Equity release and debt consolidation loans Using your equity, and rolling debts into your home loan
Your home's equity can fund a renovation, an investment deposit or clear high-interest debts. It can also cost more over time if it isn't set up carefully. We'll show you both sides.
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Who this suits
- You want to renovate
- You want a deposit for an investment property
- You want to consolidate credit cards, personal loans or a car loan
- You need funds for a business purpose
How it works
- Work out your usable equityTypically up to 80% of your property's value, minus your current loan.
- Confirm the purposeLenders ask what the money is for, and it affects the structure.
- Structure itA separate split for each purpose keeps records clean.
- Close the old debtsWhen consolidating, we make sure old cards and loans are closed so they don't creep back.
Things worth knowing
Consolidating can cost more in total
Moving a credit card onto a 30-year home loan cuts the rate, but you may pay interest on it for much longer. Paying it off faster keeps the saving.
Keep purposes separate
Separate splits for personal and investment money make your accountant's job easier.
Above 80% usually means mortgage insurance
Borrowing more than 80% of your property's value usually triggers lenders mortgage insurance.
Documents you'll usually need
- Six months of home loan statements
- Statements for debts to be paid out
- Photo ID
- Payslips or financials
- Three months of bank statements
We'll confirm exactly what your lender needs, so you don't gather anything twice.
Calculators for this
Questions
How much equity can I access?
Usually up to 80% of your property's value minus your current loan without mortgage insurance, as long as your income supports the extra borrowing.
Will consolidating debts hurt my credit?
Closing high-interest accounts can help over time. The application itself records an enquiry.
Can I use equity as a deposit on an investment property?
Yes, it's common. We'll structure it as a separate loan.
General information only. It doesn't consider your objectives, financial situation or needs. Lending criteria, fees and charges apply.
Ready when you are.
Book a 20-minute call. We'll listen first, explain your options in plain English, and tell you what we'd do next.