Debt Consolidation Loans
Borrow £3,000 - £25,000 without the risk of your home being repossessed. Straightforward loans from an FCA authorised lender.
A debt consolidation loan from Norwich Trust could combine multiple existing debts into one simple monthly payment, making it easier to manage your finances instead of juggling several repayments. One fixed monthly payment with flexible loan terms of up to 10 years to suit your budget.
Benefits of a Debt Consolidation Loan
Representative Example: £13,000 over 66 months, 34.9% APR fixed. Monthly payment £406.79. Annual interest rate 29.56% fixed. Interest payable £13,649.14. Total repayable £26,848.14, which includes a £199 lender fee.'
Minimum repayment period: 36 months. Maximum repayment period: 120 months. Maximum APR 37.9%.
Debt Consolidation Loan Criteria
Like all lenders, Norwich Trust has some initial criteria applicants must meet before they can apply:
Age
Aged 21 - 70 (under 71 at the end of the loan term)
Location
You must have been a UK resident for at least the last two years.
Employment
You’ll need to have monthly income after tax of at least £1,300 or £1,800 if you’re under 30 years of age to be eligible.
Homeownership
Be the homeowner of a residential property in the UK.
Frequently asked questions about Debt Consolidation loans
A debt consolidation loan can be used to combine multiple existing debts into one single monthly repayment.
Many UK borrowers use debt consolidation loans to pay off:
• Credit cards
• Personal loans
• Store cards
• Overdrafts
• Other unsecured debts
This can help simplify repayments and make budgeting easier.
Norwich Trust offers homeowner loans of between £3000 and £25,000, the amount you can borrow will dpeend on your financial circumstances.
Yes. You can apply online through Norwich Trust Limited using a quick and simple digital application process.
We offer loan terms from 3 to 10 years depending on the amount you borrow.
It may be possible to get a personal loan with a less-than-perfect credit history. Norwich Trust specialises in helping UK borrowers who may have experienced credit challenges in the past.
We do a soft credit search when we check your eligibility which won't affect your credit score and won't appear if other firms do a credit search. If your loan is approved the search will become a "hard search" at which point it will appear on your credit file and may affect your credit score.