It is not unusual today for UK home owners to find themself in a position where are in debt to a number of different creditors and a debt consolidation loan is often the answer.

For example, almost every adult in the UK can look into their wallet or purse to find multiple store cards, credit cards and catalogue account cards, which are just too easy to use.

For many UK home owners, having to make multiple payments to different creditors like these, is time consuming, expensive and inconvenient. They would prefer to consolidate their debts into one debt consolidation loan and have just one monthly payment to worry about.

In the UK, the annual interest rates charged by credit and store card companies is usually much higher than the rates of interest that we can offer on a debt consolidation loan.

A debt consolidation loan from Loanfactory.co.uk can be the answer to the problem of growing multiple debts. All your credit card and store card balances, as well as smaller personal loans can be paid off with a single debt consolidation loan. UK home owners who apply for a debt consolidation loan will find that they are offered a single monthly payment, as well as lower interest rates than they currently pay - not to mention much smaller loan repayments!

The debt consolidation loan is usually payable over a fixed period so it is clear when the loan will be fully repaid. That is one way in which debt consolidation loans differ from repaying credit cards, as with minimum payments, it it almost impossible to work out when it will be repaid and how much interest you will pay by the time the debt has been cleared.

Loanfactory.co.uk employ a team of debt consolidation specialists, who together with our lenders, can deal quickly and efficiently with debt consolidation applications. Loanfactory.co.uk take no up-front fees and we offer a no obligation service. Our consolidation specialists have access to all major UK lenders and will quickly find the best deal to suit your particular requirements.