Debt consolidation (for existing home owners)
The interest rate on your home loan is usually the cheapest finance available compared to other forms, hire purchase, personal loans etc. So if there is enough equity (difference between the value of your property and your mortgage) available in your existing mortgage you may be able to pay off your other loans from your home loan.
You are also able to separate any new loan on your home and repay them faster just like a hire purchase or a personal loan.
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