How this calculator works
This calculator uses the standard loan repayment formula to work out a monthly payment from three inputs: the amount you want to consolidate, an interest rate, and a term in years. Switching between "Secured loan" and "Remortgage / further advance" simply changes the rate and term to the illustrative figures for each route (7.9% over 15 years for a secured loan, 5.4% over 20 years for a remortgage or further advance), which you can then adjust to explore other scenarios.
The total repayable figure shows what you'd pay in total over the full term if you made every payment as scheduled and never overpaid. It's always shown next to the monthly payment so you can see both sides of the trade-off: a lower monthly payment usually comes from spreading the same amount over more years, which increases the total interest paid.
Why the numbers might surprise you
It's common to see the monthly payment fall sharply when moving from several credit card and loan payments onto one secured loan or mortgage-linked payment, because unsecured rates (commonly 20% to 30% on credit cards, low teens on personal loans) are usually well above secured lending rates. What can be less obvious is that the total repayable over 15, 20 or 30 years is often more than the amount originally borrowed, because interest keeps accruing over a much longer period than the 3 to 5 years a credit card or personal loan might otherwise have taken to clear.
Neither number on its own tells the whole story, which is why we always show them side by side. If a lower monthly payment matters most to your situation right now, that's a completely reasonable priority. If minimising total interest matters more, a shorter term or a smaller amount consolidated might suit you better. A broker can talk through both.
What this calculator doesn't do
This tool gives an illustrative estimate only. It doesn't check your eligibility, your available equity, or what rate you'd actually be offered, all of which depend on your circumstances, your property and the lender. It also doesn't include any arrangement, valuation, or broker fees that might apply. For a picture based on your actual situation, the next step is to check your options, which takes about 30 seconds and will not affect your credit score.
Risk warning: THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERM OF THE DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY. IF YOU PROCEED WITH A MORTGAGE APPLICATION, THIS CAN AFFECT YOUR CREDIT SCORE.