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Lombard Direct Loans, Is There A Better Deal?
Let over 200 Top UK lenders compete against Lombard Direct to give you the lowest rate personal loan available. Fill out the form below to see if you can get a better deal.
Our service is completely free, you pay nothing and there is no obligation. See how much you can save! |
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NO PAYMENTS for the first 5 months on many loans! |
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You can borrow up to £100,000. |
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Spread your payments out and make them more affordable. Repayment periods from 3-30 years. |
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Arrears, CCJ's or bad credit? No problem - All Accepted. |
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Borrow up to 100% of your home's value. |
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Lombard Direct was one of the first direct providers of loans in the UK and they remain one of the largest to this day. They were established in 1996 and is part of the Royal Bank of Scotland Group.
So why should you choose Lombard Direct loans? One reason is because they have very affordable loans. They have fixed payments so you always know what you owe. Also, they have an online signup, which is very convenient and requires no complicated paperwork. It only takes about 15 minutes to apply. Once your loan is approved, they will send the money directly to your checking account. Generally, it takes 10 working days for them to process your application, from the time the app is received.
What are some of the features of Lombard Direct loans?
1. Low interest rate. Currently, the typical online rate is 7.7% APR.
2. Fixed monthly payments, which means your payment will stay the same no matter what happens with the interest rates.
3. They provide unsecured loans, which means you are not required to be a homeowner.
4. Repayment periods are between 2-7 years based on the amount borrowed.
5. There is a 14 day free look period. This means if you decide you do not actually need the loan within the first 14 days, you can change your mind without penalty. Lombard will do a short phone verification as a security check to make sure you actually want to cancel your loan. This is a security feature to protect you as the consumer.
6. You can pay off your loan early. There is only a one month’s interest prepayment fee.
7. They offer a loan payment protection program.
Why would you want to protect your loan?
Well, if something happened in your life that made it very difficult, or even impossible, to repay your loan, what would you do? With Lombard’s loan payment protection program, your payments will be made in certain circumstances. There are three levels of protection you can choose from. These are Premier Cover, Classic Cover, and Standard Cover.
The Standard Cover protection covers the following: 1. Life, Accidental Death or Injury. 2. Major Illness 3. Hospitalization 4. Sickness/Accident
The Classic Cover protection covers 1. Everything the Standard Cover protection covers 2. Unemployment for 12 months
The Premier Cover protection covers 1. Everything the Standard and Classic cover 2. Unemployment for 18 months 3. Sickness and Accident for 18 months 4. 10% premium cash back 5. Back to work service and medical helpline.
Remember you do not have to be a homeowner to qualify for a loan at Lombard Direct Loans. They accept applications from homeowners, renters, and customers who live with their parents. You simply need to live in the UK or at a British Forces Post Office address.
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