Frequently Asked Questions About Personal Loans.

Applying for a loan

Who can apply for a Halifax Personal Loan?

Personal Loan

If you're a Halifax current account customer of at least 1 month, you can get a personalised quote and apply in Online Banking.

If you don’t have a Halifax current account, you can apply online and could get an instant decision.

Clarity Loan

If you're a Halifax current account customer of at least 1 month, you can get a personalised quote and apply in Online Banking.

Compare our loans.

A decision to offer you a loan is based on your individual circumstances.

You can apply for a loan if you:

  • are aged 18 or over
  • are a UK resident (excluding the Channel Islands and the Isle of Man)
  • are in paid employment, or have a regular income
  • are not in full time education
  • have not been declined for credit in the last month
  • do not have a history of bad credit.

What information may I need handy when completing the online application form?

  • Your address details for the past 3 years
  • Your current employer's name and address if in employment
  • Your monthly income and monthly outgoings
  • Your UK current or building society account details.

How quickly can I get the money?

If the loan is being paid into your Halifax current account, you should receive the money instantly. In a small number of cases, money will be received up to 72 hours from when the loan documents are signed.

If the loan is being paid into another current account, you should have the money within 5 working days from when the loan documents are signed.

How quickly do I get the decision?

In most cases we offer instant decisions, but occasionally we require further information before we complete your application.

When will I have to make my first repayment?

Your first repayment is due within one month from the date we provide the loan to you. However, if you choose a monthly repayment date which is within 9 days of us providing the loan to you, your first repayment will be due on that date in the following month. We charge interest from the date we provide the loan.

Understanding loans

What is a "Representative APR" ?

The representative APR (Annual Percentage Rate) is the rate that most of our customers applying as a result of an advertisement are likely to receive. It's a way to compare the interest rates for different providers. Actual rates may vary depending on personal circumstances and we'll let you know your personal loan rate during the application process.

What is credit scoring and how do you use it?

Credit scoring is a method most lenders use to assess whether they'll lend you money. We'll score the information you provide on the application form, with other factors such as your employment history and how you manage other accounts with us.

We also use other information from the credit reference agencies such as Experian, Equifax or Callcredit, who keep records on your borrowing and payment habits. This includes details on how much credit you have outstanding as well as information on how many missed or late payments you may have made.

If you have a number of missed or late payments you may be considered as 'high risk' and we may refuse to offer you a loan, or we may still offer you a loan but at a higher rate of interest.

If you're concerned about your credit rating you can register online for a credit report with any of the credit reference agencies.

More information on credit scoring and how we use it.

Managing your loan

Can I make additional payments?

You can make additional payments to your Halifax loan. This will reduce the interest you’ll pay and may reduce your loan term. Remember to continue making your monthly repayments, even if you make additional payments.

I’m a Halifax current account customer

You can sign in to Online Banking and make an additional payment by selecting your loan from the account overview page. Payments can be made online from a Halifax current or savings account.

If you're not yet registered for Online Banking, why not register today? It only takes a few minutes and you'll be able to sign in as soon as you’ve registered.

Alternatively you can call us on 0345 604 7292 (lines open 8am-10pm, 7 days a week) or call into your local branch.

I don’t have a Halifax current account

If you don’t have a Halifax current account, you can make additional payments over the phone. Call us on 0345 604 7292 (lines open 8am-10pm, 7 days a week). Payments can be made over the phone from any UK current account or building society account.

Can I repay my loan early (Early settlement)?

You can repay your loan in full at any time. Please note that while we don't charge for additional repayments or early settlement for Clarity Loan customers, an early settlement adjustment may be made on our other loan products.

How do I find out how much is outstanding on my loan?

If you're an existing Online Banking customer, you can view your current loan balance online, however please be aware that this may not be the amount you need to repay if you want to settle your loan early. If you want to settle your loan early, you can request an early settlement quote in Online Banking.

Alternatively, to find out the outstanding balance on your personal loan just call our Customer Services team. They’ll be able to give you your final settlement figure.

Contact us

What if I can't repay my loan?

If your circumstances have changed and you're struggling to repay your loan, please call us in confidence.

You cannot miss a payment and 'catch up' the following month. If you miss a monthly payment, or are late in making a payment, your loan will be transferred to our Collections Team and you will be charged a fee of £25. Details of the missed/late payment will be registered with a credit reference agency and could affect your credit rating.

If you’re finding it difficult to make your monthly payment, our Money Management team is always on hand to offer advice – simply call them on 0808 145 0379 (lines open 8am - 7pm Mon - Fri and 8.30am - 3pm Sat).

If needed, they can hold a full financial review with you, offering information and suggestions on how they think you could save money.

Please note however that the Money Management team cannot change or defer your loan payment date or amount, and are not in a position to discuss the current terms and conditions of your loan.

What should I do if I’m in arrears?

If you're already in arrears and are still struggling with your borrowings please call us.

If you still need further advice, the following organisations should be able to answer your questions and suggest suitable courses of action.

Citizens Advice Bureau
PayPlan (0800 917 7823)
Stepchange Debt Charity (0800 138 1111)
National Debtline (0808 808 4000)

Can I borrow more?

Yes, you could apply to borrow more money at any time.

If you refinance existing debts, you may pay a higher rate of interest or make repayments over a longer term, so you may pay more interest overall.

You can either:

  • take out an additional loan that you will repay separately to your existing loan
  • close and replace your existing loan with a new larger one. This means you’ll have just one monthly repayment.

Please note: When we calculate the amount needed to repay your existing loan in full, we may include up to 58 days’ interest. This early settlement adjustment does not apply when refinancing a Clarity Loan or Personal Loan with us.

If you’re a Halifax current account customer, you can either sign into Online Banking or call us to apply to borrow more money.

If you don’t have a Halifax current account, you would need to apply online to take out an additional loan. Alternatively, call us if you want to close and replace your existing loan with a larger one.

Loan agreement starts with

Call us

Write to us

7/

0345 604 7292

Lines open Mon-Sun: 8am-10pm

Halifax Settlement Department
PO Box 548
Lovell Park
Leeds
LS1 1WU

84 or 15

0345 724 3444 - option 2, then option 2

Lines open Mon-Fri: 8am-8pm Sat: 8:30am-6pm Sun: 9:30am-5:30pm

Halifax
Charterhall Drive
Chester
CH88 3AN

100 or 77

0345 604 7292

Lines open Mon-Sun: 8am-10pm

Halifax Personal Loans Service Centre
PO Box 43
Peterlee
SR8 2RS

7/


Call us

0345 604 7292

Lines open Mon-Sun: 8am-10pm

Write to us

Halifax Settlement Department
PO Box 548
Lovell Park
Leeds
LS1 1WU

84 or 15


Call us

0345 724 3444 - option 2, then option 2

Lines open Mon-Fri: 8am-8pm Sat: 8:30am-6pm Sun: 9:30am-5:30pm

Write to us

Halifax
Charterhall Drive
Chester
CH88 3AN

100 or 77


Call us

0345 604 7292

Lines open Mon-Sun: 8am-10pm

Write to us

Halifax Personal Loans Service Centre
PO Box 43
Peterlee
SR8 2RS

If you’re an existing Halifax customer and want to apply for a new loan please call 0345 724 3444option 1.
Lines open Mon-Fri: 8am-10pm, Sat; 9am-6pm, Sun: 09.30am-5.30pm.

All new and existing Halifax customers
If you need more information about applying for our Personal Loan, please call 0345 720 3040.
Lines open 24 hours a day, 7 days a week.


Making sure you get a fair deal

We want you to find a product that’s right for your circumstances, which is why we adhere to the Standards of Lending Practice, which are monitored and enforced by the Lending Standards Board.

To find out more you can read the statement of responsibilities, which details what’s expected of us, the lender and you the borrower.

Download the statement of responsibilities.


Loans are provided by Halifax. Halifax is a division of Bank of Scotland plc. Registered in Scotland No. SC327000. Registered Office: The Mound, Edinburgh EH1 1YZ.