How does debt consolidation work?
A lender pays off your existing loans (personal loan, car loan, revolving credit, even a mortgage) and replaces them with a single loan. Your monthly payment is recalculated according to your budget, usually over a longer term.
Note: extending the term lowers the monthly payment but increases the total cost of credit. Your adviser shows you both figures so you can make an informed decision.
Who is it for?
- HomeownersConsolidation of mortgage and consumer loans together.
- TenantsConsolidation of your consumer loans.
- An extra projectOption to include extra cash for a new project.
- Tight budgetReduce your monthly payments to free up some leeway each month.
How it works
Debt consolidation: the steps
- STEP 1
Your loans
List your existing loans and their monthly payments.
- STEP 2
The review
We analyse your budget and the cost of the solutions.
- STEP 3
The proposal
New monthly payment, term and total cost, with full transparency.
- STEP 4
Consolidation
The lender pays off your old loans, and you are left with just one.
Good to know
What you need to know before committing
Amounts and terms are indicative, subject to approval of your application by the lender.
- Watch the total costA longer term increases the total cost: always compare the monthly payment and the overall cost.
- Possible penaltiesEarly repayment of a mortgage may incur penalties, capped by law.
- Legal periods14-day withdrawal period for consumer credit, 10-day reflection period if the consolidation falls under mortgage rules.
Does debt consolidation lower the total cost?
Not necessarily. It mainly lowers the monthly payment. If the term is extended, the total cost generally increases. It can fall if you consolidate high-rate loans (revolving credit, for example) without extending the term too much.
Can I include extra cash?
Yes, it is possible to include an additional sum to finance a new project, within the limits of your ability to repay.
I’m a tenant – can I consolidate my loans?
Yes. Tenants can consolidate their consumer loans. Homeowners can also include their mortgage, which often allows a longer term.
Our other solutions
Another project to finance?
Personal loan
A sum you can use freely, with fixed monthly payments throughout the term.
Learn more →Car & motorbike loan
New or used vehicle. The loan is cancelled if the sale does not go ahead.
Learn more →Mortgage
Main home, second home or buy-to-let: rate, insurance and guarantees negotiated.
Learn more →Home improvement loan
Renovation, extension, energy upgrades: add value to your home.
Learn more →Business financing
Start-up, growth, equipment or cash flow for entrepreneurs.
Learn more →A project to finance?
Apply online. An adviser will get back to you within 24 working hours.