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Northern Rock Personal Loans

Northern Rock offers personal loans to those in need of money. There are two types of Northern Rock Personal Loans namely unsecured loan and personal secured loan.

Unsecured loans

Amounts ranging from £1,000 to £25,000 are normally lent. There is fixed interest rate and the monthly repayments are fixed and known to the borrower well in advance. These Unsecured Personel Loans are best suited for debt consolidation, home improvements or car loans. The repayment period if generally spread over 7 years. There is a special loan calculator that helps to calculate the repayment amounts for the borrowers.

Personal secured loans

Personal secured loans are offered by northern rock to their mortgage customers. Any amounts starting from £3,000. Can be borrowed and the repayments are spread over a long period of time and they are generally very low. This loan is tied up to the equity of the home and helps to release the amount in times of need. These loans can be spread over a period of thirty give years. The maximum amount that can be borrowed is the sum of the mortgage plus the secured personal loan; it almost adds up to 95% of the property value.

The APR of loan is 10.5%. The unsecured loans have loan protect insurance that helps to repay in times of distress like illness or unemployment.

Northern Rock Personal Loans are disbursed the same day of receipt of loan documents. Use these loans for home improvement, debt consolidation or at a time when you are in urgent need of money.

Northern Rock understands its customer needs and helps them when they want money most.