Debt Consolidation Loans
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Debt consolidation loans from £5,000 to £100,000
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Repayment terms from 3 to 20 years
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Rated 'excellent' by customers on feefo
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Regulated by the Financial Conduct Authority
Too many repayments? Let’s bring it all together
If you’re paying credit cards, loans or overdrafts to different lenders it can be tough to stay on top of it all.
A secured debt consolidation loan can help. We bring your borrowing into one place, with one monthly repayment and a term that suits your budget.
As a UK homeowner aged 21 to 70 you could borrow from £5,000 to £100,000 and repay it over 3 to 20 years.
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Consolidate multiple debts
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One single repayment each month
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Only deal with one lender
FAQs about loans for debt consolidation
What is a debt consolidation loan?
It’s a way to combine debts into a single loan with one repayment. You could use it to pay off:
- Credit cards
- Store cards
- Overdrafts
- Payday loans
- Personal loans
At Evolution Money, we offer secured loan consolidation loans which means your loan is backed by your home. You’ll need to be a homeowner to apply.
What are the benefits of debt consolidation?
Managing several repayments can feel unmanageable. A secured bill consolidation loan or loan and debt consolidation option can help by:
- Simplifying your monthly payments
- Giving you a repayment plan from 3 to 20 years
- Helping reduce your monthly outgoings
- Potentially improving your credit score over time
Our loans have a variable interest rate, so your repayments may change during the term.
How does the process work?
- Check your eligibility online – with no impact on your credit score
- Speak to our team – we’ll give you a quote based on your needs
- If approved, we pay your existing lenders directly
- You repay your new loan in one monthly repayment
Important things to consider
Secured debt consolidation loans can help make things more manageable but it’s worth considering a few points first:
- You may repay more over time, especially with a longer term
- Your loan is secured against your home, so you must keep up with repayments
- Some lenders may charge early repayment fees, so check before applying
- You could speak to your current lenders about payment plans
but this may affect your credit file
If you’re not sure, speak to an independent service like StepChange or National Debtline.
Who can apply for a debt consolidation loan?
You should be eligible for a debt consolidation loan if:
- You’re a homeowner in the UK
- You’re aged between 21 and 70
- You have a steady income
- You can afford the repayments
Can I get a loan with bad credit?
Yes.
We’re not like other debt consolidation lenders. We look at more than just your credit score.
If you’re a homeowner and meet our criteria we’ll consider your full circumstances. Getting a quote won’t affect your credit score.
Why Evolution Money?
We offer secured loans tailored to homeowners across the UK. Here’s why customers choose us:
- We look past your credit score
- We make the process personal and straightforward
- We’re rated Excellent on Feefo
- We’re FCA regulated and a B Corp
- We’re part of the Finance and Leasing Association
We’ll only lend if the loan is affordable for you.
How much can I borrow?
We offer debt consolidation loans from £5,000 to £100,000 depending on your circumstances and available home equity.
How long can I repay over?
Choose a term from 3 to 20 years. A longer term can lower your monthly repayment but you may pay more interest in total.
All our loans come with a variable interest rate so your monthly payments may change during the term.
What fees apply?
We charge:
A Product Fee of up to 10% of your loan amount.
A Lending Fee, which varies by location:
- England and Wales: £763
- Scotland: £1,051
- Northern Ireland: £1,736
Fees can be added to your loan or paid upfront. Your quote will include a full breakdown.
Representative Example
Borrowing £26,600 over 180 months at a variable interest rate of 19.56% per annum, your monthly repayment would be £484.00.
The total amount repayable would be £87,030.00.
This includes:
- A Product Fee of £2,660.00 (10% of the loan amount)
- A Lending Fee of £763.00 (England and Wales)
Annual interest rates range from 11.7% to 46.5% (variable).
Maximum APRC: 50.00%.
Hear from our customers
We’ve helped thousands simplify their finances. But don’t take our word for it.
Other ways we may be able to help
We only offer one type of loan – a secured homeowner loan. But there are different ways we may be able to make it work for your situation. Whether you have bad credit, own part of your home, have a Help to Buy property or want to apply with someone else. We’ll look at your circumstances and see what’s possible.
Bad Credit Loans
We look beyond credit scores. If you’ve had issues in the past, we may still be able to help.
Learn more about bad credit loans
Joint Loans
Applying with a partner could boost your chances and help you borrow what you need.
Learn more about joint loans
Ready to take the next step?
If you’re looking for a simpler way to manage your borrowing a secured debt consolidation loan could help you get back on track. Check your eligibility online within minutes with no impact on your credit score. We’ll show you what’s possible and walk you through everything before you decide.
Think carefully before securing debts against your home your home may be repossessed if you do not keep up repayments on your mortgage or any other loan secured against it. If you are thinking of consolidating existing borrowing, you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.
