Helping you with the things you need to do Halifax

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					 PERSONAL LOANS

 Helping you
with the things
you need to do




 a little extra help
    A little extra when
    you need it…

    Everyone needs a little help once in a while
    to pay for those essentials in life. A Halifax
    personal loan could be a quick and convenient
    way to pay for the things you need – when
    you need them. So if you’re looking for
    an affordable way to pay for some home
    improvements, to replace your car, or to
    consolidate your outgoings, a Halifax personal
    loan could be the answer.
    But remember, when it comes to borrowing
    money, it’s important to think things through
    carefully. Which is why if we think a loan’s not
    right for you – we’ll tell you straight. The last
    thing we want is for you to borrow more than
    you can afford.
    On the other hand, if a loan is the right option
    for you, it won’t be too long before you’ve
    started work on those home improvements or
    you’re collecting the keys to your next car. And
    if you already bank with Halifax, we’ll have all
    your details to hand – which could speed up the
    whole process of arranging your loan.




1
Contents

      First things first                    3

      Why choose a Halifax Personal Loan?   5

      Ready to apply?                       7

      Important information                 9




                                                2
    First things first

    Here’s the first big question: is a personal loan     What’s the alternative?
    right for you? It’s important to be 100% sure that
    you can comfortably afford both the amount            A personal loan is just one way of getting the
    you want to borrow and the time you’ve chosen         money you need. If you have savings, you could
    for paying it off.                                    be better off using these instead of taking out
                                                          a loan – as the interest on a loan may be higher
    One of the major plus points with personal            than the interest you earn on your savings.
    loans is their flexibility. You could, for example,
    go for a longer repayment period with smaller         Other types of borrowing include authorised
    repayments. This might initially leave less of a      overdrafts and credit cards. And there’s always
    dent in your wallet. But remember, in the long        a secured loan which, if you’re a homeowner,
    term – more repayments mean you’ll clock up           uses your home as security. This usually gives a
    more interest in the end.                             lower rate of interest – but please be aware if
                                                          you can’t repay this kind of loan, you risk losing
    Decision time…                                        your home.

    personal loans are simple to apply for. The main      Making repayments easier
    three things to consider are:
                                                          You don’t want a loan to take over your life.
    • How much – usually you can borrow any               So don’t make things unnecessarily hard for
      amount between £1,000 and £25,000.                  yourself. Always try to keep enough money in
    • How long – your repayments can be spread            your account not just to make the loan
      over 1-7 years.                                     repayments but to sort out unexpected
                                                          emergencies like the washing machine breaking
    • Variable or fixed interest rates? With a Halifax    down or car repairs.
      personal loan they’re fixed, so you can budget
      with confidence, knowing your repayments            Have less to worry about
      won’t go up.
                                                          Your repayments will come out of your
                                                          account automatically by direct debit – so
                                                          that’s one less thing to remember. You might
                                                          also want to consider taking out insurance
                                                          cover to protect your loan repayments, in case
                                                          you fall ill or lose your job.




3
What are the risks?
When you apply for a loan, we’ll usually ask a
credit reference agency for your credit history.
Bear in mind, that if you apply for lots of credit,
this won’t necessarily look good for your credit
rating and you may not be able to borrow as
much as you’d like.
And what about repayments? As long as you
make them as agreed, there’s nothing to worry
about. But if you don’t repay your loan – which
is known as breaching your loan agreement –
we might charge you our costs in retrieving the

                                                           gs
late or missed payments. To recover the debt

                                                       Thin
we may also take any money you owe us from
other accounts you hold with us. This could
also affect your rating with credit reference             to r
                                                            ide
                                                        cons
agencies. let us know if you think you’re going
to miss a payment and we may be able to avoid
all this.
And if you want to pay off your loan completely
– that’s fine too. Simply write and ask for a
settlement figure. Although you will be entitled
to a statutory rebate of some of the interest
you have agreed to pay us, in practice your
settlement figure will include up to 58 days
interest. So it’s worth having a chat with us first.




                                                                  4
    Why choose a
    Halifax Personal Loan?

    There are lots of personal loans out there.      Fast
    And knowing which one to pick can be
    confusing. So here are some of the features      Apply for a loan in branch and we can usually
    that could help you decide if a Halifax          give you a quick decision. If you have a
    Personal Loan is the right one for you…          Halifax or Bank of Scotland current account
                                                     – the money could be in your account just 20
    Adaptable                                        minutes after your loan has been approved.
                                                     loans over £15,000 could take a little longer.
    Whether you’re after £1,000, £25,000, or any
    amount in between, a Halifax personal loan       Predictable
    will offer you the right combination of ‘how
    much’ you borrow and for ‘how long’. From your   Once you take out your loan, your payments
    next car to improving your home, you can use     are fixed until it’s all paid off. You’ll know
    your loan for almost anything and spread your    exactly what you’re paying and when, and you
    repayments over 1 to 7 years.                    won’t find your repayments going up and down
                                                     – making budgeting easy to manage.




5
Straightforward                                    Need information?
Obviously, we’d like you to take out a Halifax     If, after reading this brochure, you’d like to
personal loan. But before you start ticking        know more about our personal loans, ask at your
boxes on the application form, why not have a      local branch or visit www.halifax.co.uk/loans for
free, informal chat with one of our in-branch      more details.
advisers? They can help you decide the best
way to get the money you need – whether that
means dipping into your savings, or taking out a
personal loan with us. Just make an appointment
at your branch. We’ll try to answer any
questions you have, as clearly as possible.




                                                                                                       6
    Ready to apply?

    Expert and friendly help                              What you will need to show us
    For the more nitty gritty detail, our in-branch       when applying for a loan
    advisers will be happy to talk you through our        After you’ve booked your appointment with a
    personal loan options. And as well as offering        member of staff we do a standard electronic ID
    advice on whether a loan is right for you, they       check with a credit reference agency. This isn’t
    can also review your general financial situation      a credit search and only records the fact that
    – sense-checking all your accounts with us and        we’ve done an ID check to verify your identity.
    helping you plan for the future with confidence.
                                                          However, if we can’t do the check electronically,
    This service is quick, completely free and there’s    to help your application go through smoothly,
    no obligation, so there’s nothing to lose. In fact,   it’s best to bring the following documents as
    we may even be able to suggest changes that           back-up:
    could make or save you money.
                                                          • One government issued document (such as
                                                            full driving licence, passport) and;
                                                          • One additional supporting document (such as
                                                            council tax bill, tenancy agreement, bank or
                                                            building society statement or utility bill).
                                                          • It will also help if you bring along a recent
                                                            payslip and details of any existing credit
                                                            commitments.




                                                              Make an appointment
                                                            at your local branch or by
                                                             calling 08457 39 49 59


7
To make things easy for you, you can apply for
a Halifax Personal Loan in three simple ways:


  In branch
  Come in for a decision – and if you’re a Halifax or Bank of Scotland current
  account customer, the money could be in your account 20 minutes after
  the loan’s approved. (Loans over £15,000 may take a little longer.)


  By phone
  Call 08457 24 34 44
  Lines are open 8am-8pm Monday to Friday, 8am-6pm on Saturday.


  Online
  Apply online at any time of day.
  Go to www.halifax.co.uk/loans




                                                                                 8
    Important information

    Any financial decision should be taken                       The table below provides key information for
    seriously. So to help you decide if you’re                   our Halifax Unsecured personal loan from £1,000
    choosing the right product, here is some                     to £25,000. It only summarises the main features
    more detailed information.                                   of the product and is not intended to replace any
                                                                 terms and conditions that come with your loan.
    Summary box
       Interest charging    The interest rate is fixed and guaranteed for the life of the loan.
       information

       Repayment            Repaying your loan is by direct debit and the first repayment is due three months after
       information          the date the loan has been opened. We charge interest in the period between the start
                            of your loan and your first repayment.

       Repayment period     You can choose to repay your loan over 1 to 7 years.

       Amount of loan       Loans are available to existing customers from £1,000 to £25,000.
       available

       Arrangement fee      There is no arrangement fee.

       Other fees           If you choose our courier service to deliver your loan agreement, up to £70 will be
                            payable as a one-off charge 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: up to £25;
                            • Letter requesting payment from you or telephone call to your 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 settlement     There is no charge for settling your loan early, but the amount you agree to pay us when you
                            take out your loan includes interest that would be charged at the end of the loan term. In
                            reality, you will not have to pay all of this interest as you’re entitled to a statutory rebate of
                            some of the interest. This means, in practice, that you’ll pay up to 58 days’ interest.

       Loan updates         Just write to us and we’ll send you an update on your loan account or a copy of your
                            loan agreement.



9
Our lending criteria                               Customer service
loans are only available to existing customers     We do all we can to give you the very best
aged 18 or over and living in the UK. Credit       service. But sometimes things can go wrong.
facilities are subject to status.                  If you ever have a complaint or a problem,
                                                   we’d really like to know. please talk to us in
Security                                           branch or call our customer complaints helpline
If you are in breach of your loan agreement        on 0845 725 3519.
we may take any money you owe us from any
                                                   If you do make a complaint but feel we haven’t
other accounts with us which have a credit
                                                   done enough to resolve it you can also contact
balance, including a joint account providing the
                                                   the Financial Ombudsman Service. please
conditions allow and there’s enough money in it.
                                                   ask us in branch if you’d like a copy of our
Commission                                         complaints procedure.
If we arrange insurance cover to protect           Free booklets and information
your loan repayments, we (or any member of
                                                   This brochure gives you an overview of Halifax
our Group) will receive commission which we
                                                   personal loans. If you’d like more detailed
will keep.
                                                   information, our staff will be happy to help.
Do you need extra help?                            The Financial Services Authority (FSA)
We’re here to help in any way we                   also provides a range of free booklets
can. If you have a hearing or speech               and factsheets. You can call their
impairment you can use Typetalk                    consumer helpline too. To find out more,
                                                   visit www.moneymadeclear. fsa.gov.uk
whenever you contact us, or can
                                                   or call 0300 500 5000. please note that the
use Textphone on 0845 603 1393.
                                                   FSA will only give you general information
The lines are open Monday to Friday                and are unable to give you any advice,
8am-10pm, Saturday 8:30am-6pm,                     investigate a complaint or contact a
Sunday 9:30am-5:30pm. For visually                 financial company for you.
impaired customers we can also
                                                   All the information in this booklet was correct
provide documents in large print,
                                                   when it was printed (May 2010).
Braille, on audio-cassette or CD.
please ask a member of staff                       Halifax is a division of Bank of Scotland plc.
if you’d like to know more.                        Registered in Scotland no. SC327000. Registered
                                                   office: The Mound, Edinburgh EH1 1YZ.




                                                                                                     10
It’s easy to
get in touch


   Visit our website at www.halifax.co.uk or phone our UK call centres on:

   Personal loans                                     08457 24 34 44
   Banking                     Bank account           08457 20 30 40
                               Credit cards           08457 28 38 48
                               Lost or stolen cards   08457 20 30 99
   Mortgages                   Mortgages              08457 27 37 47
                               Secured lending        08457 27 37 47
   Insurance                                          08457 23 33 43
   Savings                                            08457 26 36 46
   Investments                                        08456 00 08 45
   Share dealing                                      08457 22 55 25


Did you know that you can phone your local branch
direct? Find the phone number online at

www.halifax.co.uk/branchfinder


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