Several debt payments? Homeowners can turn them into one.

  • Combine credit cards, loans and overdrafts into a single monthly payment
  • Keep your current mortgage deal and rate where possible
  • Bad credit considered, and a broker compares both routes for you
Check my options

Quick and secure. Checking your options will not affect your credit score.

A couple at home, talking over a cup of tea
One payment, less stress
Regulated adviceIntroducer to FCA authorised brokersConnect with a qualified adviser
No credit score impactChecking your options is freeYou will receive a quote for free from your adviser
Honest numbersWe always show the total cost, not just the monthlyLonger terms can mean more interest overall
Compare your routes

How much debt do you want to clear?

£20,000
£5,000£50,000£100,000
Repay over
Where you are now

Keep paying as you are

Credit cards at 24.9%, minimum payments only

First monthly payment£615/mo
Total repayable
£60,367
Time to clear
31 years
Why minimums cost so much
Route one

Secured loan

7.9% illustrative rate, your mortgage untouched

Monthly payment£190/mo£425 a month less than now
Total repayable
£34,196
Time to clear
15 years
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Route two

Remortgage to pay off debt

5.4% illustrative rate, one new larger mortgage

Monthly payment£162/mo£453 a month less than now
Total repayable
£29,224
Time to clear
15 years
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Illustrative rates: The rates in this example are fictional and used only to show how the numbers work. They are not an offer. Your actual rate may be lower or higher and will depend on your circumstances, your property and the lender. Consolidating debt over a longer term can mean you pay more interest overall, even if your monthly payment falls. That is where the lower monthly payment above comes from: the same debt spread over more years. Your broker will show you real numbers for your circumstances.

One payment, two routes

Two ways to consolidate debt as a homeowner

An FCA authorised broker compares both for your situation and tells you which, if any, makes sense.

Secured loan

Homeowner loan to pay off debt

A separate loan alongside your existing mortgage, which stays exactly as it is, rate and all.

  • Typically £10,000 to £500,000
  • Terms up to 30 years
  • Your mortgage rate stays
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Remortgage

Remortgage to pay off debt

Replace your mortgage with a larger one and use the extra to clear your debts. Often suits homeowners whose deal has ended or ends soon.

  • One lender, one payment
  • Usually the lower rate of the two
  • Early repayment charges checked first
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How it works

Three steps, no obligation

  1. 1

    Tell us about your situation

    About 30 seconds. Checking your options will not affect your credit score.

  2. 2

    A broker compares your routes

    An FCA authorised broker compares a secured loan and a remortgage for your numbers.

  3. 3

    You decide, with the numbers in front of you

    See the current payments, the new payment, and the total repayable, before you commit to anything.

Check my options Free, no obligation. Checking will not affect your credit score.
Which route suits you

Two routes, two different trade-offs

Neither is better in every case. This is the honest side-by-side your broker will walk you through.

Homeowner loanSecured loan or second charge
RemortgageOne new, larger mortgage
Your existing mortgage rate
Stays exactly as it is
×Replaced by a new rate
Early repayment charge on your mortgage
None, your mortgage isn't touched
?Possible if you're still in a fixed deal
Number of monthly payments
2Your mortgage, plus one payment for your debts
1Everything in a single mortgage payment
Interest rate
–Usually higher than a mortgage rate
Usually the lower rate of the two
Bad credit
Specialist lenders consider missed payments, defaults and CCJs
?Some lenders will, many high street ones won't
Tends to suit
→Mid-way through a deal you want to keep
→Deal has ended or ends soon
Guides

The questions most people ask first

Secured loans

Product page →

Remortgage to pay off debt

Product page →
Browse all 36 guides
Popular questions
Tools and data

Dig into the detail before you decide

Secured loan vs remortgageThe core decision, side by side→ Rates indexSourced secured loan rates, updated monthly→ Lender databaseCriteria, lender by lender→ StatisticsThe UK market in numbers→ GlossaryEvery term in plain English→ All guides36 plain-English answers→

Worried about debt? Get free advice first

If you're struggling, it's worth speaking to a free, impartial debt advice service before you borrow more. They don't sell anything and won't judge your situation.

Checking your options with Equiclear will not affect your credit score.

Common questions

Debt consolidation FAQs

Debt consolidation for homeowners means replacing credit cards, personal loans and overdrafts with a single loan secured on your home: either a secured loan alongside your existing mortgage, or a remortgage that replaces it. The monthly payment often falls, but you may pay more interest overall, and your home may be repossessed if you do not keep up repayments.
Nothing. They're three names for the same product: a second loan secured against your property, sitting alongside your existing mortgage rather than replacing it.
Not if you use a secured loan, since it leaves your existing mortgage completely untouched. A remortgage replaces your mortgage entirely, so your rate would change, and any early repayment charge on your current deal would need to be factored in.
No. Checking your options with us will not affect your credit score. A full credit check only happens later, if you choose to formally apply with a lender.
Often, yes. There are specialist lenders who work with homeowners who have missed payments, defaults or a CCJ. See our bad credit hub for more detail.
Often your combined monthly payment falls, because secured borrowing rates are typically lower than credit card and personal loan rates. But spreading debt over a longer term can mean paying more interest overall, even if the monthly figure is lower. Your broker will always show you both numbers.
No. Equiclear is an introducer. We explain the options and, if you choose to proceed, pass your details to an FCA authorised mortgage broker who gives you regulated advice and arranges the borrowing. We're paid a fee by the broker for the introduction, and it costs you nothing extra.

Ready to turn several payments into one?

Free, no obligation. Checking your options will not affect your credit score.

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