Halifax Bank Loans

217 reviews

3.5% Representative

Will lend between: £1,000 - £25,000

Over: 12 - 84 Months

Representative example: You could borrow £10,000 over 48 months with 48 monthly repayments of £223.32. Total amount repayable will be £10,719.36. Representative 3.5% APR, Annual interest rate (fixed) 3.45%.

If you work at Halifax Bank Loans

Contact Halifax Bank Loans

Are you eligible for Halifax Bank Loans?

Check your eligibility before you apply.

  • Quick 40 second form.
  • No impact on your credit file.
  • Free personalised eligibility score.
Check Eligibility

Halifax Bank Loans customer reviews.

217 reviews

1.7 out of 5 stars

Slow
13:51 26-03-2013
ImageChoose Wisely

Slow responding to application

RW JOHns

They trick you with the rate!!
04:19 19-11-2011
ImageChoose Wisely

Just taken a loan with Halifax as it is where I have my current account. I applied online as the rate was 8.8% they called me back and said I can have the loan but it is over 14% interest! That's an extra £50 a month on the repayments! I have a perfect risk score with Halifax, no debts and a perfect credit rating. It's just simply greed and taking advantage. I've declined the loan and will be joining another bank. Beware of their tricks!!

Shane

Complete Lies
04:10 14-05-2011
ImageChoose Wisely

Been a Halifax customer over 10 years with bank

Deano

Jon
10:51 17-03-2011
ImageChoose Wisely

I was accepted for a loan immediately over the internet using their online application service. This was straight forward and not too invasive. A quick phone call later to confirm the terms, paperwork received in the post the next day (Free Service) and loan in account within 5 days. Great service and very reasonable payments over a 4 year term.

[email protected]

Everything was so easy
10:01 27-10-2010
ImageChoose Wisely

I asked for a loan from Halifax Loans of $5000. The internet application was easy to use and quick to do. I was accepted in principle on the net, and had an immediate phone call to agree terms. I got a good rate, and the people were very helpful. I would recommend this loan service.

Fay

No bad points :)
09:59 27-10-2010
ImageChoose Wisely

The website is easy to apply from. It's easy and straightforward and you're either accepted or rejected. I chose to pay over 5 years and I got a really good rate. They didn't shove their loan policies on me and the person I spoke to on the phone was polite and helpful. They even rung me to see if the courier had been around with the documents!

Frank

Positive experience
09:56 27-10-2010
ImageChoose Wisely

They were great because: I was accepted via principle over the net, they called me the next day to agree the terms, there is a good connection with the couriers, the rate was decent, the money was in my account 9 days later, and there is no penalty for paying up early!

Pamela

Really Happy
09:35 14-10-2010
ImageChoose Wisely

The Halifax website is an easy way to apply for a personal loan. It is simple and straightforward and you are accepted or rejected in principle a few hours later. The rate was competitive and you could pay over 5 years. They were not very pushy with their loan protection policies but obviously they were offered to you. Once you said no, they pretty much didn't ask you again.The person that I spoke to over the phone was very polite and helpful. He checked over the phone that I was happy with the terms.The courier that was sent to my house with the forms gave me twenty minutes to read the t&c's and sign the forms before taking them back to me. There was nothing for me to post. The couriers gave me a 2 hour window of when they would come and Halifax rang me back up to check that the courier had been in touch.Overall they left me with a positive experience. I would definitely borrow from Halifax again.

Adam

Great courier service
18:34 22-09-2010
ImageChoose Wisely

After being accepted for my loan with Halifax, the courier was sent to my house with the forms. He gave me twenty minutes to read the Terms & Conditions and sign the forms before taking them back for me. There was nothing for me to post. The couriers gave me a 2 hour window of when they could come and Halifax even rang me back to make sure the courier had been around. Definitely recommend!

Elizabeth

Really helpful staff
18:34 22-09-2010
ImageChoose Wisely

The Halifax website is an easy way to apply for a personal loan. It's simple, straightforward and you are accepted or rejected in principle a few hours later. The person I spoke to was very polite and helpful and made sure I was happy over the terms.

Joseph

Our review of Halifax Bank Loans

Halifax offer a really reasonable representative APR of 3.5% on their loans, so it’s going to come as no surprise to find out that customers will need to have good credit history to be approved for a loan. Their other criteria are fairly standard for the market, but you will need to have a Halifax current account for at least a month, or already have a mortgage, credit card or loan with them.

It’s worth making sure that you have online banking with Halifax as it means you can apply for their Online loan. With this you’ll be able to get a quote in one minute with no credit search and if approved you’ll receive the funds within minutes. The interest rate is fixed for this loan and although you can make overpayments with no charge, if you settle the loan early then you may be charged up to 58 days’ interest.

The Clarity loan also takes only a minute to get your quote online, however if you’re approved it can take up to 72 hours to receive your loan. There are no fees or charges for setting up this loan and unlike their other loan option, you don’t have to pay any fees for settling the loan early.

As with some other bigger banks on Choose Wisely, online reviews can be fairly scathing. On TrustPilot Halifax have received a score of only 1.8 – although this is spread across all their products, not just their loans. Negative reviews seem to spawn from their levels of customer service and lack of personal touch for customers that call in. On the other hand, Choose Wisely has a number of positive reviews for Halifax personal loans – these customers have enjoyed the smooth process, good interest rate and appreciated the online application.

Overall verdict: It’s a shame that Halifax have had such bad reviews when it comes to the customer service side of things, as loan customers seem to have a positive journey up until that point. If you have good credit and are happy banking with Halifax, then they may be a good option for you – just make sure you meet their criteria before applying as failure to do so may harm your credit score.

Written by: Alex

Highlights

  • No charge if you pay off your Clarity loan early
  • Current account holders can apply online
  • Low representative APR

Minimum criteria

  • You must be an existing Halifax customer
  • You must be a UK resident
  • You must be aged 18 or over
  • You will need to be in paid employment or have a regular income
  • You have not been declined for credit in the last month
  • You must have good credit

Fees

  • Maximum APR 28.9%
  • Arrangement fee: £0
  • Early repayment fee: £25
  • Late payment fee: £25

About Halifax Bank Loans

Halifax, one of the biggest high street banks, lend between £1,000 and £25,000 that can be repaid over one to seven years at a representative APR of 3.5% for loans between £7,000 and £25,000. As with most lenders on the market, the actual rate of interest you receive will be decided by your personal circumstances and may differ from the APR advertised. To apply for the loan you will need to have a good credit history and not been declined credit in the last month. You will also need to have held a Halifax current account for at least a month, or have a Halifax mortgage, credit card or loan.

Halifax offer two types of loan; Online, for customers who have online banking, and Clarity, for those who don’t. Both have various benefits and slight differences – Online means you can easily access your account and manage it, but Clarity means there is no charge if you settle your loan early. Most customers will receive the funds instantly, however there is a chance that it could be up to 72 hours from when Halifax receive the signed loan documentation.

Company information

Registration number: SC327000

www.halifax.co.uk

08457 283848

33 Old Broad Street, London, EC2N 1HZ

FCA registration

Reference No: 169628

Trading names: AA, AA Account, AA Visa, AA Visa Card, Bank of Scotland PLC

Place of business: The Mound, Edinburgh EH1 1YZ

Data protection registration

Registration No: Z7828948

Data controller: Bank Of Scotland PLC

Address: The Mound, Edinburgh EH1 1YZ

Apply Now