As a mutual company, the Norwich and Peterborough Building Society is owned by its own customers, allowing them to focus on giving their customers the best services possible rather than paying dividends to external shareholders. Their loan products were only available through loan brokers until 2006; now available directly to customers, Norwich and Peterborough Building Society claims that as a result their interest rates are lower now than they were 15 years ago.
The Norwich and Peterborough Building Society loan is a personal loan, allowing customers to borrow between £500 and £25,000 without providing collateral. Repayments are able to be made over 1 to 7 years, and interest rates are variable.
As the Norwich and Peterborough Building Society loan is unsecured, the rate offered to you will depend on your financial circumstances. Your personal history of borrowing will be assessed by the Norwich and Peterborough Building Society to determine the interest rate that will be offered. The amount you are looking to borrow and the loan term requested will also be taken into consideration.
If your credit history is less than perfect, you may find it difficult to find an affordable unsecured loan; you might find that a secured loan is your best loan option, as they often offer better rates and more flexible loan terms. Complete the form on this page for a thorough search of UK loan deals and compare the cheapest loan options available for you circumstances and budget.