Debt consolidation loan
It might be difficult to imagine from where you are now, but taking control of your existing borrowing can be simple. By bringing it all together in one place with a debt consolidation loan, you could get on track to becoming debt-free.

What is a debt consolidation loan?
This is a personal loan that you can use to pay off your other loans, credit or store card balances.
- 3.9% APR representative on loans of £7,500-£25,000 over 1-5 years
- With a Halifax debt consolidation loan, we could help you manage your finances with:
- one fixed monthly payment
- one firm date for when your borrowing will be paid off
- one fixed interest rate
If you refinance existing debts, you may pay a higher rate of interest or make repayments over a longer term with a debt consolidation loan. This means you may pay more interest overall.
If you qualify for a loan, we'll tell you the rate that applies when you get your personalised quote.
3.9% APR representative for loans of £7,500 to £25,000 over 1 to 5 years
Get started
Apply for a debt consolidation loan
With Halifax it's easy to apply for a debt consolidation loan. The decision whether to offer you a loan, the amount we’ll lend you and the interest rate will all be based on an assessment of your individual circumstances. If you hold a Halifax current account, in most cases we’ll tell you how much you can borrow and if you’re likely to be approved when you get your quote. This won’t affect your credit score. Check out how it works for existing and new customers:
Why choose Halifax?
- Instant decision - Apply in minutes and get an instant decision on your loan when you apply online
- Repayment holidays - Ask for up to two repayment holidays a year (subject to approval). Interest will be charged for the months you don’t make any payments. This means you'll pay more interest overall and your original term will be extended.
- Quick access to your loan - If you have a Halifax bank account, if approved you could have the money in your account in minutes. If you don't have a Halifax bank account, if approved, you should get the money within 24 hours (no more than 5 working days).
Loan calculator
Our loan calculator could give you an idea of monthly payments and APR. Try it now and apply online.
Frequently asked questions
Debt help & advice
If you’re worried about debt, then these help & advice pages may be able to help.
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Our debt consolidation loan is just a personal loan you use to pay off other debts you currently have. These debts could be credit cards, store cards, overdrafts or other existing loans. You’ll then only have one monthly repayment at a fixed rate of interest rather than several different payments at different rates.
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You can apply for a debt consolidation loan if:
- You’re aged 18 or over and live in the UK (excluding the Channel Islands and Isle of Man).
- You’re in paid employment or have regular income.
- You’re not a full time student.
- You haven’t had a request for credit declined in the past month.
- You don’t have a history of bad credit such as bankruptcy or CCJs.
- You’re not applying for any of these reasons.
We will then run a number of eligibility checks based on your criteria to determine whether you qualify for a car loan or not.
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When you apply for your debt consolidation loan, we’ll tell you how much your monthly repayments will be. This is a fixed amount that won’t change. Direct Debit repayments will start the month after you apply. You can choose a date in the month that suits you and change it if you need to.
If you want to, you can make extra payments with no charge. However, if you pay the loan off early, we may charge you up to 58 days’ interest.
If you miss a payment then we’ll try and take it again within 7 days. If we still can’t take payment then we will charge you £25. You may be charged further if you miss more payments. Full details will be provided when you apply.
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Yes. As our debt consolidation loans are personal loans, they are unsecured. This means that the loan isn’t linked to your home.
Get clued up on credit
Confused by credit? Understand more about how credit works, how to improve your score, and how it affects applying for a loan.
Lending and rate are subject to status. Available to UK residents aged 18+.
Loans are provided by Halifax. Halifax is a division of Bank of Scotland plc. Registered in Scotland No. SC327000. Registered Office: The Mound, Edinburgh EH1 1YZ.