How much do you want to borrow?
£1,000 £6,999Over how many months?
12 months 84 monthsMonthly Repayment
Total Interest paid
Arrangement Fee
Total amount paid
20% - 25.8%
20.9%
£1,000 - £6,999
Minimum Term 1 year
Loans up to £6,999 - up to 7 years
Direct Debit, If you pay off your loan in full before the end of the agreed term, you will be charged up to 58 days
7 working days with courier service
14 working days without courier service
No Fee
3 month payment deferral option at the beginning of your loan.
Transferred into your bank account
No
205th for APR of 423 loans in the UK (See Lender League Table By APR)
24th for Customer Satisfaction (See Customer Reviews)
Only available to Halifax customers, their unsecured personal loans range between £1,000 to £6,999 repayable over 1 - 7 years. The APR range is not great, so you will be paying quite a high interest rate for a good credit bank loan. However, if you bank with Halifax, the convenience could make up for it.
Complete their online application form and you should get a same day decision. If you are accepted, your credit agreement will be sent to your home, which you will have to sign and send back. An optional courier service could speed up this process, but there is a £70 fee for this. Once they have received your signed documents, they will usually release the funds between 1 - 2 weeks. They will perform a credit check on you so if you have bad credit this is not be the option for you.
They offer up to a 3 month repayment deferral at the beginning of the loan but the interest still accumulates during this period. Halifax state they have no early settlement charges which is not entirely true. If you were to pay it off early you could end up having to pay up to 58 days interest.
Halifax are fairly slow at paying out, so probably not a good option if you need money quickly. They are quite rigid with upholding the agreement with you which means if you do fall into financial difficulty, they may not be quite as sympathetic as you would want them to be. This is only a good option providing you don't fall behind with your payments as you can expect some extra charges. See the charges listed below. Halifax can only accept people with good credit (i.e. you haven't made any late payments, have any CCJs or defaults).
|
Default Fees |
Pre-default notice - £30.00 Default expired - £50.00 |
|
Early Settlement Fees |
58 days interest |
|
Other Fees |
Issue of instruction to solicitor - £50.00 Receive your documents by courier quicker - £70.00 |
|
Late Payment Fees |
Failed direct debit - £25.00 Letter requesting payment - £10.00 Telephone call requesting payment - £10.00 |
Average Customer Review:
(5 customer reviews)
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Frank, Paignton
1 year ago
The website is easy to apply from. It's easy and straightforward and you're either accepted or rejected. I chose to pay over 5 years and I got a really good rate. They didn't shove their loan policies on me and the person I spoke to on the phone was polite and helpful. They even rung me to see if the courier had been around with the documents!
Great courier service
Elizabeth,
1 year ago
After being accepted for my loan with Halifax, the courier was sent to my house with the forms. He gave me twenty minutes to read the Terms & Conditions and sign the forms before taking them back for me. There was nothing for me to post. The couriers gave me a 2 hour window of when they could come and Halifax even rang me back to make sure the courier...
Read full review >
Positive experience
Pamela, Newport gwent
1 year ago
They were great because: I was accepted via principle over the net, they called me the next day to agree the terms, there is a good connection with the couriers, the rate was decent, the money was in my account 9 days later, and there is no penalty for paying up early!
I got my loan with a low rate
Melanie, Perth
1 year ago
I ask for a loan from Halifax for £2,000. The internet application was easy to use and quick to do. I was accepted in principle on the net, and I had an immediate phone call to agree the terms. I got a good rate, and the people were very helpful. I would recommend this loan service to anyone.
Really helpful staff
Joseph, Liverpool
1 year ago
The Halifax website is an easy way to apply for a personal loan. It's simple, straightforward and you are accepted or rejected in principle a few hours later. The person I spoke to was very polite and helpful and made sure I was happy over the terms.
Halifax Loans Debt Help
http://www.debt-line.org.uk/Halifax
