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UK Egg Loans
1. What kind of company is Egg Loan?
Egg Loan is a commercial lending company that was established in 1989. During the past 17 years, this company has distinguished itself as the largest pure online bank. It has over 3.6 million customers. The company originally started in Derby, so the main offices of the company are located there, but you can find a branch of this company all over the UK.
2. What makes Egg Loan different from other banks?
Egg Loan prides itself on offering truly flexible solutions to its customers. It doesnít matter what kind of loan you need or for what purpose, the loans officers will sit down with you and help you decide whatís best for you. In addition, the company always watches the markets so it can offer competitive rates.
3. What kinds of loans does Egg Loan offer?
Egg Loan offers home mortgages, credit cards, secured and unsecured personal loans, car loans and debt consolidation loans. Of course, the company does have to do a credit check on you before it can approve a loan and the results of this check will also determine the rate of interest that you pay.
4. How much would I have to repay on a £5000 loan from Egg Loan?
If you opt for Loan Payment Protection, the following table shows the repayment schedules for such a loan at 6.95% APR:
5. Is 6.95% APR what every person can expect in a loan?
No this is the best case scenario. Although 6.95% is the typical rate of interest on Egg Loans, the interest rate depends on individual circumstances. The normal rate for a borrower with an average credit rating and loan payment protection is about 11.5%
6. What is the interest rate without loan payment protection?
Without loan payment protection, you would be looking at an interest rate of 11.95 % or 14.95% depending on your individual circumstances. Again, the loans officer you deal with will do a credit check and look at your level of income to make a decision about the interest rate you will have to pay.
7. Will I have to pay a penalty if I pay the loan off early?
Egg Loan prides itself on not charging its customers an early pre-payment penalty. It knows that if you get the chance to have extra money, you will want to pay off your debts. It allows you to do this because then you will come back for another loan when you need one. In addition, Egg Loan provides optional three month breaks for you to use in times when other financial difficulties occur, such as medical expenses or job loss.
8. What are the benefits of getting an Egg Loan?
Since Egg Loan has a website, you donít have to go to any branch to submit your application. You can apply online quite easily. Before you do apply, you can use the easy loan calculator on the site to find out how much your monthly payments will be and how much you will repay including the finance charges.
9. Can I make my payments online?
Egg Loan has all kinds of online banking solutions. You can manage your bank account from your home computer, perform transfers between accounts and make your payments online. You can also apply for a credit card online and make the payments for this as well with your computer.
10. How can I contact Egg Loan?
The website for all your information about Egg Loan is http://loans.egg-online.co.uk/ This site will tell you everything you need to know about Egg Loan and the services it offers. According to the customer reviews, everyone is well pleased with this lender and will definitely use their services in the future when they need to borrow money.
11. What can these loans not be used for?
Egg Loans cannot be used for bridging finance, home purchase deposits, timeshares, business or illegal purposes.
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