Paying too much to too many lenders?

Refresh your finances now

If you’re paying out for a number of different loans or credit cards, a debt consolidation loan from Shawbrook Bank could save you money every month in interest. And with just one regular monthly payment, fixed for the life of the loan, it could make budgeting a lot easier.

Loans are subject to status

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What is a debt consolidation loan?

A debt consolidation loan can either refer to an unsecured personal loan which is not secured against any of your personal assets or a secured loan which is usually called a second charge mortgage and is secured against your home. It can help you to reorganise your finances and streamline all or some of your existing debts into one monthly payment.

Having just one single payment to manage rather than several, could be easier to keep track of and help make budgeting easier.

How debt consolidation loans work

An unsecured debt consolidation loan works in the same way as an unsecured personal loan. At Shawbrook you can apply for a quote for a debt consolidation loan. Before you apply, make sure you meet our initial eligibility criteria:

  • Be aged 25 to 75
  • Have been a UK resident for at least three years
  • Have an annual income of at least £15,000
  • Have a personal bank account in the UK

When you apply for a quote, we could offer you a fixed rate and you will pay the loan back in fixed monthly repayments.

Shawbrook debt consolidation loans are unsecured personal loans, which means it is not secured against any of your personal assets.  All loans are subject to status.

Clear the decks and keep it simple

Debt consolidation is about making things clear and simple - just like a Shawbrook Bank Personal Loan. We give you a guaranteed, personalised rate right from the start - and we could offer you a better rate than your own bank.

Get a quote without affecting your credit score

Your credit score affects how much you can borrow, who will lend to you, and what rates you’ll pay. But when you ask us for a quote, we only do what’s called a ‘soft’ credit search. That means it won’t leave a footprint that’s visible to other lenders. We only record a search footprint if you decide to proceed with the loan application.

This is one of our five-point promises to you, we’re open and transparent, and we want you to get the rate that’s right for you, so you won’t be penalised for shopping around. We only record a search footprint if you decide to proceed with the loan application. 

Read our Transparency Charter

What’s different about a Shawbrook Bank consolidation loan?

  • No rug-pulling. We give you a clear, guaranteed rate upfront. No surprises.
  • Beat the street. A loan from us may be a better rate than high-street banks, including your own.
  • One size doesn’t fit all. Our team will consider your personal circumstances. That’s particularly important if your life choices don’t meet the norm, for example if you’re self-employed, or have a non-standard address.
  • A little or a lot. You can borrow from £1,000 to £25,000.
  • It’s win win. Get an instant quote that won’t affect your credit score. You have nothing to lose.
  • Know what’s what. Fixed interest rate and monthly repayment from the start.
  • Longer loan terms. Available from 1-7 years.
What’s different about a Shawbrook Bank consolidation loan?

Take back control

With a straightforward loan at a fair and guaranteed rate, a debt consolidation loan could save you money in interest every month - and life could be a lot simpler with one monthly payment instead of many. Get a guaranteed personal quote now - with no effect on your credit score.

Take Back Control

Representative Example

The rate you are offered will depend on your individual circumstances.

All loans are subject to status. The interest rate offered will vary depending on our assessment of your financial circumstances and your chosen loan amount.

Representative Example: for comparison purposes 14.9% APR Representative Fixed based on a loan of £10,000 repayable over 60 Months. Monthly payment of £232.53 total amount repayable £13,951.80.

Need help?

We’re standing by to help with your application.

Call us on 0345 600 6260

Opening Hours (Exc. Bank Holidays)
Mon - Fri 9am - 5.30pm
Sat 10am - 2pm
Sun Closed

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