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Woolwich Loans, Are They The Best Deal?
Let over 200 Top UK lenders compete against Woolwich Loans 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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Woolwich loans are offered through Barclays Bank. Woolwich was voted the best flexible mortgage provider in 2007 by MoneyFacts. They offer both personal loans and homeowner loans.
Personal loans are currently offered at a rate of 7.9% APR for loans of £7,500 or more. For existing Woolwich customers, you can apply online and get a decision in minutes. If you are approved, you could have the money in your account in as little as 3 hours. That holds true if you apply before 2 PM on a work day. If you apply after 2 PM, you will receive the money the following work day. They offer fixed monthly payments so you always know exactly what you owe. Another important feature offered is a price promise that states if you find a better deal somewhere else, they will pay the difference between loan repayments.
Woolwich also offers what they refer to as a payment protection service. You can have confidence in their program because they were awarded five stars for their quality by Defaqto. Defaqto is an independent financial research company. Only 25% of UK banks have received that honor. The payment protection covers the following: 1. Coverage to make your payments in case you suffer from an accident, unemployment out of your control, sickness, hospitalization, and more. 2. If you die, your outstanding balance will be paid. Also, if you suffer a permanent total disability, or critical illness, you will be covered.. 3. Claims are dealt with in a fast manner and in a sympathetic way. 4. Practical help and advice.
Homeowner loans are currently offered at 8.5% APR. Homeowner loans from Woolwich range from £5,000 to £100,000 minus the value of your current mortgage. The pay back period is between 5 – 25 years. If you own a home and need to borrow over £5,000, then this is the loan for you. Appropriate uses for this type of loan are home improvements and consolidating debts. If you spread your payment out over 25 years, you can drastically reduce your monthly expenses. Of course, this will increase your overall interest payment so you will have to decide what is right for your particular situation. If you are wondering how much you can borrow, Woolwich has an online financial planner that will help answer that question.
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