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As you might expect debt consolidation loan rates can vary tremendously from company to company, which is for many reasons which we will address shortly.

First it’s don’t forget to remember that the key reason someone requires such a loan is because they have run into financial difficulties, and they may therefore be deemed a ‘high risk’ customer.

Some people will be high risk than others because of their employment circumstances, bad credit history, etc. Therefore they are likely to be charged a higher loan interest rate.

Other factors which influence debt consolidation loan rates are whether you own your own property, and if you have any equity in it. A company will almost always charge you a higher interest rate should you not have any collateral.