Combining your loans

Why is it wise to combine several loans into one new loan?

Clearer

You may have several financial obligations running at the moment. By combining those loans into one new loan, you know exactly where you stand.

Do you really save?

That depends on what you pay now. If you pay high interest on a credit card, a store card or an overdraft, one loan at a lower rate can make a difference. Do watch the term: a lower monthly payment over a longer period can cost more in total. We work that out for you in advance.

Expensive lenders

Some lenders charge the legal maximum. That maximum was lowered from 14% to 12% on 1 January 2026, because it moves with the statutory interest rate. If you pay that rate, your instalment is almost all interest and you barely repay anything.

Which lenders should you think of?

Think of instalment payments at web shops, store cards, credit cards and going into the red at the bank. Buy-now-pay-later services add up the same way. They are all forms of borrowing, and often at a far higher rate than you think.