After incorporating all of your debt into your home loan you can restructure your repayments to get debt-free sooner.
For instance, you may wish to raise your payments slightly, or make them more frequent.
There are two types of debt consolidation loan: Debt consolidation loans that are secured against your home are sometimes called homeowner loans.
You might be offered a secured loan if you owe a lot of money or if you have a poor credit history.
Find out more about how debt consolidation loans work, then get free debt advice before you make a decision.
Types of debt Nowadays, it’s pretty easy to get your hands on a credit card or personal loan.
This can lead to many people taking on debt easily and quickly.
To come out ahead, you need to find a consolidation loan with a low interest rate and a reasonable term.
You can consolidate using a personal loan or a balance transfer credit card.