Consolidation Loans (14.5% APR typical variable)

A Consolidation Loan could allow you to consolidate your existing debts so you are left with one monthly payment. Debts Management will search our panel of lenders to see if we can find you a consolidation loan to suit your personal circumstances.

The main advantages of a consolidation loan can be that you are dealing with one single creditor, you make a lower monthly payment as well as a lower interest rate than your unsecured debt.

Although you could be paying your debts off over a longer period through the loan, it will leave you with one creditor and a lower payment meaning that you may find that your financial stresses are reduced. There is also the risk that if you are unable to make your repayments to your consolidation loan then your home is a risk of repossession.

Unsecured Consolidation Options

Remember, if you are struggling to pay your debts there are other options such as a debts management plan. A Debt Management Plan offers you similar consolidation advantages, without the risk of losing your assets.

For free advice and information on how to deal with your debts, call us free on 0800 0481 777.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERM OF DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY.

For mortgages and re-mortgages the overall cost for comparison is 5.5% APR variable and for secured loans 14.5% APR variable. The actual rate will depend upon your circumstances. Ask for a personalised illustration. A broker fee may be payable on completion, and will depend on your circumstances. For mortgages and re-mortgages this fee is typically between 0% and 3% of the gross mortgage amount, subject to a minimum of £2,495 and a maximum of £3,995. For secured loans, the fee is typically between 0% and 10% of the loan value.