Soon to become a first time mum, so keep those baby product reviews coming........................
Soon to become a first time mum, so keep those baby product reviews coming........................
Member since:28.12.2006
Reviews:9
Members who trust:1
I have had 2 large loans with Northern Rock, and would consider them again. They have a very competitive rate....they may not be the absolute cheapest on the market but they do have one major advantage on most other loan schemes, in that there is no redemption penalty when paying the loan off early. If you intend to pay off your loan early, the lack of an early redemption fee, means this type of loan could work out cheaper than another lenders loan which has a lower APR and lower subsequent monthly payment making you initially think the lower APR loan is the better deal. The No Early Redemption Fee is an exceptionally attractive feature as many people like myself desire a cash injection 'now', but can them pay off a loan in a shorter space of time than the loan term, and object to paying a redemption penalty, or monthly interest. The loan is easy to apply for, either online, by post or over the phone. The forms come in the post very quickly after application. They do perform a credit search on you but I would expect this from most lenders. They do push their loan protection insurance quite heavily. The first time i applied for a loan I was called up by Northern Rock and had to justify on the phone why I did not need their protetion. However when I applied for my 2nd loan, I said I did not need loan protection insurance and no questions were asked. After acceptance, the money was in my designated account within a few days. Both loans I paid off in full very shortly after receiving the money, in fact my 2nd loan was paid off before my 2nd payment was due. There was no fuss/resistence shown by Northern Rock to this. They just gave me my settlement figure which I paid via BACS.
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Jun 5th, 2007
very helpful by (25%):
helpful by (75%):
