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Debt consolidation is a financial strategy that combines multiple existing debts into a single loan, making it easier to manage and potentially reducing the amount of interest paid. By consolidating your debts, you streamline your financial obligations into one manageable monthly repayment. If you’re ready to explore your debt consolidation loan options, get covered today through Budget Money!
Unsecured debt consolidation loans lack collateral backing, unlike those secured by homes or assets. They are favoured by individuals who’d rather not put their property at risk when borrowing to merge debts. Borrowers should be mindful of potential early repayment fees when considering an unsecured debt consolidation loan.
To apply for a debt consolidation loan in the UK, you must meet certain eligibility criteria set by lenders. These criteria typically include factors such as your credit score, income level, and existing debts. Here is a breakdown of the common eligibility requirements for UK residents seeking a debt consolidation loan:
We understand that our customers want more than just great value cover; they also want peace of mind.
Working with our partner Aro, Budget Money gives you access to a trusted panel of UK lenders. Opting for a debt consolidation loan comes with several benefits that can make the debt consolidation process smoother and more manageable:
*Unsecured products only
*Unsecured products only
Loan terms from 1-8 years
With easy online comparison available in minutes
Review your loan options in under 3 minutes
You can use a debt consolidation loan to pay off various types of debt like credit cards, and personal loans.
When considering debt consolidation loans in the UK, be aware of potential fees or hidden charges. Carefully review all terms and conditions to understand the full cost involved before committing to any loan agreement.
If you miss a payment on your debt consolidation loan, it can negatively impact your credit score, incur late fees, and potentially lead to further financial difficulties. Contact your lender immediately to discuss options.
Whatever the need, we can quickly match you with accurate personal loan options that are tailored to you. Find personal loans up to £50,000 over a minimum of 1 year to a maximum of 8 years, with interest rates ranging from 8.9% APR to 275% APR. Representative example: 39.9% APR Representative based on a loan of £7,500 repayable over 60 months at an interest rate of 39.9% pa (fixed). Monthly repayment of £290.14. Total amount repayable is £17,408.37.
Budget Money is a trading name of BISL Limited. Registered Office: Fusion House, Katharine Way, Bretton, Peterborough, PE3 8BG. Registered in England No. 3231094. We are authorised and regulated by the Financial Conduct Authority. We are an independent intermediary dealing with selected insurers. For mutual security calls are recorded and monitored for training purposes.
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