on your credit cards and why do you have a personal loan?

Hope that helps.

Cash is KING
Well worth having a quality broker conduct a finance audit and be able to answer this question based on the facts that surround your personal situation. ... assumptions are NOT what our industry is about

I specialise in refinancing and debt consolidation & deal with clients in your situation on a daily basis. The key here is the equity in your property, happy to discuss further. I could look at 85% inclusive of debts fees & charges depending on your circumstances.

Yes