Bank of Scotland loans are available as both unsecured and secured loans. The Unsecured Bank of Scotland loan is offered as two separate products: the Smaller Bank of Scotland loan, and the Personal Bank of Scotland loan. The Smaller Bank of Scotland loan offers loans for smaller amounts over a lesser period of time, while the Personal Bank of Scotland loan provides loans for larger amounts and offers the options of longer repayment periods. If you are applying for either of these unsecured Bank of Scotland loan options, the actual APR offered to you will depend on an assessment of your personal circumstances, and if your credit rating is less than perfect you may not qualify for these attractive rates. If this is the case, you may find that unsecured lending does not provide an affordable borrowing solution. If you are a homeowner, you may wish to consider a secured Bank of Scotland loan.
The Secured Bank of Scotland loan offers lower interest rates - both fixed and tracker options. You can select a more flexible loan term, allowing you to spread repayments over the remaining term of your current mortgage. Homeowner lending is often a more affordable option for bad credit applicants; to discuss your options in more detail complete the form on this page. Totally Money will connect you with an independent expert for advice that is tailored to your independent circumstances, enabling you to make informed decisions on whether a Bank of Scotland loan is the best option available for your budget and requirements.