Refinancing or Debt Consolidation
Consolidate multiple liabilities into a single property-backed loan to help streamline your cash flow.
ASCF offers refinancing or debt consolidation loans to both individual and business borrowers. An ASCF debt consolidation loan can allow borrowers to consolidate several existing loans into a single loan or refinance a current private loan that is approaching maturity.
Interest on refinancing or debt consolidation loans can be capitalised so that no contractual repayments are required for the term of the loan, thereby easing potential cash flow concerns and providing breathing room for borrowers to restructure their finances, subject to a verified exit strategy.
Below is an example of how ASCF assisted a previous borrower with a debt consolidation loan:
What is a Refinancing or Debt Consolidation?
Benefit Title
Benefit Description
Case Study
When a couple faced financial challenges due to COVID-19, ASCF provided a tailored loan solution to help them consolidate debt, renovate their home, and prepare for a fresh start in retirement.
Exit
Once the renovations are complete, they will sell the property and purchase in Port Macquarie.
Solution
ASCF offered a 1st mortgage loan of $430,000 at a 46.99% LVR for 6 months, aligning with the customer’s plans to renovate for 3 months and leave 3 months to sell the property. All fees, charges and interest were retained from the loan proceeds at drawdown.
Problem
A husband and wife from Newcastle were struggling with financial commitments following the impact of COVID-19. With their home and personal debts piling up, they decided to downsize and move to Port Macquarie for semi-retirement, aiming to be debt-free. They approached ASCF for a sale-funding loan to consolidate their debts and access an additional $50,000 to renovate their home and maximise its sale value.