Debt Consolidation Refinance Document Checklist
Debt consolidation refinances roll short term debts into the home loan to reduce monthly commitments. The document pack needs to cover every debt being consolidated plus the standard income and property documents.
Documents to collect
Current home loan statement
Extract balance, rate, repayment type, and any offset or redraw.
Read the full guide →Personal loan statements (all debts to be consolidated)
Confirm current balance, monthly repayment, interest rate, and remaining term for each.
Read the full guide →Credit card statements (all cards to be consolidated or closed)
Confirm current balance and credit limit for each card.
Read the full guide →Car finance statement (if being consolidated)
Confirm balance, repayment, rate, and payout figure.
Income documents (payslips, tax returns as applicable)
Verify current income to support the new combined loan.
Read the full guide →Three months of bank statements (all accounts)
Confirm the debts being consolidated show as regular debits. Check for undisclosed liabilities.
Read the full guide →Credit report
Cross check every listed account against the debts declared for consolidation.
Read the full guide →Tips
- ✓Model serviceability both with and without consolidation to show the client the difference
- ✓Consolidating short term debt into a 30 year mortgage increases total interest paid, so explain the trade off
- ✓Confirm which debts will be closed at settlement and include the payout figures in the funds to complete
How QualifyMate helps
QualifyMate extracts every liability from the credit report and supporting documents, flags discrepancies between declared debts and credit report data, and generates submission notes showing the full liability picture.
Try QualifyMate free →Related checklists
Ready to assess faster?
Assess documents for mortgages in minutes, not hours.