Norwich Trust, previously known as UK Credit, targets homeowners exclusively for its unsecured personal loans, offering amounts between £3,000 and £20,000 with terms up to 10 years. Despite the unsecured nature of these loans, applicants must own a home to qualify. The transition from UK Credit to Norwich Trust has not altered the terms for existing customers. The application process can take a few days, which is slower compared to some lenders. Interest rates are notably high, especially for those with poorer credit histories, emphasizing the importance of considering affordability before applying. The loan offers no penalties for overpayments up to a specified limit and allows for early repayment with a potential interest charge.
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