Taking control of your borrowing with a debt consolidation loan

Debt consolidation loans let you to bring together all of your borrowing into one personal loan. This might reduce the amount you pay each month on your existing debts and could make budgeting more straight-forward, with a single fixed monthly payment on an agreed date.

Debt consolidation loans are normally unsecured. Lenders will approve you based on your creditworthiness. If you have a poor credit history, you could find it slightly more difficult to get an unsecured loan and you might want to consider other options – Loanbuzz can help you with that by comparing debt consolidation loans from lenders willing to lend to you.

If you’ve seen loans that are secured, you should consider them very carefully. With a secured loan, the debt is linked to an asset (usually your home) – before securing loans against your home you should be aware that it may be repossessed if you can’t keep up repayments.

Loanbuzz can help you find and compare debt consolidation loans

We understand that organising a debt consolidation loan might feel complicated, but it really isn’t. At Loanbuzz, we make comparing and applying for a debt consolidation loan simple and straightforward. We’ll find you a lender that’s best placed to help based on your personal circumstances and needs.

  • We only show you loans that you’re likely to be accepted for
  • You’ll get offers straight away from lenders
  • We present exclusive loans, tailored to your circumstances
  • We keep your details private, so you won’t get any hassle from third parties

The repayments you make will depend on your situation and the amount of the loan you apply for.
You must be a UK resident over 18 years old to apply.

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How can a debt consolidation loan help you?

If you’ve got lots of different debts and you’re struggling to keep up with repayments, a debt consolidation loan could help you to merge them together and lower your monthly repayments.

Your debts won't disappear, but as long as you can afford the monthly repayments it’s a good way to reduce your monthly outgoings and help you manage your money.

As long as the cost of the debt consolidation loan is lower than your existing payments, it should make sense.

If you’re struggling with money and worried about debt, find out where you can get free confidential advice now via the Money Advice Service

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What’s the cost of a debt consolidation loan?

A debt consolidation loan can be a great way of helping you to regain control of your finances. When comparing the cost of all types of loans, it’s worth understanding the factors that impact the total amount that you’ll repay – including the annual percentage rate (APR) and any charges.

Here’s some things to look out for, and how Loanbuzz can help you compare debt consolidation loans:

  1. We show you the actual APR you’ll be charged -

    1. Most comparison sites and lenders simply show you a representative APR. However, only some people will get the interest rate as advertised – meaning that a large number of applicants will pay more. At Loanbuzz, we show you the Truerate: a figure including the entire cost of your loan.
  2. We compare loan offers without harming your credit rating

    1. A less-than-perfect credit rating can still be accepted for a loan; however, you might be charged a higher interest rate. At Loanbuzz, we display quotes from lenders that include the true APR you’ll be charged alongside the likelihood you’ll be approved – all without affecting your credit score.
  3. We only work with lenders who offer a fixed interest rate

    1. Some personal loans have variable interest rates, allowing them to change over time. For this reason, if you’re struggling to afford initial repayments, avoid this type of loan. At Loanbuzz, we only display fixed-rate offers, so you know exactly how much you will pay each month until the loan is fully repaid.
  4. We flag up any arrangement fees

    1. Some lenders charge an arrangement fee, which could make a loan more expensive. At Loanbuzz, we’ll always show you the APR and the total amount repayable for each lender (including any arrangement fee, interest and other charges), so you can easily compare the total cost of loans available.

Remember if you do refinance existing debts, you need to be careful to make sure that the rate of interest you pay is right for you and ideally not higher than the rate you’re already paying. If you do decide to make repayments over a longer period, make sure that you understand the total amount that you will be repaying overall. A debt consolidation loan will ideally reduce the amount you repay monthly and overall.

Take back control!

To compare debt consolidation loans available via Loanbuzz, click the button below. Then fill out your contact information, the amount you’d like to borrow, and details about your residential status, income and employment. We’ll help find a loan that’s truly personal to you..

Ready to get a loan ?

Use our personalised search to find your loan first time without harming your credit score

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We're choosy about who we work with

Every lender we work with is a reputable company, fully authorised and regulated by the Financial Conduct Authority (FCA). We know they’ll treat you fairly and be transparent.

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What makes us different?

Loanbuzz was designed to help consumers compare loans with confidence. We think the days of showing only headline interest rates that tease users into applying for products they may not be eligible for needs to end. Loanbuzz aims to make it easy to apply for loans by ensuring every product you see is a pre-approved or agreed in principle offer from a lender.

  • We’ll always be straight with you.
  • We’ll always work hard to find a lender for your circumstances, every time.
  • We’ll always show you True Rate offers — you’ll know if you can apply and be successful.
  • We’ll always hold our lenders to a very high standard. All of our lenders are authorised and regulated by the FCA.

  • We’ll never take risks with your personal data - we only share it with our trusted panel of lenders, in order to ensure you find a suitable loan.
  • We’ll never contact you without your permission.
  • We’ll never put loans higher up your results table, just because they’ll earn us more money.