Debt consolidation loan to simplify

Debt consolidation combines several debts into one loan with a single repayment. It can simplify your finances and may reduce the interest or fees you're paying, depending on your situation. Keep in mind that a longer term can mean more interest overall, even if your repayments are lower. Approval is subject to lending criteria and affordability checks, and fees apply.

The amount you can borrow depends on how much you need to consolidate your debts and what you can comfortably repay based on your income and expenses. Lenders will review your financial situation to determine affordability.

Your rate is personalised. It's based on things like your credit history, your overall financial position, and whether the loan is secured. You can see the current rate range in the Loan Information section below.

Debt consolidation loans usually have an establishment fee and an introducer fee, and some lenders charge ongoing account fees. We'll explain every fee upfront before you go ahead, so there are no surprises. Full fee details are in the Loan Information section below and in your loan contract.

Debt consolidation terms typically range from one to five years, depending on how much you're consolidating and what suits your budget. A longer term means smaller repayments, but more interest over the life of the loan.

We’re on a mission to make borrowing better and that means making the application process super simple. Fill in the form and our smart tech will help assess whether debt consolidation is right for you. With better finance™️ you will work with a financial adviser who will step you through the various steps of debt consolidation (for example, assessing which debts you want to consolidate and the details of each of those — rate, amount, term) and help you understand the options appropriate for your needs. Once we’ve checked everything, the funds could be with you in as little as 24 hours.

No, combining your debt doesn't hurt your credit rating. Debt consolidation loans are a common way people budget better and pay off debt. They can be used to manage repayments or reduce the total cost of borrowing, depending on your priorities. Make sure you understand the details before signing on the dotted line.

A few things to weigh up. There may be fees to set up the new loan, though these can be offset by paying less interest overall. Depending on how it's structured, stretching debts over a longer term can mean more interest in total, even with lower repayments. If the loan is secured against an asset like your car, missing payments could put that asset at risk. And consolidation combines your debts - it doesn't change spending habits, so it's worth reviewing your finances for the longer term too.

It depends on your income, your credit history, and how much you want to consolidate. We'll look at whether you can comfortably afford the new repayments, and talk you through whether consolidation is the right move for your situation. You can apply online without affecting your credit score.

Either. It can be unsecured, or secured against an asset like your car. A secured loan can come with a lower rate, but missing payments could put the asset at risk. Which one suits you depends on your situation - we'll talk it through.

Get in touch with your lender as soon as you can - the earlier the better. Missing a repayment may mean fees and could affect your credit score, and if your loan is secured against an asset, that asset could be at risk. Lenders can often work something out if they know early.

Yes - being self-employed doesn't rule you out. Lenders will usually want to see proof of income, like bank statements or financial records, to understand what you can comfortably repay. We'll let you know what's needed.

You can apply online or in person. You'll share some financial details - your income, expenses, and the debts you'd like to combine - so we can check what you can comfortably afford. A financial adviser works with you through each step, so you understand your options before anything's locked in.