We may be able to offer you a new, or restructured, Personal Loan. This could help make your debt more manageable and affordable.
Our loans are subject to status, affordability and applicable terms and conditions.
How would restructuring your borrowing work?
- You apply to replace your existing debts – including credit cards, loans or overdrafts with a Personal Loan
- If this is approved, you’re offered an interest rate based on your personal circumstances, the loan amount and term (representative 3.3% APR for loans between £7,000 and £30,000) Credit is subject to status,
- You begin making set monthly repayments.
What you need to consider
If you’re applying to use a loan to replace your other debts, it’s important to consider not just the interest rate and monthly repayments, but also the term of the new loan compared to the remaining term of your existing debts.
Spreading your repayments over a longer term could mean you end up paying more overall, even if the interest rate on the new loan is lower than the rate(s) on your current debt.
If you’d like to see an example of what your payments could be, use our calculator.
How to apply
You can apply online here, via our App, or call us on 03 456 100 100.