Unsecured Debt Consolidation Loans

If you are looking for a personal loan to consolidate your existing debt then we can help. We have a range of low rate unsecured loans from a range lenders. Search from our panel of lenders to see who is offering the best rates and offers today.

IMPORTANT: We work hard to compare and display only the best and cheapest loans on the market place
so you can be sure you’re getting the best deals found anywhere.

All Credit Types
Rated 5 / 5

Norton Finance * Experts Choice

Loan Type
Unsecured & Homeowner Loans

Loan Amount
£3,000 - £250,000 plus

APR
From 2.8%

Loan Term
3 - 25 years

Apply to Norton Finance and their expert loan brokers will search the market to find you a suitable loan at the cheapest rate possible.

Applications taken for both secured loans and unsecured personal loans. Loans can also be arrange quickly for bad credit applicants or those with a low credit score.

Representative example If you borrow £12,000 over 4 years at a Representative APR of 16.9% and an annual interest rate of 16.9% APR (fixed) you would pay £338.36 per month.

All Credit Types
Rated 5 / 5

Avant Credit * Best for low credit score

Loan Type
Unsecured | Personal (Poor Credit)

Loan Amount
£1,000 - £20,000

APR
9.3% - 79.9%

Loan Term
1 - 4 Years

This lender offers loans to those people who have a low credit score. No early repayment fees.

Representative Example: The Representative APR is 42.5% APR (fixed) so if you borrow £3,000 over 3 years at a rate of 31.9% p.a (fixed) plus an arrangement fee of £157.90, you will repay £137.31 per month & £4,943.24 in total.

Poor Credit
Rated 5 / 5

UK Credit * Guarantor loan

Loan Type
Guarantor | Tenant & Homeowner

Loan Amount
£1,000 - £7,500

APR
34.05%

Loan Term
3 - 5 Years

Please be aware that this is a loan where you will need to have a guarantor in place.

£4000 over 4 years, representative 39.9% APR fixed. Monthly payment £153.60. Annual interest rate 34.05% fixed. Interest payable £3372.80. Total repayable £7372.80. *Rates from 37.9% APR (fixed) to 59.9% APR (fixed) - rate offered is based upon personal circumstances.

All Credit Types
Rated 5 / 5

Carfinance247

Loan Type
Car Finance Broker

Loan Amount
£1,000 - £75,000

APR
5.9% Representative

Loan Term
1 - 5 Years

We make the whole process hassle-free & provide the customers with a helping hand throughout. Our aim is to get the best possible finance deal for our customers, whilst providing an efficient service of the highest quality.

We pride ourselves on the fact that we can help customers in varying financial circumstances, including those that have been refused elsewhere for bad credit, CCJs, defaults and arrears. We're confident that we can find the right car loan for them.

Don't just take our word for it either, 94% of all customers recommend us* with our service receiving 100% positive ratings.

 

Lending Expert is a credit broker, not a lender

What are unsecured debt consolidation loans?

Debt consolidation loans

If you are in the position where you have a number of debts that are perhaps from credit cards, store cards, overdrafts or other loans, you might be finding it difficult to keep track of them all and make sure that all of the payments are being made on time as they should be.

It doesn’t take much to forget about a couple of payments and your credit score can plummet fairly rapidly if you fail to pick up your payments again. So an unsecured debt consolidation loan is one that you take out in order to pay off some, or maybe even all, of your other debts so that you only have to make one single payment each month. This then makes it easier for you to manage, and much less likely for you to miss a payment in the future.

Where can I get debt consolidation loans?

You can get unsecured debt consolidation loans from a wide range of lenders, many of them mainstream. Therefore if you have missed a couple of payments it is worth looking for a consolidation loan sooner rather than later so that you still have access to the best products on the market, while you still have a good credit rating.

Pros and cons of using debt consolidation loans

Clearly the biggest pro is that you bring all of your debts together in one place so they become much easier to manage. Not only do you only have one payment to think about, your total monthly repayment is also like to be less than if you pay all of the debts separately. With a longer term consolidation loan you are also likely to be paying a lower interest rate, which can be as low as around 5%, than other debt types, particularly store cards and credit cards. However you will need to take into account any early repayment fees that are associated with your current debts.

One potential disadvantage of having a consolidated loan over a longer repayment period is that you may end up paying more in interest over the term of the loan than if you have left them all separate. However having one loan that you can reliably pay every month will keep your credit score healthy as long as you maintain the repayments each month, while lots of debts that you may miss payments on by accident will not be good for your credit score and will likely effect your chances of getting credit or a loan in the future.

What to note when considering a debt consolidation loan

Apply for a debt consolidation loan

As with any type of loan you will have to do some research to make sure that you are making the right move and that will allow you to select the right product for you. You will need to calculate the total loan that you need and then you will need to look at the interest rates that this will attract. There are different interest rates associated with different loan amounts and sometimes is can be worth taking out a little more in order to benefit from the lower interest rate, but make sure that you remain disciplined in order to benefit most from the deals that are on offer to you.

Also see secured debt consolidation loans

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