Summary Box

 

        Key information for our Halifax Unsecured Personal Loan from £7,000 to £25,000

 APR

                           8.9% APR Typical

If successful, the rate you will pay is based on your personal circumstances, the time period over which the loan is repaid and the amount you choose to borrow.

Interest Rate Ranges

Loan size                      From %           To %                   Representative

range                              APR                APR                     APR

£7,000 - £14,999          8.9%               15.9%                  8.9%

£15,000 - £25,000         9.9%              16.9%                  9.9%

Interest Charging InformationThe interest rate is fixed and guaranteed for the life of the loan. Monthly interest is charged on the balance of your loan account and added to your loan account on the day before your payment date each month. We also charge interest in this way between the start of your loan and your first repayment.
Repayment InformationPayment is by Direct Debit. The first repayment is due three months after the date the loan has been opened, repayments are then monthly until the loan is repaid. Repayment holidays are not available on your loan.
Repayment PeriodYou can choose to repay your loan over 2 to 7 years.
Amount of Loan AvailableLoans are available from £7,000 to £25,000.
Arrangement FeeThere is no arrangement fee.
Other FeesIf you choose the optional courier service to receive your loan agreements, £70 will be payable one month before your first repayment.
Default Fees

The following charges will be made if any of the following actions have to be taken: Failed Direct Debit: £25; Letter requesting payment or telephone call to home or business: £10; Pre-default notice: £30; Default expired: £50; Issue of solicitor's letter; instruction of agency to collect the balance; instruction to solicitor to issue court proceedings or instruction to obtain new address: £50.

Early SettlementThere is no charge for settling your loan early, but the amount you agree to pay us when you take out your loan includes interest charged to the end of the loan term. On early settlement you will not have to pay all of this interest as you're entitled to a statutory rebate of some of the interest. In practice this means that you'll pay up to 58 days' interest.
Illustrative Example

Loan

Amount

£ 7,000

£10,000 

£15,000

Representative

Rate

8.9%

8.9%

9.9%

Term**

 

36 months

60 months

60 months

Monthly

Repayment

£224.49 

£208.61

£320.21

Total

Payable

£8,081.64

£12,516.60

£19,212.60

**Please note that the term of your loan will be slightly greater than the number of monthly repayments shown above due to the three month deferred period at the start of your loan.

 

Lending Criteria

Applicants must be aged 18 or over and living in the UK.  Credit facilites are subject to status.  Personal Loans are not availabe to non-Halifax customers aged 18 or 19.

Security

If you are in breach of your loan agreement we may take any money you owe us from any other accounts you have with us which have a credit balance, including a joint account, providing the conditions allow and there are sufficient funds.

Loan Update

You can at any time request in writing a statement of account or a copy of your loan agreement.

Commission

If we arrange insurance cover to protect your loan repayments, we (or any member of our Group) will receive commission and we will keep any commission which we (or they) get in connection with the insurance which we (or they) arrange.