Why risk your home?
Debt consolidation loans help bring together all your loans, but the last thing you want is to tie yourself into a worse position than you are already in. If your credit is already defined as adverse, there is a strong possibility that you will be paying a much higher rate of APR and would also have to pay a considerable penalty should you wish to settle early. This early settlement fee can cost you several thousand pounds!
Should you really be consolidating your unsecured debts into a secured debt on your house? The moment you do this you are removing a number of options you have to legitimately deal with unsecured debt. It really depends upon how much you are borrowing and how much equity you have in your property, but an IVA may be a vastly better option for you.
The utopian position is when you can put all your unsecured loans into one large unsecured consolidation loan, particularly if the rate is comparable or better than what you have already. If your consolidation loan offer is anything other than unsecured it is advisable to seek debt advice guidance before proceeding.