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Debt Consolidation Loan Calculator
Please list below the items of credit and other debts that you would like to consolidate:
Item to Clear - This box is to help you list the items of credit or other debts that you may wish to clear with a debt consolidation loan. You may find it helpful to provide the name of who the debt is with and the type of debt. For example: HSBC credit card, Barclays bank loan, overdraft, tax bill, Black Horse car finance, etc.
Balance - Please enter the amount required to clear this item. A total balance for all the items you list will be provided.
Monthly Payment - Please enter here the amount of any monthly payment that you make with regards to this item of debt.
Add Another Item to Clear
Total Balance of all Items
Total Monthly Payments
Loan Requirements
Additional Funds Required - Here you can enter any additional funds that you would like added to the loan facility. For example money for home improvements, vehicle, holiday, etc.
Total Loan Amount - This is the 'Total Balance of Items' (rounded up to the nearest £100) plus any 'Additional Funds' that you require.
Property Used as Security
Value of Your Home - Please enter the approximate value of your home. The debt consolidation loans that we provide are secured against property.
Your Mortgage Balance - Please enter your current mortgage balance, or ‘0’ if you do not have a mortgage or any other finance secured against your home.
Financial Details
Credit History
Please read the descriptions below and indicate whether your credit history is Good, Average or Poor.
Good – A good credit history requires you to have no defaults or County Court Judgements in the last six years. You will also need to have no mortgage arrears in the last two years and to only have a maximum of few late payments on other credit items.
Average – An average credit history would require no current County Court Judgements or mortgage arrears, although you may have had these in the past. You might have an occasional late mortgage or credit payment, but this should not be in the last three months.
Poor – a poor credit history would be where you have current County Court Judgements, mortgage arears, defaults or missed credit payments.

Calculator Instructions

Step 1

Our debt consolidation loan calculator starts by asking you to list the credit items and other debts that you would like to clear.

There are 3 boxes per item:

  • Item to clear – here you can name or describe each item – for example ‘HSBC credit card’.
  • Balance – enter the amount required to clear this item.
  • Monthly Payment – for finance items or debts where you make a monthly payment, here you can enter the amount of the monthly payment.

We suggest that you start by listing all your items of credit, for example bank loans, credit cards, overdraft facilities, personal loans, car finance, store cards, store finance facilities, hire purchase and any payday loans.

You can also add in any bills, such as tax bills, or other debts that you may want to clear up such as arrears on utility bills like gas and electric.

Once you have listed everything, go through the list and decide which items you would like to clear with a debt consolidation loan and which you would like to leave in place.

For example, you may not want to clear credit card balances that have some time remaining on an interest free offer, or other items that are only being charged a small amount of interest.

We have added a ‘delete item button’ so that you can easily remove any items that you decide not to consolidate and leave in place.

Press the ‘Add Another Item’ button to add more items to consolidate.

As you add ‘items’ their balances are added together and displayed under ‘Total Balance Outstanding’, along with their combined ‘Total Monthly Repayment’.

Step 2

Do you require any additional funds?

Once you have entered all the items that you wish to clear you can also add in any additional amount that you may wish to raise.

The debt consolidation calculator will then provide you with a ‘Total Loan Amount’ which is the total consolidation loan amount required.

Step 3

Details of your home property

Our debt consolidation loans are secured on your home, and the interest rates vary with loan to value (LTV). The lower the loan to value then the lower the interest rates that are available.

Please enter your estimated value of your property in the ‘Value of Your Home’ box, together with the amount outstanding on your mortgage in the ‘Your Mortgage Balance’ box.

Step 4

Credit History

Finally, please select the ‘Financial Details’ boxes that are most suited to you. Again the interest rates available do vary according to your credit history.

Once you are happy with your selections, please click the ‘Calculate’ button.


Instant Results

Results are instant and you will see your results page which is divided into 3 sections:

Current Debt

  • Total Balance Outstanding - This illustrates the total balance outstanding of the items you inputted at the start.
  • Current total monthly repayments – the total monthly payment of all the items you inputted.

New Loan

This brakes down the loan facility

  • Additional funds – Any additional funds that you would like on top of what is required to clear all the loan/debt items you entered. These funds can be used for any legal purpose, for example, home improvements, holiday, etc.
  • Total loan amount – This is the total net loan facility and is made up of the total amount required to clear the debt items you entered, plus any additional funds requested. This is therefore Total Balance Outstanding + Additional Funds.
  • Loan to Value (LTV) – This represents the equity in your home when comparing the value of your home with any outstanding mortgage balance plus the amount proposed on this new loan.
  • Annual Interest Rate – This is the annual rate of interest that will be charged on the loan facility.
  • Broker Fee – This is the amount of our broker fee for arranging this loan facility. The fee is 5% of the net loan facility and capped at £1,950. This is added to the net loan amount, along with any lender fee, to give the gross loan amount.
  • Lender Fee – This varies from lender to lender. The lender fee is added to the broker fee to provide a ‘Gross Loan Amount’.

Loan Options

This displays loan term options ranging from 3 years to 25 years.

The monthly repayment is displayed for each year along with the total payback figure and the APRC (Annual Percentage Rate of Charge).

Please note: These figures assume the loan runs full term and interest rates remain unchanged throughout the term of the loan.

There are two buttons at the bottom of the results:

  • Edit Calculation – This takes you back to the calculator input form. Here you can make amendments and then calculate again and again, there is no limit.
  • Apply Online – Takes you to our online application form for secured loans

Print Results – You can print the calculator results

Email Results – You can email the calculator results to yourself

The Debt Consolidation calculator will provide you with an overview of the various costs and interest rate charges associated with the loan.

It will provide figures based on our most popular plans and the level of accuracy of the quote will depend on the figures and information that you have input.

Calculated Results
Current Debt
Total Balance Outstanding Total Balance Outstanding - This is the total amount owed based on all the items that you listed rounded up to the nearest £100. £ 0
Current Total Monthly Repayments Current Total Monthly Repayments - This is the total amount of your monthly repayments for all the items that you listed. £ 0
New Loan
Additional Funds Additional Funds - This is the amount of additional funds that you requested. £ 0
Total Loan Amount Total Loan Amount - The Total Loan Amount is made up of the Total Amount Outstanding + Additional Funds. £ 0
Loan To Value (LTV) Loan To Value (LTV) - LTV is based on the value of your home and the proportion of finance secured on it when the outstanding mortgage balance is added to the proposed new loan (Total Loan Amount). NAN %
Annual Interest Rate Annual Interest Rate - This is the annual rate of interest for the debt consolidation loan. 6.5 %
Broker Fees (5%) Broker Fees - This is the amount of the broker fee. We charge 5% of the loan amount required, which is capped at £1,950. The broker fee is added to the Total Loan Amount together with the Lender Fee to give the Gross Loan Amount. £ 0
Lender Fee Lender Fee - The Lender charges a fee. This is added to the Total Loan Amount and Broker Fee to give the Gross Loan Amount. £ 595
Gross Loan Amount Gross Loan Amount - This figure is the amount of the whole loan facility. It is made up of the Total Loan Amount, which is basically what is released to you the borrower, but also includes the Broker Fee and Lender Fee. £ 595
Loan Options
Term Monthly
Total Payback
(if full term)
3 Years£ 18£ 657inf%
4 Years£ 14£ 6771046352356245736222642111392193543795008292871469698967490791147386806330592927111570407629209865985205004246864599270412519699788730721304475508267485800572518533469462603948888200666419798046325013749095640890073486336445774921707294320571806197418405524503736136781339220246528.0%
5 Years£ 12£ 69932826649652578677318009712687969700624727688059520722451978132864781759774265898221257925788982801894014973110874707821739636363212520338002406182422490483767493438451215260960798057292090813619507906398448134092679796490240.0%
6 Years£ 10£ 720inf%
7 Years£ 9£ 742inf%
8 Years£ 8£ 765350830149473818444457236253390461922847542090750778974261936303419468364294391449940152905187421985164456760648430599579623082816712406400361576042522229263887113530089147687526040689487477877160474879406314824340143227190748775121672233498300803872299415969889192992624894541824.0%
9 Years£ 7£ 78751928416152696400028103452659554068013619762935712356460355189249982442036221923291465275680234374011333951064592130378618492759875145759303279869909846666618505794709043570028845927458642911226232628101044259884753676989161705704547919148657672192.0%
10 Years£ 7£ 81111260271947427276023078282669808646888587070408056395662990177764944207939770638579295990737985613361099927515535277618892360916768515174969606403522960572272509481396425508874300418797998816976940235218184865901439247974400.0%
11 Years£ 6£ 834inf%
12 Years£ 6£ 858inf%
13 Years£ 6£ 883inf%
14 Years£ 5£ 908inf%
15 Years£ 5£ 933129511822472153762187215840222080864435493926665781424725576134991599816005412307917586345424197044150716342873855136867100852819084884137315382064836743851124146896588086287417228491537684701461607331631288898374310474279661774354852604615970334060499614435575613752119454659082659571594701045760.0%
16 Years£ 5£ 95941082007471743134189236867277960324556763115558281489817924066715315539947321769135662621071454213900524276796749657236665680171823700801578671283314340347844874194706411886838668046750096041077771607109871139071076954653194411707245463972227717181584510650473530934920243838976.0%
17 Years£ 5£ 9851948968502739203291126932926136075548063166707888953005341019946699776830199632259087767163051737844903351054283764222726606554493040622901973369617044419293771661834720516111759944664671102367401111060030484677067285938282772573663932085632543359201109436530688.0%
18 Years£ 5£ 1,0116014346834896583985056749539526245786033308540818160477557885548311881296341807155312791989531089508800153934814609721366523306435374812038043895612020292391147641195332377147808774226234529602766071541149505078873374392589905270656447282310807552.0%
19 Years£ 5£ 1,038624716728725402874672611494546976535533086641952991674006770260304296048561435189420023144355171085453242768441415253125066621601468747247571724196146402802146249352235739922870923076534611797599097337441111845560414610891516701310976.0%
20 Years£ 4£ 1,0651288838135250656966855125730421414287064925366176413973241718227614650497778914495007134801715052907889262544209566716981606837386866460718130307212720871182549248681358441157292334988515591021808416779856488939956249559040.0%
21 Years£ 4£ 1,092inf%
22 Years£ 4£ 1,120inf%
23 Years£ 4£ 1,148inf%
24 Years£ 4£ 1,176inf%
25 Years£ 4£ 1,205inf%

The minimum you can borrow is £5,000

Please update the amount you wish to borrow.

We have access to all lenders for the best interest rates
Immediate Decisions and Fast Turnaround
Apply Online
For an accurate quote please call us anytime and we will be happy to provide you with a personalised quotation.
Debt Consolidation Loan Calculator updated on 13th March 2023 to reflect the very latest interest rate changes.

Debt Consolidation Loan Calculator

At KIS Finance we can provide debt consolidation loans that are secured against the available equity in your home as a second charge mortgage. This means that you can transfer your current debts to a lower interest product, allowing you to reduce your monthly outgoings.

We have access to the best interest rates and secured loan lenders, and our broker fees are the lowest on the market.

Using a secured loan for debt consolidation purposes offers a number of important advantages over an unsecured loan or re-mortgaging as a method of consolidating debts and other finance agreements.

You will always speak to an experienced finance expert

  • Loan amounts from £5,000 to £2.5 million
  • Loan terms from 3 to 25 years
  • Fixed rates, discounted rates, and interest-only options available
  • Missed payments, defaults, CCJs and discharged bankruptcies
  • Existing IVAs and Debt Management Plans
  • Access to the whole market and best interest rates
  • Up to 100% Loan to Value
  • Third charge products available
  • Fast service and turnaround – some cases within 48 hours is possible
  • Employed and self-employed applicants accepted
  • Free advice and guidance

What can a debt consolidation loan be used for?

Debt consolidation loans can be used to clear the following types of debt:

  • Personal loans
  • Store cards
  • Credit cards
  • Short term loans
  • Payday loans
  • Car loans
  • Overdrafts (interest typically at 39% pa on these)
  • Family loans
  • HP Agreements
  • Utility Bills (Gas, electric, water) and Utility bill arrears
  • Mobile phone bills
  • Retailer credit
  • Tax bills
  • Payday loans
  • Debt management plans
  • IVAs (Individual Voluntary Arrangements)
  • Mortgage and other finance arrears

What is a debt consolidation loan?

A debt consolidation loan allows you to move all of your outstanding debts to one place by transferring them to a single and more convenient loan facility.

The new loan can be used to pay off your outstanding credit card balances and other unsecured debts, as well as raising funds for other purposes.

You can then pay off the new loan facility in affordable monthly instalments, over a term of between 3 and 25 years. You also have the option to make capital reductions (make extra payments) along the way or just repay the loan early.

This can make managing your debt much easier as you will be consolidating all your debts, or a large proportion of selected debts, into a single, and in most cases, much lower, monthly repayment.

Our debt consolidation loans will be secured against property, which in most cases will be your home.

The pros and cons of debt consolidation loans

Debt consolidation loans offer a number of different benefits, however there are also a couple of things that you need to be aware of. Whether a debt consolidation loan is right for you is dependent on the type of credit that you want to clear and your overall financial situation.

Advantages of debt a consolidation loan

  • Makes debts easier to manage by consolidating them into one monthly repayment with one lender.
  • Reduces the cost of borrowing by transferring high interest debts to a loan facility that has a lower interest rate.
  • Reduces your monthly outgoings by reducing interest charges and repaying your debts over a longer term.
  • Improves your credit rating by clearing up multiple active credit accounts and/or accounts which have gone into default.

Disadvantages of a debt consolidation loan

  • There are fees involved with setting up a secured loan – however these can be added to the loan facility so there are no upfront costs for you to pay.
  • Secured loans are secured against your home – if you cannot keep up with the repayments and no arrangement can be made between you and the lender then your home could be put at risk of repossession.
  • Clearing off short-term credit facilities with a longer-term loan may increase the total amount you wind up repaying.

At KIS Finance, we will assess your full financial situation and conduct an affordability assessment before making any recommendations. We will always ensure that we are putting you in a better financial position before recommending any loan facilities, and specifically when you are consolidating debts with a secured loan.

How do debt consolidation loans work?

Debt consolidation is simply the process of clearing your existing debts with one loan facility. Here’s how it works:

Step 1: Work out how much you need to borrow

Add together all of the outstanding credit facilities that you want to repay – this could be personal loans, credit cards, payday loans, overdrafts, car finance and even bills. This is the amount that you’ll need to borrow to clear your debts. If you need to borrow additional funds for any other purpose, then this can be included too.

Step 2: Consolidate your debts with the new loan facility

Once the new facility is in place, this will be used to pay off your existing debts. Most debts will be cleared by the new lender directly to make the process as quick, easy and stress-free as possible for you.

Step 3: Pay the new loan facility back in monthly instalments

The new loan will be paid back in affordable monthly repayments, over a pre-agreed term. Having one lower monthly repayment will make your debts much easier to manage.

Is a debt consolidation loan suitable for you?

When considering whether a consolidation loan is the right option for you, you need to consider:

1. Affordability

  • Can you afford the monthly repayments?
  • Is your job secure and your income steady and stable?
  • If you are self-employed, is your business doing well and providing you with a stable income?

You need to be able to afford to make your mortgage payments, your new loan payment, any other loans that you have and are not being cleared, as well as being able to live, pay bills, buy clothes and food. As part of the process of applying for a debt consolidation loan we will take you through an affordability check to ensure that you can afford to take on the new payments.

You also need to be sure that you can afford to make the monthly repayments not only now, but in the future, particularly if interest rates were to go up.

If your job is not secure, you should look at other options, for example contacting a debt advisor or contacting your creditors to come to an arrangement that you can afford, and they will accept.

2. Is it a better option?

Will a consolidation loan provide a better option for you in your current situation? You need to consider the advantages of making a significant reduction to your monthly outgoings compared to possibly having to pay back a larger amount in total by extending the term of your borrowing.

3. Your credit history and the equity in your house

To get the best deal on a debt consolidation loan you will need:

Equity in your home

This is the difference between the value of your home and the amount outstanding on any mortgages or loans secured against it.

For example, if a property is worth £500,000 and it has a mortgage on it with a balance of £200,000, then it has (£500,000 - £200,000 = £300,000) £300,000 of equity available in it. This is sometimes referred to as a percentage. In this example there would be 40% equity in the property.

If you are looking to take out a secured loan the balance of your mortgage added together with the consolidation loan, should be no more than 100% of the value of your house. The best rates are available for loans up to 75% Loan to Value (LTV).

Credit history

A poor or bad credit history will not prevent you from having a debt consolidation loan. However, it will affect what plans are available.

The more poor credit accounts that you have, then the greater the risk you will be deemed to be by the lender. The greater the risk, the more chance there is that you may default on the loan and cost the lender money. It works in the same way as car insurance, in that greater risk means higher costs, so in terms of a consolidation loan, the interest rate will be higher.

While it’s true that you may not be offered the best rates and products on the market, we have providers that are able to offer facilities to people who require a little help in getting their finances back on track. Taking out a debt consolidation loan, and keeping up with the repayments, may also help to rebuild your credit profile and hopefully give you access to better rates and terms in the future.

We can offer consolidation loan products in the following situations:

  • You have missed credit card payments
  • You have credit accounts which are in default
  • You have mortgage or other secured loan arrears
  • You have a discharged bankruptcy
  • You are in an active Debt Management Plan or have entered an Involuntary Arrangement (IVA)

Full market access

We have access to all debt consolidation secured loan plans and will find the best deal for you on a loan plan that best fits your circumstances. You may have already used our debt consolidation calculator which will have provided you with a guide to costs.

How Much do Debt Consolidation Loans Cost?

When you take out a secured loan through KIS Finance, there are no upfront costs involved. This means that there is no financial commitment required at any time throughout the application process.

The fees involved in setting up your secured loan will be added to the loan facility instead and you will pay them as part of your monthly repayments.

The set-up fees (which will be added to the loan facility) are:

Lender Product Fee

This is a fee charged by the lender for setting up and arranging your secured loan. This may also be referred to as an Administration Fee or Acceptance Fee.

Broker Fee

This fee is charged by us for acting as your broker and adviser, in setting up and arranging your secured loan with the lender who offered the best deal or most suitable option, based on your individual circumstances and requirements.

At KIS Finance, we pride ourselves in charging the lowest broker fees on the market. Our fee for arranging a secured debt consolidation loan is just 5% of the net loan amount, capped at £1,950.

Valuation Fee

In the large majority of cases, there will be no requirement for a property valuation to be conducted. Most lenders use what’s known as an AVM; an online valuation. When an AVM is used, there are no costs involved.

In a very small number of cases, a drive-by or full property valuation may be required. This may be if you’ve done a lot of renovations to your home and significantly increased the value since you bought it. In these instances, the valuation fee will be taken out of our broker fee so there will be no additional costs for you.

Please note: these are the only costs that will be involved when you take out a secured loan through KIS Finance. Be aware that other costs may be involved if you go through another broker or deal with a lender directly.

What is the Process of Setting Up a Debt Consolidation Loan?

At KIS Finance, our aim is to make the process as hassle-free and as simple as possible for you. We will put everything together on your behalf, and we will be right by your side helping you every step of the way.

  • Make an initial enquiry with us over the phone. Alternatively you can use our online application form and one of our advisors will get in touch with you to discuss your current situation and your financial goals.
  • Once we have reviewed your circumstances, we will then present the different options available and offer our guidance to help you make the decision that is best for you.
  • When you decide that you would like to proceed with the application, we will then put all of the documentation together on your behalf, making sure the process is as easy and stress-free as possible for you.

    We don’t need to meet with you in person as everything can be done over the phone. In order to speed up the process, any documents can be sent back and forth via email.
  • Once our part is done and all processing has been completed, the lender will issue the Binding Mortgage Offer, ready for you to sign and return so that your loan can complete.
  • Once the loan completes, funds will be sent directly to your existing creditors via bank transfer. If there is any existing credit that cannot be cleared directly, the required funds will be deposited into your bank account so that you can make the payment.

Don’t worry if you are not sure if a debt consolidation loan is right for you, our hugely experienced consolidation loan expert, James, is here to help. James will be happy to guide you through your possible options.

James will also advise you if a debt consolidation loan is not a suitable option for you, or if indeed there is another better option that would be more suitable.

Our advisors are finance experts, they are not salespeople. Therefore, you won’t ever experience pressure sales from us. We just discuss and provide the best possible options and then leave it to you to decide if you want to proceed with us.

Debt consolidation loan FAQs

What does debt consolidation mean?

Debt consolidation means clearing all of your existing loans and credit cards with one loan facility. This will make managing your debt easier by moving everything to a single, and usually lower, monthly repayment.

Does a debt consolidation loan involve a soft or hard credit search?

In the initial application stages, a soft credit search will be conducted in order to issue tailored quotations. This will not show up on your credit file and will not affect your credit score. If you decide to proceed with the full application, then the lender will usually conduct a hard credit search before the loan facility is paid out.

Does consolidating your debt affect your credit score?

When you decide to proceed with taking out a debt consolidation loan, the lender will conduct a hard credit search before the funds are released. This will show up on your credit file and could temporarily lower your score. However, keeping up with the repayments and evidencing that you can manage a secured debt will eventually improve your credit profile and may give you access to better borrowing options in the future.

Is debt consolidation a good reason to get a loan?

Consolidating your debts can offer many benefits, including reducing your monthly outgoings, making your debts easier to manage, reducing the cost of borrowing, and improving your credit profile and overall financial health.

When is debt consolidation a good idea?

Debt consolidation could be ideal for you if you have several high interest loans and credit cards and you are looking for a way to make these easier to manage. Consolidating debts to a lower interest product can also reduce your monthly outgoings and save you money in the long run.

Can you get a debt consolidation loan if you are on benefits?

Yes, you may still be able to get a secured loan if you are on benefits and have no other employed or self-employed income.

How long can you get a debt consolidation loan for?

Terms of 3 years to 25 years are available for secured debt consolidation loans.

How much can you borrow with a debt consolidation loan?

The minimum loan amount is £5,000 and the maximum that you can borrow is largely dependent on the value of your property and the amount of equity you have available. Your level of income will also be taken into consideration. Currently the maximum consolidation loan size is £2.5 million, if available equity, credit history and affordability all stack up.

Can I consolidate my debt if I have bad credit?

We can offer debt consolidation loans even if you have a history of poor credit.

Are there any risks of taking out a debt consolidation loan?

We are an FCA (Financial Conduct Authority) authorised and regulated financial broker, and we only deal with secured loan lenders who are also regulated by the FCA.

However, taking out a secured loan is a financial commitment which must be considered seriously. Failing to keep up with the repayments on a secured loan may mean that your home is at risk of being repossessed. However this is in extreme cases and every effort should be made to come to another arrangement first.