Rolling your debts into one loan usually lowers the monthly payment. It can also raise what you pay in total. This shows you both numbers side by side, with equal weight - because most calculators quietly hide the second one. No sign-up to see your result.
Add your current debts (up to five), then the single consolidation loan you're weighing up. I'll show what changes for your monthly budget and what changes over the full term.
Want both numbers in your inbox? I'll email your breakdown - including the shorter-term version, which often keeps most of the monthly relief for far less of the extra cost.
This calculator provides estimates only, based on the figures and assumptions you enter (principal-and-interest repayments; each current debt assumed to keep its current rate and monthly payment until cleared; the consolidation loan modelled at the single rate, term and fees you enter, with fees rolled into the loan). It is not an offer of credit, a quote, or financial advice, and doesn't account for your full circumstances or all fees and charges. Lending criteria, fees and rates vary by lender and change over time. Talk to us for an assessment based on your situation.
Consolidation almost always makes the monthly number look better - one payment, usually lower than the sum of the ones you're juggling now. That relief is real, and if cashflow is tight month to month, it can be exactly what keeps everything on track. That's a valid reason to do it.
The total-cost number is the one most calculators leave out. When you take a debt you would have cleared in two or three years and spread it across ten, fifteen or twenty-five, you pay interest for much longer - often enough to cost more overall, even at a lower rate. Both numbers are true at once. You're trading total interest for breathing room, and the only mistake is doing it without seeing the trade.
The consolidation term does most of the work here. A shorter term keeps the total cost down and gets you debt-free sooner; a longer term frees up more cash each month. There's no universally right answer - it depends on which pressure you're solving. Try a couple of terms above and watch both numbers move.
Rolling unsecured debts (cards, personal loans) into your mortgage secures them against your home and, on a standard 25-30 year term, is where the total-cost gap gets widest. Sometimes it's still the right call. It's worth modelling properly first - which is what the debt consolidation service page walks through, and what I do with clients before anything is recommended. If you're weighing this up alongside a rate change, the refinance savings calculator and the home loan health check are the natural next steps.
I'll model consolidation both ways against 40+ lenders and tell you straight whether the trade stacks up - including if staying as you are is the smarter move. Obligation-free, and no fee charged to you.
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