What it means to consolidate
If you currently service multiple debts — credit cards, personal loans, store cards, overdrafts — at varying rates and on different dates, debt consolidation replaces all of those with a single loan from us at our flat 1.5% APR.
You make one payment, on one date, at one transparent rate. The total interest you pay drops dramatically. The cognitive load drops with it. Your credit utilisation typically improves over time as the consolidated balance is paid down.
Who this loan is for
- Borrowers servicing 3+ debts across credit cards, store cards, and personal loans
- Individuals struggling with high APR rates that prevent meaningful principal repayment
- Households whose monthly repayments have become unmanageable across due dates
- Self-employed people with seasonal income who need predictable monthly outgoings
- Borrowers exiting debt management plans into structured, transparent repayment
- Anyone whose debt is preventing them from saving, investing, or planning ahead
I was paying over £900 a month across four credit cards and barely making a dent. Consolidating with ASAF means I pay £540 a month, all in. I'll be debt-free in four years.
How consolidation actually works
You apply for a loan equal to the total balance of the debts you wish to consolidate. After your application is approved, we settle the existing creditors directly on your behalf — you do not have to coordinate the closure of each account yourself.
From that point onwards, you make a single monthly repayment to ASAF Lending at our flat 1.5% APR. Because you are no longer paying the previous high rates, the same monthly outgoing now reduces principal much faster.
You can repay the loan in full at any time without penalty. Many of our debt consolidation borrowers do exactly that, accelerating their path to debt freedom as their financial position improves.