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What is a consolidation loan?

You’ve come to the right place to learn exactly what a consolidation loan is:

  • Consolidation loans are usually taken in order to put multiple credit into one place. 

  • If you have bought things for your home on credit, have store cards and several credit cards with outstanding balances, then you could consider a consolidation loan. 

  • Instead of juggling several credit repayments each month, a consolidation loan could help make your finances more straightforward as you'll only be making one repayment a month.

  • Nemo Personal Finance provides secured loans for homeowners. Secured loans can be used for consolidation.  

  • If you're a homeowner with a mortgage, then you could borrow from £7,500 - £200,000 over 3 to 25 years.

  • Use our secured loan calculator to work out what your repayments could be if you consolidate all your existing credit into one place.

  • For more information on how you could rearrange your existing credit repayments, please visit our consolidation loans page. 

  • Nemo's Typical rate is 12.2% APR variable. 

  • Consolidating your debt may increase the amount you pay back overall and extend the repayment period for your debts. 

Secured loans from Nemo are for personal purposes only. Nemo does not provide secured loans for investment or business purposes. A Nemo loan is secured on your home and is for homeowners with a mortgage only. All loans are subject to status. Early repayment charges apply to the Nemo loan.

Calculate your repayments

Use the sliders or enter the amount you wish to borrow and the term over which you would like to repay into the boxes then click 'calculate repayments' to find out what your repayments could be.

Nemo Personal Finance

© 2013 Nemo Personal Finance Ltd. All rights reserved.

Authorised and regulated by the Financial Conduct Authority for arranging general insurance.

Registered in England and Wales No. 5188059.

Registered office:
Principality Buildings Queen Street Cardiff CF10 1UA

Nemo is a member of the FLA (Finance and Leasing Association) and follows its Lending Code.

Calls may be monitored or recorded for training, compliance and evidential purposes.

A Nemo loan is secured on your home and is for homeowners with a mortgage only.

Repaying borrowing over a longer term will increase overall interest charges.

If you settle your loan early an additional interest charge may arise calculated under the Consumer Credit Act.

Nemo does not provide homeowner loans for business or invesment purposes.

All loans are subject to status.