Merge your borrowing into one easy loan with a Debt Consolidation Loan!

Are you paying higher interest rates with other lenders?

Do you have outstanding loans and store cards?

Would you like to reduce your monthly outgoings?

A FAIRshare Loan could help!  FAIRshare’s Debt Consolidation Loan allows members to borrow between £1501 – £7500 over a maximum of 60 months.

A Debt Consolidation Loan could help you pay off your existing credit cards, loans or other outstanding debts with one manageable monthly payment giving you peace of mind that all your commitments have been met.  You may be able to pay off your debt faster saving you money (from loan interest) and you could lower your monthly payments.    34.5% APR

Consolidating debt may mean you will repay the debt over a longer period.  As a responsible lender, we recommend you close the accounts with existing lenders, to avoid the temptation of building up debt again.

To apply for a Debt Consolidation Loan you must –

  • Be a member of FAIRshare Credit Union
  • Be 18 years of age or over

Your application is more likely to be approved if you –

  • Can prove a regular source of income
  • Have not been declared bankrupt within the last 3 years
  • Are not in a Debt Relief Order (DRO) or Individual Voluntary Arrangement (IVA)

Quick & easy to apply

Apply online now for a quick decision or complete an application form & return to FAIRshare.
Processing time will vary depending on demand, but we aim to have made a decision within 72 hours of receiving all supporting paperwork.


Saving as you borrow

Your repayment includes a saving amount, £5 a week or £20 a month is the recommended minimum depending on the loan value, so when you’ve paid back your loan, you’ll have saved money too.

How much will it cost?

With a FAIRshare loan, we work with you to ensure your weekly or monthly repayments are affordable and suit your budget.  The longer the repayment period, the smaller the repayments, but the more interest you will repay overall.  Below are 2 examples, or visit the Loan Calculator for more options –

Borrow £3500 over 59 months
£114.11 a month loan repayment
+ £20 a month savings
Total £134.11 a month
Total cost of credit £3232.40
Total savings after 59 months £1180

Borrow £5000 over 41 months
£196.40 a month loan repayment
+ £20 a month savings
Total £216.40 a month
Total cost of credit £3052.56
Total savings after 41 months £820

Loan Calculator

Representative Example –

Borrowing £4500 over 208 weeks will cost £37.15 a week + £5 a week savings – £42.15 including savings.
Total amount repayable is £7725.55 which includes interest at 34.5% APR (2.5% per month). Rate of Interest for comparison 18.0%.  Total savings £1040 after 208 weeks.

Additional Borrowing

You cannot apply to Top Up your Debt Consolidation Loan, but one additional FAIRshare loan may be available if affordable.

Terms & Conditions

FAIRshare’s standard Terms & Conditions apply to this loan.
In addition –
– Disbursement will be direct to creditors.
– Top Ups are NOT permitted, but one additional loan product (not a second Consolidation Loan) may be available to a member dependent on affordability.