Personal Secured Loan Repayment Examples
The following examples are designed to give you an idea of how much your personal secured loan may cost.
Repayment table for discounted for life product – discount of 0.85% below the Northern Rock Standard Variable Rate until the loan is repaid, giving a current rate payable of 6.24%. Northern Rock's Standard Variable Rate is currently 7.09%
| Amount of loan | |||||||
|---|---|---|---|---|---|---|---|
| £30,000 | £20,000 | £15,000 | £10,000 | £5,000 | |||
| 25 year term | Protected Monthly Payment | £228.64 | £153.30 | £115.64 | £77.97 | £40.31 | |
| Unprotected Monthly Payment | £198.99 | £133.42 | £100.64 | £67.86 | £35.08 | ||
| Overall Cost for Comparison | 6.6% | 6.6% | 6.7% | 6.8% | 7.2% | ||
| 20 year term | Protected Monthly Payment | £251.82 | £168.84 | £127.37 | £85.88 | £44.39 | |
| Unprotected Monthly Payment | £220.51 | £147.85 | £111.53 | £75.20 | £38.87 | ||
| Overall Cost for Comparison | 6.6% | 6.7% | 6.7% | 6.9% | 7.3% | ||
| 15 year term | Protected Monthly Payment | £292.86 | £196.37 | £148.12 | £99.87 | £51.62 | |
| Unprotected Monthly Payment | £258.71 | £173.47 | £130.85 | £88.22 | £45.60 | ||
| Overall Cost for Comparison | 6.6% | 6.7% | 6.8% | 7.0% | 7.6% | ||
| 10 year term | Protected Monthly Payment | £378.83 | £254.01 | £191.60 | £129.18 | £66.78 | |
| Unprotected Monthly Payment | £338.85 | £227.20 | £171.38 | £115.55 | £59.73 | ||
| Overall Cost for Comparison | 6.7% | 6.8% | 7.0% | 7.2% | 8.0% | ||
| 5 year term | Protected Monthly Payment | £646.96 | £433.79 | £327.21 | £220.62 | £114.03 | |
| Unprotected Monthly Payment | £587.08 | £393.64 | £296.92 | £200.20 | £103.48 | ||
| Overall Cost for Comparison | 6.9% | 7.2% | 7.4% | 8.0% | 9.5% | ||
- This table is for illustrative purposes only. Please contact us for a Key Facts Illustration to find out exact payment details.
- Products are subject to status and can be withdrawn at any time. They are only available to customers holding a Northern Rock Residential or Buy To Let Mortgage.
- The figures shown in this table have been calculated using the Repayment basis using daily interest calculations. Some loans may also be available on an Interest Only basis or may be only available on annual rest interest calculations. The APR does not take into account Payment Protection.
- Protected Monthly Payment includes Payment Protection. For example a loan of £10,000 with a 10 year term has an unprotected monthly payment of £115.55 and Payment Protection premium of £13.63 per month. Please see Payment Protection
- Payments assume that the £349 administration fee is paid in advance not added to the loan and paid back, with interest, over the term of the loan.
- Overall Cost Comparison assumes no insurance is taken.
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