Debt consolidation for home loans


  • Mature aged clients were both working full-time as Court Officers employed by the State Public Service
  • Strong financial position with plenty of equity in their owner occupier and investment properties 
  • Being transparent with clients at each stage of the loan process, and ensured they fully understood what it meant to take out the new mortgage


Our mature aged clients were seeking to consolidate their debt, whilst also achieving interest rate savings – they had three loans across two properties, of which one was a Business loan and the other was a line of credit secured against the investment property. 

The business loan was initially taken out to fund the purchase of their business which the pair had then operated for over 16 years. The business has since been sold and no longer trades.

Their existing investment loan was interest only and the clients were seeking principal and interest repayments, with the ability to repay the loan off early without penalty.

Both clients worked full-time as Court Officers employed by the State Public Service.


The two key challenges in this deal are the following.

  • From the lender choice perspective, clients had a business loan secured against their home which limited the lenders options we could present 
  • From the clients perspective, being in their early 60s, a 20 year loan term was initially requested but unfortunately due to limited borrowing capacity, this desired loan term could not be achieved



For clients who had maintained the same loan for quite some time, it was important that during our presentation we walked them through the process of consolidating their debt with a new lender. 

Prior to the meeting we had completed our research on debt consolidation and requirements to refinance a business loan, to ensure we could assist the clients with their request. From that meeting we gained invaluable information about what they were wanting to achieve, which coincided with our lender recommendation. 

Their decision to proceed was made easy as we thoroughly educated the clients on the process. As a result we submitted a loan application and it was Formally Approved with no conditions.

In the end we were able to consolidate all their existing debt against the investment property and unencumbered their home. The interest rate was a lot more competitive and in a loan structure they were happy with, and even though it was over a 30 year loan term clients were fully aware they can close the loans early if they wished.

Settlement occurred smoothly and we even assisted the clients with obtaining their original Certificate of Title for their home.