Nationwide Bank Loans

358 reviews

3% Representative

Will lend between: £1,000 - £25,000

Over: 12 - 60 Months

Representative example: Representative Example: If you borrow £10,000 over 60 months at a representative rate of 3.0% APR and an annual interest rate of 3.0% (fixed), you would pay 60 monthly instalments of £179.51. The total charge for credit will be £874.40 and the total amount payable will be £10,770.60.

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Nationwide Bank Loans customer reviews.

358 reviews

2.1 out of 5 stars

Fantastic service!
08:24 13-05-2017
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I am a customer and needed a loan to rid myself of an expensive credit card. Applied for a loan not really expecting to be successful judging on previous reviews but my loan was agreed and although not at the highlighted rate still not much approve it! I am so happy that I can now sort out my finances and get rid of the credit card. Thank you Nationwide!!!

Rosemary North

Low interest loan
12:46 25-11-2018
ImageSmart Money People

Low interest, great deals, no problems

Jenna Bevan

Didn't get it at 3% but pretty happy
09:32 12-04-2016
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I have a mortgage with Nationwide so I thought going with trying for a loan to poay for fitting a new kitchen and bathroom before we sell the house would be a good idea - especially at 3% or whatever it is. Was a bit p***d [ED - profanity removed] off that I got the loan at 6.6% instead but still, it was pretty quick and painless considering I don't have the best credit rating out there. Thanks

LEE

Where others reject Nationwide,studies then accepts
19:51 10-06-2018
ImageSmart Money People

Had great difficulty changing a "Balloon" payment on a vehicle which was via the "people's car" to a better rate loan which could be paid off early peicemeal.AA Bank of Ireland useless via internet or phone..Nationwide made my day.via Phone saving over 11% over the life of the loan.Smashing.

john radburn

goodtobesaid
06:09 10-01-2014
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sneha123

Fast efficient service
08:44 18-05-2018
ImageSmart Money People

AS a member offered low interest rate. Money was in m,y account within 2 days.

James Smith

Really not loyal to long time customers!!
09:46 02-11-2013
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Really annoyed with Nationwide, my bank for the last 15 years. I wanted a loan to consolidate my debts and by getting the loan it would reduce my monthly outgoings by around £350 a month. I was turned down due to having 3 dependents basically as they deemed i could not afford the repayments which is bull!! So much for Nationwide on your side!! So i have written them a complaint letter considering i want the money to pay off my credit card with them and my overdraft you would think they would be happy to help. They did not even do a credit check on me as i checked and when i spoke to them they said try applying for a joint loan that will help.... so i did and still a big fat NO!! Its beyond a joke i am one dissatisfied customer that's for sure!!!!

Aliandra

Excellent
10:04 10-02-2018
ImageSmart Money People

Excellent customer service from Nationwide. They help you, and you're not just a number.

Gary

No loyalty to long time customer
18:02 25-04-2012
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I work full time, pay all my bills on time, have a good credit rating, yet trying to get a loan from the building society I've been with for 25-ish years to consolidate some debt that despite the added interest, would reduce my monthly outgoings by around £150, was a pointless exercise. And the online application via the nationwide website was a bad experience due to their website crashing three times whilst trying to apply. Furthermore it took two emails and a phone call to even find out whether I'd been granted a loan or not. Not happy, and wouldn't recomend

Jason

Recommended by a friend to move to nationwide
07:55 27-01-2018
ImageSmart Money People

Faye was amazing, really happy with the loan, top class customer skills. I’m hard to please as well. Thank you nationwide:)

Lisa

Our review of Nationwide Bank Loans

As with most other high street banks and building societies, Nationwide offer a variety of loan amounts with repayment periods spanning one to seven years and the rates offered are on par with the other banks and supermarkets. However, beware the lowest rates are reserved for Nationwide customers only. It’s also worth noting that rates will differ depending on how much you borrow, so don’t take it for granted you’ll receive the rate advertised. If you are a Nationwide current account customer it’s worth making the most of their Loyalty Price Promise which promises to beat any like-for-like offer from another UK loan provider by 0.5% APR.

As you would expect from a financial powerhouse, they provide online and mobile account management. Also the bonus of being able to pop into a branch to sort out any concerns can be an attractive feature for a lot of customers. Nationwide do offer phone support Monday to Friday, 8am to 6pm but having to sift through a bunch of automated options before you speak to a human can become quite tedious.

In terms of customer feedback Nationwide have received a fair bit of negative feedback across the internet. This is to be expected with a company of their size, and after carrying out some deeper research, general feedback by borrowers is on the whole positive. At time of writing this Nationwide loans were scored 3.1 out of 5 by Choose Wisely customers with customers praising their affordable rates, easy application and prompt payout.

Overall verdict: If you have good credit and are looking for a personal loan, it’s worth considering Nationwide as they offer competitive rates, especially if you’re an existing customer. But beware, dependent on how much you borrow you may not get the rate that’s advertised.

Written by: Alex

Highlights

  • Low representative APR
  • Beat any like-for-like rate by 0.5% APR for main current account customers
  • Online quote doesn’t leave a credit footprint
  • Online management portal for making payments and checking balance

Minimum criteria

  • Must be aged between 18 and 79
  • Must have a net monthly income of at least £700
  • Must have the right to live and work in the UK
  • Can’t have missed 3 credit commitments in the last year
  • Must not be currently bankrupt, have CCJs or be under an IVA
  • Self-employed customers must prove 1 year’s income
  • Joint applicants must live at the same address

Fees

  • Maximum APR 13.9%
  • Arrangement fee: £0
  • Early repayment fee: £0
  • Late payment fee: £0

About Nationwide Bank Loans

Nationwide, one of the UK’s largest building societies, offering loans between £1,000 and £25,000 to be repaid over one to seven years. Their advertised representative APR is 3.0%, one of the cheapest options on Choose Wisely. However, they do take into account how much you are looking to borrow, and your personal circumstances when deciding the final interest rate.

To apply with Nationwide you must be aged between 18 and 79 and have a net monthly income of at least £700. You must also have a good credit history, missing no more than three credit payments in the last year. Nationwide won’t accept any applications from anyone that has been declared bankrupt or has a CCJ or IVA against their name. If you are self-employed you must be a homeowner and be able to prove a minimum of one year’s income through either an accountant or SA302 form.

Nationwide do not charge any arrangement or upfront fees and offer a free no obligation quote before you take the agreement out. Applications can be completed either over the phone or via their online application. This can take up to 15 minutes but will provide you with a preliminary decision straight away. If you’re an existing Nationwide customer, you may not have to provide any documents but if you aren't, then expect to provide proof of income and more comprehensive personal details.

Once Nationwide have received your application you will receive an email and a text message saying that you have been accepted in principle. The loan agreement will then be sent to you within two working days. Read through this carefully, sign it and send it back. If you’re a Nationwide customer, the funds can then be in your account within 24 hours of them receiving your returned documentation. If not, then It can take three to five working days.

Company information

Registration number: 04397736

www.nationwide.co.uk

08457302010

Nationwide Building Society, Nationwide House, Swindon, SN38 1NW

FCA registration

Reference No: 106078

Trading names: Nationwide Building Society , Nationwide Financial Solutions , Cheshire Building Society, Derbyshire Building Society, Dunfermline Building Society, Salt Commercial

Place of business: Nationwide Building Society, Head Office, Nationwide House, Pipers Way, Swindon SN38 1NW

Data protection registration

Registration No: Z7074586

Data controller: NATIONWIDE BUILDING SOCIETY

Address: Nationwide Building Society, Head Office, Nationwide House, Pipers Way, Swindon SN38 1NW

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