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.

  • 6.6% 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. 

Representative Example

You could borrow £10,000 over 48 months with 48 monthly repayments of £236.73. Total amount repayable will be £11,363.04. Representative 6.6% APR, Annual interest rate (fixed) 6.41%.

This representative APR applies to loans of £7,500 to £25,000 over 1 to 5 years. Other terms and loan amounts are available at different rates. If you qualify for a loan we'll tell you the rate that applies when you get your personalised quote. The maximum APR you could be offered is 29.9% APR.

Other amounts and terms are available at different rates.

Get started

Check your finances

Have a look at your regular outgoings versus what’s coming in. This is key to making your debt easier to manage. By doing this, you’ll see what you can afford to pay back each month.

Make changes. To start, which direct debits/standing orders do you need? Are you paying for anything you don’t need like a magazine subscription or gym membership?

Check all your accounts. Do you have any money you can use to pay off some of your existing borrowing? Interest you pay on a loan is usually higher than interest you earn on savings.

Add up your borrowing

How much do you still need to pay off from your current borrowing? And what interest or charges are you paying?

If you move any borrowing that you don't pay interest on, such as a 0% credit card, to a loan, you'll pay more interest. Decide which of your debts you want to bring together. Then, add them up to give you the total you plan to move to a debt consolidation loan.

When adding up your debts, keep in mind there may be early settlement fees added by the lenders of your existing borrowing.

Move forward with a debt consolidation loan

Use our personal loan calculator to get an idea of what you could be repaying each month. Just pop in the total borrowing and the time you'd like to take to repay it.

Loan calculator

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:

I have a Halifax Current Account

  • You can apply for between £1,000 and £50,000
  • Choose to make your monthly repayments over 1 to 7 years
  • Get your quote with no credit searches
  • It takes about 1 minute to get your personalised quote in Online Banking
  • If you’re approved, you could have the money in your Halifax current account in minutes. 

It’s quick and easy for existing customers to apply for a Halifax debt consolidation loan online. Select ‘apply now’ to sign in and get started.

Apply now

Alternatively you can call us on 0345 604 7292 (Lines are open 8am-8pm Monday – Friday and 9am-5pm Saturday and Sunday) or visit your local branch.

I don’t have a Halifax Current Account

  • Use our eligibility checker to answer a few quick questions and find out if you're eligible to apply for a loan
  • If approved, get a personalised rate - with no effect on your credit score
  • It takes only minutes to apply online and get an instant decision
  • You can apply for between £1,000 and £25,000, with monthly repayments over 1 to 7 years
  • If we approve your loan, you should have the money in your account within 2 hours. In some cases it may take a bit longer – but no more than 3 working days.

Check your eligibility now

If you already have a Halifax credit card, mortgage or existing loan, you can also apply by calling us on 0330 123 0678 (Lines open 8am–10pm, 7 days a week).

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 in your account within 2 hours. Sometimes it may take a bit longer - but no more than 3 working days.

Loan calculator

Our loan calculator could give you an idea of monthly payments and APR. Try it now and apply online.

Use our loan calculator

Frequently asked questions

Debt help & advice

If you’re worried about debt, then these help & advice pages may be able to help.

How to consolidate debt

Budget calculator

Money worries

What is persistent debt?

Free independent help & advice

Call us for help

  • 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.

  • 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 several eligibility checks based on your information to determine whether you qualify for a debt consolidation loan, or not.

    Learn more about loan eligibility

  • 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.


    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.

Credit explained

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.