Debt consolidation

A debt consolidation loan or mortgage is used to pay off existing (often unsecured) debts, resulting in just one monthly payment. This is far simpler to manage, and can save you money in many cases.

What are the benefits of debt consolidation?

  • Reduce rates on high-interest debt (in some cases)
  • Reduce payments without affecting your credit rating
  • Make just one payment every month
  • Know exactly when your debt will be repaid
  • Reduce monthly payments by spreading them over a longer period

You have two ways to consolidate:

Debt consolidation loans

Are you paying off credit cards, store cards, overdrafts or other unsecured debts? If so, a debt consolidation loan could be the ideal solution for you: pay them all off in one go and start making just one repayment per month.

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Debt consolidation mortgages

If you're a homeowner, you could bring all your unsecured debts into your monthly mortgage payment - and seriously reduce the interest rate you're paying.

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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. Loans subject to status and where mortgages are involved, subject also to type and value of property. An arrangement fee is payable on completion - £1495 for mortgages / 0-10% for secured loans (max £3000). The actual rate available will depend upon your circumstances. Ask for a personalised illustration. DEBT CONSOLIDATION MAY INCREASE THE AMOUNT TO BE REPAID IN THE LONG TERM. Calls may be recorded.

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