Debt Consolidation Consolidating all of your debts into one single loan or Debt Consolidation Loan, is the biggest reason to take out a loan in the UK. The loans can take many forms including personal loans, credit card transfer, and re-mortgaging.
Consolidation loans are not a cheap option Topic: Debt Consolidation Interest rates on loans are at their highest rates for nearly seven years with those who are looking to borrow struggling to find interest rates of less than 7.6% on a £5,000 loan over 3 years. For those with an below average credit rating the news will be even worse with interest rates being well over 10%.
