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.
First things first 3
Why choose a Halifax Personal Loan? 5
Ready to apply? 7
Important information 9
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.
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
late or missed payments. To recover the debt
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
agencies. let us know if you think you’re going
to miss a payment and we may be able to avoid
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.
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.
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.
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
Make an appointment
at your local branch or by
calling 08457 39 49 59
To make things easy for you, you can apply for
a Halifax Personal Loan in three simple ways:
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.)
Call 08457 24 34 44
Lines are open 8am-8pm Monday to Friday, 8am-6pm on Saturday.
Apply online at any time of day.
Go to www.halifax.co.uk/loans
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.
Interest charging The interest rate is fixed and guaranteed for the life of the loan.
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.
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
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
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.
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