As a mutual organisation with no external shareholders, the Derbyshire Building Society prides itself on its ability to offer its customers the best deal on their finances rather than focusing on maximising profits. The personal Derbyshire Building Society loan is a basic package offering an affordable borrowing option whether your are looking to buy a new car, go on a holiday, or consolidate your existing debts into one monthly payment to reduce your outgoings.
With the Derbyshire Building Society loan you can borrow between £500 and £25,000 over a repayment period of 1 to 7 years. The advertised typical APR is currently 7.90%, and is fixed for the life of the loan, so that even if the Bank of England Base Rate goes up during that time your monthly repayments will not rise.
The particular rate of interest offered to you will depend on your personal circumstances. The Derbyshire Building Society will closely assess your personal history of borrowing, as well as your income and ability to meet repayments, to calculate the risk you present as a loan candidate. Generally, the better your credit score, the lower rates you will qualify for. However, the Derbyshire Building Society loan rates rise steeply for customers with bad credit ratings , so if your credit score is less than perfect you should consider comparing the Derbyshire Building Society loan to other products to ensure you are getting the best deal available. To make sure your total loan cost will remain as low as possible complete the form on this page for a fast, no-obligation comparison between hundreds of UK lenders.