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Loan claim: Nationwide cuts loan rates

Nationwide’s building society branch in Derbyshire is offering cheaper personal loans in spite of the fact that it will not be open for much longer.

According to the Telegraph, it has cut personal loan rates so that those borrowing between £7,500 and £15,000 can get a rate of five per cent while those borrowing between £5,000 and £7,500 will have a rate of 6.4 per cent.

This is only applicable for loans of between one and five years and for people with a particularly strong credit rating.

Yet these rates have been lowered, potentially enticing more customers, in spite of the fact that Nationwide has said that the Derbyshire building society will be closing,

Nationwide is planning to close down many of its building society branches, starting with Dumferline.

This could put many of its customers out of joint as a lot of them have not yet been transferred to its bank yet.

Jennifer Haines

Jennifer's speciality knowledge is credit card changes and balance transfers. ADNFCR-2776-ID-801582695-ADNFCR

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