How to repay your personal secured loan
You have a choice of ways you can pay back your loan, although you may decide to choose the same method you use for your existing mortgage.
repayment A repayment loan pays off the amount you've borrowed plus the interest we charge. With this method, you gradually pay off the amount borrowed over an agreed number of years meaning that the loan will be repaid at the end of the term.
interest only This method allows you to pay only the interest charged during the term of the loan. As you do not repay any of the amount borrowed each month, you'll need to save separately into an investment product and use these funds to repay your loan at the end of its term.
Use our personal secured loan calculator to find out how much your monthly payments could be.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.