Nationwide Debt Consolidation Loans

If you’ve found maintaining loan repayments a struggle due to growing debt issues, this can leave you searching for a way to ease this burden quickly. A debt consolidation loan could be the finance product you need to achieve this, helping turn multiple debts into one manageable repayment. There are many lenders able to help you do this, with one option being a Nationwide debt consolidation loan among many other alternatives. Here at Debt Consolidation Loans, we can help those in your situation find suitable lenders willing to provide flexible and affordable terms.

As a debt consolidation broker, we can connect you to options from our panel of lenders, helping you spend much less time searching and more time finding a solution. On this page, we’ll help to show what’s involved with a Nationwide debt consolidation including the interest and terms available, helping you to compare and make a considered decision.

  • Our multiple years of finance industry experience help you make a smart choice
  • We can connect you to a wide panel of suitable lenders, each FCA approved and trusted
  • Online application that’s quick and simple to use
  • Various credit histories considered, including bad credit
  • DCL are FCA authorised brokers of debt consolidation loans
A bank worker explains to a young couple about Barclays bank debt consolidation loans

Our personal, human approach to the application process ensures as a customer you are treated fairly. We provide the information for you to make a fully considered and informed choice when looking to consolidate your debts. With a trusted panel of lenders, a fast application process and flexible repayment options to choose from, you can find an alternative solution through us.

To start an application and see your lender offers, you can apply online now, with our team ready to help when you need us.

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 Nationwide Debt Consolidation Loan?

Different to the other high street lenders, Nationwide are a building society that provides member-only products. They are owned by their members who are anyone that holds a banking product with them, from current accounts, savings to personal borrowing. Becoming Nationwide back in 1970, this was a result of a merger between approximately 250 other building societies, starting from the Co-operative Permanent Building Society that opened in 1884. Since then, customers have been able to find similar options to the banks, including a Nationwide debt consolidation loan.

This works similarly to a personal loan but instead is designed to turn multiple debts into one to make repaying what you owe much more manageable. At Debt Consolidation Loans, we can help those in need do the same, putting you in contact with multiple lenders at once without you having to spend time searching online. Why have multiple creditors when you can consolidate into one?

Nationwide Debt Consolidation Loan Rates & Terms

The way it works with a Nationwide debt consolidation is that if approved, you can pay off your debts and take back control of the situation. Nationwide offer 2.9% APR Representative (fixed) with this form of unsecured loan, for any amount between £7,500 and £25,000. The repayment terms available are between 1 and 5 years, although longer-term options are available for up to 7 years depending on individual circumstances.

To be eligible for a Nationwide debt consolidation loan, applicants must be an existing member, meaning having at least one of their products, such as a current account, savings, or a mortgage. Other requirements include being between 18 and 79 years of age and receiving a monthly income of at least £700 after tax. Another option they provide is for homeowners, where a nationwide mortgage debt consolidation can be applied for. This is where existing mortgage customers can borrow up to 85% of the value of their home, helping to settle other debt products in a similar way.

Whilst they cannot guarantee you will be approved, having a poor credit rating may make being successful difficult. When applying for debt consolidation through us, we can welcome applicants looking for bad credit debt consolidation. This means if you can afford the repayments required, you could be successful with one of our panel of lenders. If you are over 21 years of age no matter where your current account is currently held, we have FCA approved options that could help you consolidate your debts quickly.

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 Nationwide Debt Consolidation Loan

When looking to apply for a Nationwide debt consolidation loan, you can do so through their website, as long as you are a member. They’ll provide a quote for the amount you need and also provide an acceptance indicator, where they will let applicants know before a credit check if they are a suitable candidate. If approved, the loan can be transferred quickly within a few hours, or 3 to 5 days if transferring to another bank account not held with Nationwide. They require address history for at least 3 years and full details of your income and outgoings. This is the same if applying for a Nationwide debt consolidation mortgage too.

Part of the conditions with the building society is not having been declared bankrupt or have any CCJ or IVAs against your name. Here at Debt Consolidation Loans, we can help those even with bad credit find options. So, if you have had arrears, defaults or even a CCJ, this doesn’t necessarily mean you will be declined. You will need to prove you can afford the repayments on offer from our panel of lenders, so reviewing your finances before applying can help ensure you can afford the debt consolidation.

Choose DCL Today to Consolidate Your Debts

If flexible repayments, a fast application, and the choice of multiple trusted lenders sound ideal to you, the team at Debt Consolidation Loans can look to help. Whether you require a joint application or debt consolidation to cover credit card debt, we can find suitable options for you online. We don’t use automated decision making when considering applications, ensuring the human approach is taken to find you a suitable lender option. This means no matter your credit history, you won’t be rejected just for having bad credit. We take the time to consider each individual applicant and match them with the right lender loan.

We cannot guarantee any applications, so we will still decline those that cannot afford the debt consolidation or would fall further into financial difficulty. If you are successful and we can pair you to an approved lender as brokers, you’ll be able to select repayments and terms suitable for your budget. To find out more, click apply now. If you have any questions, please contact us directly, or browse our FAQs for answers to many common queries we receive.