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?

A debt consolidation loan is a personal loan that you can use to pay off other debts such as loans, credit or store cards you currently have.

3.5% 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

Apply for a debt consolidation loan

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.


Representative example

You could borrow £10,000 over 48 months with 48 monthly repayments of £223.32. Total amount repayable will be £10,719.36. Representative 3.5% APR, Annual interest rate (fixed) 3.45%.

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.

Get started

Stack of coins on blue background

1. 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, as 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.
Table of debts with a total amount

2. 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 have any current borrowing where you do not pay interest, such as a 0% credit card, remember, if you move this into a loan you will pay interest. Decide which of your debts you want to bring together and add them up to give you the total you plan to move to a debt consolidation loan.

Toy blue train on a wooden track

3. Move forward with a debt consolidation loan

Pop your borrowing total into our Personal Loan calculator and select how long you’d like to repay it over to give you an idea of what your monthly repayments could be.

Loan Calculator

Apply to get on the right track

It’s easy to apply to get on the right track with your borrowing today. 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 £35,000
  • 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. You can then pay off your existing debts.

It’s quick and easy to get started today. Tap ‘Apply Now’ to log-in and apply through the loans calculator.

Apply Now

Alternatively you can call us on 0345 604 7292 (Lines open 8am–10pm, 7 days a week) or visit your local branch. We’re here to help and give you guidance on debt consolidation and getting debt-free faster.

I don’t have a Halifax Current Account

  • You can apply for between £1,000 and £25,000
  • Choose to make your monthly repayments over 1 to 7 years.
  • It takes about 10 minutes to apply online and get a decision.
  • If we approve your loan you should have the money in your account within 24 hours. In some cases it may take a bit longer to have the money in your account - but no more than 5 working days.

Apply to get on the right track with your borrowing today. Tap ‘Apply Now’ to apply online.

Apply 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).

Debt help & advice

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

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 the Isle of Man)
    • you’re in paid employment or have a 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

    Learn more about loan eligibilty.


    Yes. As our debt consolidation loans are personal loans, they are unsecured. This means that the loan isn’t linked to your home.

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.