A Debt consolidation loan is a loan used to repay several other loans. It is a single, low cost, secured loan. A UK Debt Consolidation Loan is a low cost loan secured on your UK home. It frees up the spare capital (or equity) in your home to repay your store card and other debts. The loan may have been taken due to debts incurred through personal loans, credit cards, overdrafts, or may represent any number of unpaid bills that have built up over time. Debt Consolidation Loan rates are variable, depending on status. Monthly repayments will depend on the amount borrowed and the term. These loans can give you a fresh start, allowing you to consolidate all of your loans into one – giving you one easy to manage payment, and in most cases, at a lower rate of interest. It can reduce both your interest costs and your monthly repayments, putting you back in control of your life.
Average household debt in UK is 44857 including mortgage and 7,694 excluding mortgage. UK has seen a rapid increase in household debts, which means that more than half of the people have trouble meeting their monthly payments, and are being driven further and further into debt. With an average...