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Halifax Loans

www.halifax.co.uk/loans/home.shtml

Unsecured Halifax loans are in the middle of the market: the typical 9.9% APR is reasonable compared to some providers, but it's still higher than the supermarket banks and Direct Line. However if you're a homeowner you should take a closer look: secured Halifax loans have an APR as low as 5.9%.

About Halifax Loans

Halifax loans are available in all shapes and sizes: secured or unsecured, personal loans or car purchase loans, fixed or variable interest rates, flexible borrowing, home improvement loans and borrowing amounts of up to £25,000. The personal loans have a typical APR of 9.9%, which is reasonable – although other lenders offer lower fixed APRs – and you can spread repayments over one to seven years; you don't make any payments for the first three months.

Secured Halifax loans are more interesting: homeowners can benefit from APRs as low as 5.9% if your mortgage is with the bank (7.3% for other applicants) - although it's important to note that the APR is variable so if interest rates rise, so will your payments. It's something of a gamble: for now, secured Halifax loans come with one of the lowest APRs we've seen – but if you're not convinced that interest rates will remain at their current low levels, then it might be more sensible to take the fixed rate of 6.9% that's widely available elsewhere.

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