Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Debt Consolidation Loans Compared

MoneyHub's re-launched guide to debt consolidation loans helps explain the benefits of combining debts into one loan. For homeowners, the guide explored the option of a revolving mortgage facility which can work out to be significantly cheaper than a new loan.

MoneyHub's Senior Researcher Christopher Walsh said:

“Piling up debts cause massive stress for households of all income levels, and sometimes it can feel near-impossible to get on top of. With household borrowing at record levels, making debt affordable and manageable has never been more urgent”.

“Interest rates are at record lows, and while unsecured debt rates haven’t dropped like mortgage rates, the array of dent consolidation offers around today are enticing for borrowers to re-commit their debts at a much lower rate”.

“Our view is that debt consolidation won’t be for everyone, but for households with multiple debts, there are advantages. However, for a debt consolidation loan to be effective, we believe the debt level must be manageable, credit scores and affordability must be in good shape, and no more debt can be taken on”.

“Our guide outlines everything the New Zealand consumer needs to know about debt consolidations, tips to make it cheaper and most importantly get people debt-free, faster”.

"Our guide encourages those with long-standing consumer debt to explore the options, whether it be a bank loan, credit union deal or secured lender offer. We’ve seen secured borrowing as low as 5.03% p.a. this week, and with some credit cards still charging about 20% p.a., saving money is realistic”.

MoneyHub will update the guide on an ongoing basis as rates change and new lenders enter the market.

See More: Best Debt Consolidation Loans (and helpful alternatives)

© Scoop Media

Business Headlines | Sci-Tech Headlines


TradeMe: Property Prices In Every Region Hit New High For The Very First Time

Property prices experienced their hottest month on record in December, with record highs in every region, according to the latest Trade Me Property Price Index.\ Trade Me Property spokesperson Logan Mudge said the property market ended the year with ... More>>

Motor Industry Association: 2020 New Vehicle Registrations Suffer From Covid-19

Chief Executive David Crawford says that like some other sectors of the New Zealand economy, the new vehicle sector suffered from a case of Covid-19. Confirmed figures for December 2020 show registrations of 8,383 were 25% ... More>>

CTU 2021 Work Life Survey: COVID And Bullying Hit Workplaces Hard, Huge Support For Increased Sick Leave

New data from the CTU’s annual work life survey shows a snapshot of working people’s experiences and outlook heading out of 2020 and into the new year. Concerningly 42% of respondents cite workplace bullying as an issue in their workplace - a number ... More>>

Smelter: Tiwai Deal Gives Time For Managed Transition

Today’s deal between Meridian and Rio Tinto for the Tiwai smelter to remain open another four years provides time for a managed transition for Southland. “The deal provides welcome certainty to the Southland community by protecting jobs and incomes as the region plans for the future. The Government is committed to working on a managed transition with the local community,” Grant Robertson said. More>>


OECD: Area Employment Rate Rose By 1.9 Percentage Points In The Third Quarter Of 2020

OECD area employment rate rose by 1.9 percentage points in the third quarter of 2020, but remained 2.5 percentage points below its pre-pandemic level The OECD area [1] employment rate – the share of the working-age population with jobs – rose ... More>>

Economy: Strong Job Ad Performance In Quarter Four

SEEK Quarterly Employment Report data shows a positive q/q performance with a 19% national growth in jobs advertised during Q4 2020, which includes October, November and December. Comparing quarter 4, 2020, with the same quarter in 2019 shows that job ad volumes are 7% lower...More>>

NIWA: 2020 - NZ’s 7th-warmest Year On Record

The nationwide average temperature for 2020, calculated using stations in NIWA’s seven-station temperature series which began in 1909, was 13.24°C (0.63°C above the 1981–2010 annual average). New Zealand’s hottest year on record remains 2016, when... More>>

Quotable Value New Zealand: Property Market Set To Cool From Sizzling To Warm In 2021

Nostradamus himself could not have predicted the strange series of events that befell our world in 2020 – nor the wild trajectory of New Zealand’s property market, which has gone from “doom and gloom” to “boom and Zoom” in record time. Even ... More>>