Several instalments, several dates, and the month never stretching far enough.
Merging your loans into a single instalment eases the month — and that relief is real. But there is a part they rarely mention, and we mention it before you go ahead.
One instalment, one date
We compare more than 10 partner banks
We do all the sums
Monthly saving and total cost, side by side
At no cost to you
And we say when it is not worth it
The instalment goes down. The total cost, almost always, goes up.
It is the part that rarely appears in the advert. Everything is merged into one loan over a longer term: the monthly instalment falls — sometimes by more than half — but you pay for far longer, and interest builds up over all that time.
We show you both numbers: how much lighter each month gets, and how much more it costs in the end. The decision is yours, but you make it with every figure in view, not just the one that sounds good.
Secured on the house, the risk moves elsewhere
Most consolidations with a lower instalment use the house as collateral. That turns debts which had nothing to do with housing — cards, personal loans, car finance — into debt secured on the property.
If one day you stop paying, what is at risk becomes the house. It is a legitimate trade and often the right one; it is not an innocent one, and we will not present it as such.
When it really is worth it go on
When the sum of the instalments is choking the month, when there is consumer credit at high rates, or when your debt-to-income ratio shuts the door on everything else. That is when the monthly breathing space is worth the cost of the term.
When it is two small instalments almost paid off, it rarely pays. In those cases we say no — we would rather lose the case than put your house up as collateral for a saving that does not change your life.
Find out in 1 minute how much lighter your monthly instalment could be
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