Northern Bank Home Owners Personal Loan

Good:
This loan is for homeowners, but it is still unsecured so you don't have to use your property as collateral

Bad:
You may have to provide a guarantee or indemnity, which may incur a fee

Verdict:
Northern Bank mortgage customers only - cheapest unsecured homeowner loan on the market, definitely worth applying if this loan fits your circumstance

Northern Bank's Home Owner loan is exclusively available to Northern Bank mortgage customers, so do not apply if this is not the case. You can borrow between £1,000 and £25,000 which you can pay back over 5 years. You can make over payments and lump sum payments without being charged any extra. A guarantor and indemnity may be required, so do not apply if you would not be able to provide this. This means you will have someone to back your application and promises to make repayments if you don't.

You can apply over the phone by calling 0800 66 00 33. Or you can apply in one of your local branches. If you apply in the branch, your loan can be paid out into your Northern Bank servicing account between 24 and 48 hours. If you apply over the phone, it can take up to 5 working days. At the end of the application they are able to tell you if you have been accepted or not. If you have been accepted, they will send out the loan documents to your home address which you will need to sign and send back (you may need to send extra documents to prove you can afford the loan). Once this has been done they will pay the money into your account.