Then look for some collateral that you would be offering to the lender. Though any of your properties like home, car, vehicle etc satisfies the clause of collateral but since the target is to get the debt consolidation loan at low rate, the value of the collateral becomes more important. Lenders offer the loan at low interest rate if the collateral value is higher as their risk is more covered. So, place high value property with the lender, if you can.

While deciding on the collateral, always remember that the amount you are going to borrow is below the value of the collateral. This will further reduce the risk of the lender and hence will ensure low rate debt consolidation loans.

The loan amount and repayment duration counts a lot in getting low interest rate. Lenders provide debt consolidation loans in the range of £5000 to £70000. Do not take the loan in excess to the debts you intend to pay off. Excessive loan amount may come in the way of low interest rate.

Keep the repayment duration as short as possible. Though low rate debt consolidation loans can be replayed in even 30 years but to carry the loan for such long years means you may infect end up paying higher amount on interest.