Debt Consolidation Calculator
See whether rolling your debts into one loan could lower your monthly repayments, and what it might cost in total over a longer term. Results are illustrative and based on the figures you enter, not financial advice, a quote or an approval. When you're ready, send your results to Christian and he'll talk you through your options.
Using the debt consolidation calculator
List each debt with its balance, interest rate and repayment, or the months left if you know them.
Enter the rate and term of the consolidated loan, and any switching costs such as payout and new-loan fees.
The calculator compares your monthly outgoings and the total cost of repaying now against the consolidated loan.
If a longer term would cost more in total, it says so first.
What it doesn’t include
Whether a lender would approve the consolidated loan.
Fees and charges you have not entered.
The effect on your credit file of closing or opening accounts.
Extra repayments you might make on the new loan.
Questions people ask
Does consolidating debt save money?
It can, but not always. One lower repayment spread over a longer term can cost more in total interest. The calculator shows the monthly change and the total cost side by side so you can see both.
Can I consolidate debts into my home loan?
Often, yes, subject to the lender’s assessment. Short-term debts moved into a long home loan can cost more over time unless you repay them faster, so the structure matters.
Do I need to close my credit cards?
Lenders often require cards being paid out to be closed or their limits reduced. Keeping unused limits open can also reduce your borrowing capacity.
Is debt consolidation right for me?
Consolidation does not suit everyone. Christian can look at your debts and goals and talk you through the options before you decide.
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General information only. It does not take your objectives, financial situation or needs into account.