We know that not everyone gets the best deal from their bank. That’s why we’ve chosen to do things differently.
A cooling off period allows you to cancel or withdraw from your loan agreement for a period of time after you’ve signed. At Shawbrook, the cooling off period on an unsecured loan starts from when you sign the Credit Agreement and ends 14 days from the day after the date we inform you in writing that we have executed (signed) the agreement.
In this time, you’re free to cancel or withdraw without any fee. If you choose to cancel or withdraw you must pay the full funds back within 30 days.
If you meet the below criteria, you can apply for a Shawbrook personal loan:
For more information, visit the Shawbrook website.
Shawbrook do not have any branches, we have an online service and you can contact us by email or phone.
A credit score is a tool used by lenders to help determine whether you qualify for credit. Using the information on your credit report and any additional information you supplied as part of your application, lenders use a mathematical model to calculate a score that represents your credit history.
Car loan rates refer to either the interest rate or Annual Percentage Rate. This applies to the amount that a lender will charge for a loan to finance the purchase of a car.
An APR (Annual Percentage Rate) is a calculation that takes into account the interest rate of a loan and any other additional fees a lender may charge to repay the loan. A car loan APR is the rate you pay that accounts for the interest charged plus all other fees you have to pay to get your loan.
A car loan will not affect your current mortgage repayment but will be an additional monthly commitment to make. Before taking a loan, you should ensure you are comfortable that you can afford the repayments for both your mortgage and the loan.
A Shawbrook wedding loan is an unsecured personal loan that can be put towards the cost of your wedding.
Shawbrook bank provide wedding loans. Loans are available from £1,000 - £35,000 over a 1-7-year term.
A Shawbrook wedding loan is a type of personal loan which is an unsecured form of credit.
A Shawbrook debt consolidation loan is an unsecured personal loan that could be taken out to repay other debts and have one monthly payment. However, the terms may be different, and the overall cost could increase so read the terms carefully before entering into an agreement.
A debt consolidation loan works by taking out one single loan to repay other loans so that you only have one fixed monthly repayment. Depending on your situation, this could be a more cost-effective option, however, the terms may be different, and the overall cost could increase so read the terms carefully before entering into an agreement.
Although it is possible to get a loan if you have bad credit, it is unlikely that you will be accepted for a loan with Shawbrook Bank.
We take our responsibilities seriously. When you apply for a loan with us, we’ll look at your personal circumstances and will only lend to you if we are comfortable that you can afford the loan. When considering your suitability for a loan, we’ll use your credit history along with other information you provide to decide if we can lend to you. If you have a history of missing payments or a poor credit history, you’re unlikely to be offered a loan by Shawbrook Bank.
There are also other reasons why you may not be offered a loan, even if you have a good credit history. More information can be found in our guide about being turned down for a loan despite having good credit.
However, there are lenders who may still offer loans to those with bad credit. Beware of high fees and read your terms and conditions carefully. If you are offered a loan despite bad credit, make sure you’re able to comfortably afford the monthly repayments and check whether your new loan cost (the amount borrowed and the total interest you will repay) is not greater than your existing debt.
A debt consolidation loan can help you to merge some or all of your existing debts into one which can make managing your payments easier. If your credit score is worse than it was when you took out your previous credit, it may not be a suitable option for you. If you want to understand more about your credit score and why you might be classed as having ‘bad credit’, visit our guide on 7 reasons your credit score goes down.
If you are struggling with debt and would like support, we recommend speaking to StepChange. The debt charity helps over 650,000 people a year with debt-related problems and offers free, confidential, and expert advice and money guidance online or over the phone.
If you’re a Shawbrook customer and are having financial difficulties, visit our help page.
A range of different debts and loans can be consolidated. The use of a debt consolidation loan can differ from providers so contact your provider to understand more about their debt consolidation loans.
A Shawbrook home improvement loan is an unsecured personal loan which can be used to finance home improvements.
For tax advice please contact HMRC or a qualified accountant.
There are usually two types of home improvement loans, secured and unsecured.
Shawbrook offers unsecured personal loans for home improvement purposes. For more information on additional borrowing on your existing mortgage you should contact your mortgage provider.
If you have applied online with one of our partners we will send an e-signature pack instead.
If you have signed a paper agreement you will be given a copy of the Credit Agreement at the point of sale and will receive a welcome letter in the post.
Yes, if you would like to change your bank details or payment date, please contact us using the following details:
If you have an interest-bearing loan for the product you’ve bought through one of our partners, interest is calculated daily but applied monthly.
As well as our personal loans and mortgages, Shawbrook offers finance products through an approved network of partners from retailers, home improvement companies and holiday ownership sectors. These finance products help customers spread the cost of larger purchases and make the finance arrangements at the point of purchase. We offer a variety of products including interest free and interest-bearing finance.