Instalment Loan FAQs
Please click below for the answers to our most commonly asked questions. If you can't find the information you need, call us free on 0800 694 5566 and one of our advisers will be happy to help.
How much can I borrow?
Norton Finance can help you borrow anything from £3,000 to £500,000.
How long are the repayment terms?
Depending on your financial situation, and what you can comfortably afford to pay back every month, terms last from 1 to 30 years.
What are the interest rates?
The rate you’re offered depends on a variety of factors including your current credit score and credit history. Secured loan rates for homeowners start at 2.9%.
Are there any loan fees?
We’re a broker – not a bank. We receive a commission from the lender once a loan is completed, and charge a broker fee on secured loans. This can go up to 12.5% of the loan amount, to a maximum of £3,995. We do not charge fees on unsecured loans.
Can I pay off a loan early?
It’s always possible to pay off the balance in full at any time, when you take out a loan. However, choosing to repay the debt in full may incur an additional fee for Early Repayment. This is calculated on the basis of the interest that won’t be paid as a result of paying off the loan early.
Can I take a break from paying back my instalment loan?
Some lenders offer ‘payment holidays’ which allow you to take a break from repayments. However, this might have a negative effect on your credit report. Check the terms before you sign up.