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Compare Our Best Debt Consolidation Loan

Clear your debt with a debt consolidation loan by combining your debt and making a single monthly repayment. Find consolidation loans with low APRs to save on interest.

  • Compare loans from leading providers
  • Consolidate debt into a single monthly payment
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Compare debt consolidation loans from leading companies

You'll only find results from genuine companies. Our data experts check each company before we add them to our comparisons.

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See the interest rate you’re eligible for before you apply

With real interest rates you'll see exactly how much you’ll need to pay each month. And which lenders will pre-approve your application before you apply.

How it works

1

Check your eligibility

Answer a few quick questions. This will not impact your credit score.

2

Compare personalised loans

See the exact amount you’ll need to pay each month – no estimates.

3

Apply online

Complete your application on the lender website. You could get your money in hours.

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14 results found, sorted by lowest representative apr. How we order our comparisons.
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AA Personal Loan Ex/C Member
Loan amount
£1,000 to £25,000
Representative APR
2.8% APR (£15,001 to £25,000)
Loan term
1 year to 7 years
Personal loan with 12 months breakdown cover at no extra cost, existing AA members are entitled to an add-on at no extra cost.
Available to existing customers only.
Representative Example: Representative 8.2% APR fixed. Based on a loan of £4,000 for 36 months at 8.2% p.a. Total £4,506.12 repayable at £125.17 per month.
Eligibility
UK Resident
Minimum Age21 years
Minimum Income£12,000
Credit Rating Acceptedgood
AA Personal Loan
Loan amount
£1,000 to £25,000
Representative APR
2.9% APR (£15,001 to £25,000)
Loan term
1 year to 7 years
Personal loan with 12 months breakdown cover at no extra cost, existing AA members are entitled to an add-on at no extra cost.
Representative Example: The representative rate is 3.0% APR (fixed) so if you borrow £17,500 over 60 months at a rate of 3.0% p.a. (fixed) you will repay £314.14 per month & £18,847.80 in total.
Eligibility
UK Resident
Minimum Age21 years
Minimum Income£12,000
Credit Rating Acceptedgood
Monevo Personal Loan
Loan amount
£1,000 to £35,000
Representative APR
10.6% APR (£15,000 to £19,999)
Loan term
1 year to 5 years
Monevo is a credit broker and not a lender.
Representative Example: The representative rate is 10.6% APR (fixed) so if you borrow £15,000 over 5 years at a rate of 10.6% p.a (fixed) you will repay £319.57 per month and £19,174.37 in total.
Eligibility
UK Resident
Maximum AgeUnlimited
Minimum Age18 years
Minimum Income£7,000
Credit Rating Acceptedpoor

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Your personalised bad credit loan results are powered by Monevo. They make sure you only see real interest rates. Not just estimates like some lenders show you.

What are debt consolidation loans?

Debt consolidation loans let you borrow money, to pay off all your existing debts.

By merging all the money you owe into a single loan, consolidation loans let you switch to just one monthly repayment to a single lender.

It can be used to pay off credit cards, store cards, overdrafts, buy-now, pay later debt and other personal loans.

The idea is that to have a single, monthly, payment - as well as hopefully saving you money on interest.

There are two principal types of debt consolidation loan - secured and unsecured.

Can you get an unsecured debt consolidation loan?

Most debt consolidation loans are only available to homeowners, so they tend to be secured loans.

But unsecured consolidation loans can still save you money on your debts, and you don’t need to own a property to get one.

Unsecured consolidation loans are not secured against anything you own, such as a property or vehicle.

Use our comparison table to find an online personal loan, which you can use to consolidate debt.

When you start looking for debt consolidation loans, UK wide, there are a few steps you can take to make sure you get the right one for your needs.

  • Decide how much you need to borrow: Add up all the debts that you want to pay off with your debt consolidation loan. Don’t forget to include any extra charges you’ll need to pay to pay your debts off early.

  • Think about how long you’ll need to pay it back: The longer you take to pay back your debt consolidation loan, the lower your monthly payments will be. But, of course, the longer you take to pay it off, the more you’ll end up paying back overall.

  • Look for the lowest interest rate: The interest rate is the biggest cost on consolidation loans, so it’s important to find the lowest rate you can. Lenders advertise their representative APR, but that’s just the rate they promise to give to 51% of borrowers. The rate they offer you could be higher or lower depending on your credit history and other factors.

How much debt can you consolidate and for how long?

Debt consolidation loans go up to £25,000. That means you could consolidate up to £25,000 of debts using an unsecured debt consolidation loan.

You’ll find that debt consolidation loans, UK wide, usually offer terms of between one and five years.

If you think you’ll need longer to pay back your debt consolidation loan, it’s worth remembering that some lenders offer loan terms of up to seven years. But you’d only be likely to get such a long term if your consolidation loan is over £10,000.

Our loan repayment calculator can help you to see how changing the term can affect your monthly payments. By trying out different options with a range of debt consolidation loans, you can see if debt consolidation is suitable for you.

How can I get the cheapest debt consolidation loan?

It’s only worth doing debt consolidation if you can find a debt consolidation loan that gives a cheaper interest rate than you’re already paying cumulatively on your debts.

Although there are no best loans, our comparison can help you compare debt consolidation loans, and find the deal that is right for you. Check out consolidation loans, UK wide, and compare interest rates. Then get your own quote from each lender.

What are the pros and cons of debt consolidation loans?

  • Reduce monthly payments
  • Could be cheaper to pay off
  • Only owe money to a single lender
  • Could take longer to pay off
  • May have to pay fees
  • Could cost more in the long run

"When working out if an unsecured debt consolidation loan can save you money, make sure you take any early repayment charges on existing debts into account.

"If you don't do this, you could see your new loan end up costing you more than your old ones."

What are the alternatives to debt consolidation loans?

Debt consolidation may not be your only option. Even the best consolidation loans might not be the best way to consolidate debt, depending on your situation. It’s sensible to look into alternatives as well.

And remember, if your debts are getting on top of you, or you don't have the best credit rating, you can get free debt advice from a range of charities in the UK¹.

0% money transfer card

You can use these to move money into your back account, for a small transfer fee. And then you pay them back, interest free, over a set amount of time.

0% balance transfer card

These are good for people with credit card debts. You move what you owe onto a single, new card, for a small fee. Then you can pay them back, interest free, over a set period.

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Why compare unsecured debt consolidation loans with money.co.uk?

By comparing loans, you could save money on your interest payments. Our award-winning loan comparison service makes sure you get our best interest rates. Our aim is to provide you with the most up-to-date information, as well as useful tools and calculators so to help you make life's most important decisions and take control of your money.

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We have always aimed to provide the best possible services to bridge the gap between our users and our clients. Over the years, we have been thrilled to be recognised by various prestigious bodies and organisations for those efforts.

¹Stepchange debt charity offers free expert debt advice, along with National Debtline and Citizen's Advice.

Last updated: 7 September 2021