Should I use my mortgage to consolidate debt?

Common debt consolidation questions

Ana Wedlock avatar
Written by Ana Wedlock
Updated over a week ago

Taking advantage of a low mortgage rate can be appealing and is an option worth considering. However, any benefit a low rate may provide could be lost if the amount borrowed is paid back over a longer term with more interest payments. Consolidating debt using a home loan but continuing to make the minimum mortgage repayment could mean you end up paying a lot more for the privilege.

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