Alliance & Leicester Loans Review

Alliance & Leicester Loans was founded in 1985 when the building society with the same name decided to enter into the financial realm. The current bank status was awarded to the company in 1997. Alliance & Leicester Loans is particularly known for its excellent current account services. However, it also provides other services such as credit cards and personal loans.

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Some of the standard benefits offered by Alliance & Leicester Loans include:

• 0% balance transfer deal for first 12 months.
• 24 hour easy access to the account via phone or internet banking.

Alliance and Leicester are one of the most well known financial institutions in UK. Alliance & Leicester Loans are known for their highly competitive interest rates. The loan plans offered by them are quite simple and straightforward.

Consumers also have the facility to enjoy further subsidised rates by applying online. It allows the users to gain maximum benefits for their money. The loans offered by Alliance & Leicester range from £7,500 to £15,000.

Alliance & Leicester Personal Loans

The personal loans are offered in a variety of forms by Alliance & Leicester Loans. Before applying for any particular loan, it is necessary for the individual to try and find out what kind of loan do they actually need depending upon their circumstances.

Benefits of Alliance & Leicester Personal Loans

Alliance & Leicester loans boldly advertises about their low rate of interest of 8.9% APR. However, it is still advisable to go through the entire terms and conditions thoroughly before finalizing the loan. The application process is very straightforward and quick.

Limitations of Alliance & Leicester Personal Loans

• The lowest rates offered are only restricted to special kind of personal loans which start at £7,500.
• The APR is described as "typical" that means that the lower rate of interest is applicable only to 66% of all accepted loan applications. Hence, it is possible that an individual might not be entitled to low rate of interest even if his loan amount is higher than £7,500.
• The entire loan amount needs to be repaid within a period of five years. No extension is granted.

Alliance & Leicester Secured Loans

This secured loan offered by Alliance & Leicester helps you to pay the debts in small instalments over a longer period if time. This is a great option for those who intend to avail the loans for long time without much pressure of repayment.

Benefits of Alliance & Leicester Secured Loans

• You can borrow any amount from £5,000 to £100,000.
• The repayment period can be anything between 5 to 25 years.
• A debt calculator is provided using which you can find out the savings that you might get from this scheme.
• The fixed APR is 10.0% which can vary according to the loan amount.

Limitations of Alliance & Leicester Secured Loans

• Though it might seem to be an interesting option, you have to be a homeowner in order to avail this option. They only provide secured loans to people who have a home as collateral.