Lloyds Bank Debt Consolidation Loans

If you have a number of different creditors you are currently trying to maintain, but finding it difficult having multiple repayments each month, a debt consolidation loan can help. As we are debt consolidation brokers, we are in a unique position to help those who need to consolidate their finances get the help they need quickly. If you have already been considering your options, you may have found there are plenty of options available to you, one of which being a Lloyds bank debt consolidation loan.

To help, we have compiled information regarding this high street option including details about the interest rates to expect. We have a large panel of lenders as alternative options, so you can be as informed as possible when making a choice right for you.

  • We have many years of experience providing finance solutions
  • Multiple debt consolidation options from trusted, approved lenders
  • Straightforward, easy online application
  • Bad credit applicants are welcome to apply
  • DCL are FCA authorised brokers following responsible lending guidelines
A bank worker explains to a young couple about Barclays bank debt consolidation loans

We take a personal approach here at Debt Consolidation Loans to ensure your application is carefully considered, even if you have a low credit score. Our service ensures you can find a quick resolution for your circumstances and have contact with your chosen lender as soon as possible.

To get started and see your options to compare with a Lloyds debt consolidation loan, simply click apply now and our team can help with no delay to review your affordability.

Why debt consolidation?

  • Improve your monthly budget
    A debt consolidation loan will enable you to group all your existing borrowing and the monthly repayments are easier to manage.
  • Reduced overall repayments
    A debt consolidation loan could even save you money each month if the interest rate is less than the combined total interest of the previous loans.
  • Improved credit rating
    The simplicity of repaying a debt consolidation loan means that you are more likely to repay the debt on time every month. This will prove you to be a responsible borrower, which will have a positive effect on your credit score.

 

What is a Lloyds Debt Consolidation?

As one of the major high street lenders, Lloyds Bank is also one of the oldest having been around since 1765, being ever-present to help everyday customers, including businesses, receive financial support. Part of the Lloyds Banking Group that includes Halifax and Bank of Scotland, Lloyds Bank provides numerous financial services for customers including bank accounts, loans, mortgages, savings, and credit cards. As they are committed to helping customers not only find new banking options, they also help those who may be struggling to keep their finances in a good place.

A Lloyds bank debt consolidation loan is a type of personal loan designed to help you pay off your other debts. This can be a quick way to resolve any issue you may have with keeping up with multiple lender repayments. If you are looking to have just one lender to repay rather than several, a Lloyds debt consolidation is one of many options to consider.

Lloyds Debt Consolidation Loan Rates & Terms

Lloyds Bank provides a range of options when looking to consolidate, as long as you are over the age of 18 years old, are in paid employment and have held a current account with them for longer than 1 month. A Lloyds debt consolidation loan has a 3.9% APR Representative on any amount between £7,500 and £25,000, although other amounts and terms are available at different rates. You can also choose to spread this between 1 to 5 years depending on your affordability for repayments.

To be considered for a Lloyds bank debt consolidation loan, applicants are required to have a good credit score, meaning anyone with bad credit or a history of CCJs or bankruptcy are not eligible. Here at Debt Consolidation Loans, we are happy to help those needing a debt consolidation loan with bad credit find suitable options. As long as you are over the age of 21 years old, you may discover a lender through us willing to help consolidate your debts.

Why debt consolidation?

  • Improve your monthly budget
    A debt consolidation loan will enable you to group all your existing borrowing and the monthly repayments are easier to manage.
  • Reduced overall repayments
    A debt consolidation loan could even save you money each month if the interest rate is less than the combined total interest of the previous loans.
  • Improved credit rating
    The simplicity of repaying a debt consolidation loan means that you are more likely to repay the debt on time every month. This will prove you to be a responsible borrower, which will have a positive effect on your credit score.

 

How to Apply for a Lloyds Bank Debt Consolidation Loan

Lloyds bank lets applicants apply online as long as they have internet banking set up with them. This ensures only those with a current account at Lloyds can apply for this type of loan. Alternatively, existing customers can apply for a Lloyds debt consolidation in person at a branch or over the phone. In some circumstances, applicants can apply for up to £35,000 and a maximum of 7 years, but this will depend on each individual application.

If approved for a Lloyds bank debt consolidation loan, they are in some circumstances able to credit your current account the same day between 9 am – 8:30 pm. If they can’t, this will usually be before 9 am the following working day. As they can only help applicants with a good credit history, if you do have poor credit, at Debt Consolidation Loans we can help.

Even if you have been declined for borrowing in recent weeks or months, as we take a personal approach to the lending decision process, you may still be successful with your application. We can’t promise same day funding, but the lenders we can connect you with will work quickly to help you resolve your situation fast.

Choose DCL Today To Consolidate Your Debts

When considering your options alongside a Lloyds bank debt consolidation loan, you may find our broker service can make things quick and easy for you. Rather than having to visit the websites of each lender and find the information yourself, we can save you time and get an approved decision quicker. We do not use automated decision making when considering an application, so our team at Debt Consolidation Loans will take the time to review each individual applicant.

Whilst we can help those with poor credit find a consolidation option, we cannot guarantee you will be approved. For example, if you cannot prove you are able to afford the repayments required, we may need to decline your application. As long as you have the means to pay and maintain repayments on the debt consolidation loan you want, there is every chance we can help where possible today. Alongside our transparent terms, no hidden fees and flexible repayment options, we’ll help you find a match to your circumstances and budget.

For more information about debt consolidation loans through us, please contact us with any queries you may have. Alternatively, you can browse our FAQs for some of the most common questions we receive.