Debt Consolidation Loan
Cut your interest repayments with a debt consolidation loan. If you have borrowed from a high-cost lender and you’re paying sky-high interest consider consolidating your debt with a credit union loan.
High-cost internet and doorstep lenders, payday loan companies and credit cards can all make borrowing expensive. Companies like Omega Loans, Likely Loans and Cashfloat all charge interest rates that mean you end up repaying far more than you borrowed.
A credit union loan can be used to pay off your existing debts at a rate that is affordable to you.
Credit union loans have no hidden costs and are flexible, meaning you can pay them off at any time without penalty.
Borrow £800 and repay over a year in 12 monthly instalments
|*Based on loan rates promoted on lender websites on 18th April 2019|
What you need to know:
Loan terms between 3 – 84 months
When considering how quickly you repay a loan you need to ensure you have enough disposable income to meet daily living expenses, but paying of a loan quickly means you pay less in total interest. Our loans can be repaid in full at any time with no penalty.
How much interest do we charge?
Our Annual Percentage Rate (APR%) ranges from 12.68% to 42.58%. The rate is dependent on the amount you borrow and we charge no additional fees or costs.
Unlike other lenders, we do not charge different interest rates based on your credit score. So the Representative Rate is the rate you will pay.
To see how much interest you will pay, enter the amount you wish to borrow in our loan calculator.
Read about our loans to see what sort of information we require from applicants.
Or see below for an example of how much you could save with a credit union loan.