Finance Choices
Abbey Personal Loans
The unsecured Abbey National Personal Loan is offered at extremely competitive rates; from low amounts, and from a company that's pulling its socks up. Worth investigation.
In the past couple of years Abbey National have had a bad press- things are definitely improving. The site is clear and concise, the unsecured loans are at better rates than the other banks (remember Abbey used to be a building society), and for customers with disabilities, all information is available in Braille, large text, on disc or audio.
The secured Abbey National Personal Loan, though, is a bit cheeky- it's only available to you if you are either lucky enough to be mortgage-free or have an Abbey National Mortgage. That cuts some 95% of the population out of the picture! Equally, a secured loan is only really worth it for life's big purchases- an extension to the house, for example (where you expect to add value to the property anyway!)
For everything else, that leaves the unsecured loan. The unsecured Abbey National Personal Loan is available from £1,000 to £20,000 and an over-the-phone decision is usually available in minutes. Rates compare very favourably with competitors (the Abbey National Personal Loan is the only big-5 bank loan which compares well with the supermarkets and direct lenders), and as with most products, the best rate is reserved for online applicants.
An entirely standard (30 day exclusions) payment protection policy also applies.
Summary
Abbey National Loans have a typical rate of 5.8% APR (for internet loans of £5,000 or more), and you can apply online by completing a simple application form. The Abbey National website is straightforward and easy to navigate, with repayment illustrations for your information.
In the past couple of years Abbey National have had a bad press- things are definitely improving. The site is clear and concise, the unsecured loans are at better rates than the other banks (remember Abbey used to be a building society), and for customers with disabilities, all information is available in Braille, large text, on disc or audio.
The secured Abbey National Personal Loan, though, is a bit cheeky- it's only available to you if you are either lucky enough to be mortgage-free or have an Abbey National Mortgage. That cuts some 95% of the population out of the picture! Equally, a secured loan is only really worth it for life's big purchases- an extension to the house, for example (where you expect to add value to the property anyway!)
For everything else, that leaves the unsecured loan. The unsecured Abbey National Personal Loan is available from £1,000 to £20,000 and an over-the-phone decision is usually available in minutes. Rates compare very favourably with competitors (the Abbey National Personal Loan is the only big-5 bank loan which compares well with the supermarkets and direct lenders), and as with most products, the best rate is reserved for online applicants.
An entirely standard (30 day exclusions) payment protection policy also applies.
Summary
Abbey National Loans have a typical rate of 5.8% APR (for internet loans of £5,000 or more), and you can apply online by completing a simple application form. The Abbey National website is straightforward and easy to navigate, with repayment illustrations for your information.
posted by Barbara Gordon at 1:02 PM
Abbey Personal Loans
1 Comments:
Abbey is another one of those identifiable high street brands we recognise. Their roots reach way back to 1849, with the establishment of the National Freehold Land and Building Society. In 1944, it merged with the Abbey Road Building Society to form the well-known Abbey National.
In 2004 Abbey slashed the National off its name in a re-branding exercise to re-invent itself as a more accessible and jargon-free financial service provider. They offer a full range of personal financial services to 18 million customers. The range of services includes Abbey credit cards, loans, mortgages and savings, and bank accounts.
Features of the Abbeyloan
Abbey don?t charge sign up fees and customers will also find payment protection is offered to ensure that if they?re ill or have an unfortunate accident etc their instalments will be paid for them. This is offered at an additional charge.
Things to consider about the Abbeyloan
The typical rate Abbey offer isn?t necessarily the interest rate they?ll offer you. This rate is dependant on your credit rating and circumstances. Find out more about credit checks and how they work.
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