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Abbeyloan

• a loan with fixed affordable repayments for a holiday, car, home improvements
• consolidate any other debts into one convenient and affordable payment

Secured Personal Loan

• Home Improvement Loan is one of the most efficient ways to borrow money for a major project such as a new kitchen or a conservatory

Both these Abbey National loans are secured against your property and are available to you if you have an Abbey National mortgage or you own your home free of mortgage. The interest rate you pay will depend on the type of mortgage you currently have.

Credit Scoring

Abbey National, like many other financial organisations, uses a process called 'credit scoring' to assess the potential risk involved in extending credit or loan facilities to you. Abbey National applies the principles of the Office of Fair Trading Guide to Credit Scoring to all applications.

When you apply, they will ask your permission to approach a credit reference agency to see if it has any information about you. Their decision will be based on the details you provide, together with information they receive about you from the credit reference agency.

Information you give us, such as: your age, occupation, income, existing loan commitments, the purpose of the loan and so on, are allocated points. Points are also allocated to the details obtained from the credit reference agency, such as: how well you have managed previous and existing accounts with other organisations.

They add all the points together to arrive at an overall score. This score is then used to help them decide whether or not to accept your application.