Norton Finance has been operating for over 40 years and helps people turned down by high street lenders. They offer their customers a dedicated account manager and 24/7 call service in case of problems.
Norton Finance acts a little like a comparison site, except they handle the entirety of the application process.
Norton Finance is a member of a number of official industry bodies, including the Association of Mortgage Intermediaries (AMI) and the Association of Finance Brokers (AFB), and is authorised and regulated by the Financial Conduct Authority (FCA).
They search a market of over 600 products to find the right loan for the customer with a soft search which won’t affect their credit score. A customer would only qualify for a secured loan if they’re a homeowner.
Once a customer begins the online application, Norton Finance will get in touch over the phone to go over a few details of the application. Further information will be required at this point.
This information includes:
- Personal financial details
- Employment status
- Details of your income
It’s likely Norton Finance will also request information regarding what the customer plans to use the loan for and more information about their home.
Rates start at 2.99% variable. Norton Finance also have a range of plans with rates up to 65.2%, giving them the flexibility to help their customer find a loan that suits their needs.
A representative example from Norton Finance is a loan of £10,000 over 10 years at an Annual Interest Rate of 5.14% (variable), the customer will make 120 payments of £122.71 per month.
The total amount repayable will be £14,725.20. This includes a lender fee of £495 and a broker fee of £1,000, both of which have been added to the loan. The overall cost for comparison is 8.6% APRC representative.
The maximum APR is 65.2%.
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Other Financial Services
As well as Secured Loans, Norton Finance also provide a range of other loans.
Low Interest Loans
Norton Finance offers their customers Low Interest Loans. Low Interest Loans can be borrowed using a secured or unsecured loan.
The interest rates offered will vary depending on certain factors. Norton Finance’s interest rates start from 3.37%.
The amount a customer can borrow depends on their personal situation. Norton Finance provides secured and unsecured loans, starting from £3,000, going all the way up to £500,000.
- Unsecured personal loan – borrow up to £25,000
- Secured loan – borrow up to £500,000
The large variety of lenders Norton Finance work with provides them flexibility. It means they can offer repayment terms available from one year to 30 years (maximum 10 years for unsecured loans).
Debt Consolidation Loans
A consolidation loan allows you to bring together your existing debts into a single monthly payment with one interest rate.
They work by giving a customer the money to pay off all their existing loans, credit cards or other debt amounts and replace them with a single, fixed-rate monthly repayment.
The loans Norton Finance find for a customer could allow them to borrow from £3,000 to £500,000 to consolidate existing loans, over a period of one to 30 years.
Bad Credit Loans
Norton Finance specialises in finding the right loans for customers with low credit ratings.
Depending on the type of bad credit loan the customer wants, they can borrow from £3,000 up to £500,000.
Repayments on an unsecured loan can be spread over a period of one and seven years. A secured loan can be repaid over terms ranging from three to 30 years.
An unsecured loan lets you borrow money even if you don’t own your own property. This is the opposite of a secured loan which might be taken out against a property or car.
Interest rates are generally higher on unsecured loans because the lender doesn’t have security, such as property, to protect the money they’ve lent you.
Customers of Norton Finance can borrow from £3,000 to £25,000 as an unsecured loan and repayment terms range from one to seven years.
Bridging loans can typically be used to buy a property or clear a mortgage. These types of loans have high interest rates and should only be used as a short time solution.
Customers of Norton Finance can borrow between £3,000 and £500,000. There are other fees to consider with bridging loans, including exit and valuation fees.
Some bridging loans will only be offered when the customer has a firm idea of when they can repay the loan. For example, a customer could apply with the lender’s understanding that the debt will be repaid within 30 days.
A guarantor loan is great for a customer that may not have a perfect credit score. Norton Finance offers guarantor loans between £3,000 to £150,000.
The repayment terms for this loan is between one to five years.
Self Employed Loans
Self-employed loans are available as either secured or unsecured borrowing. The customer will have access to loans from £3,000 to £500,000.
The repayment terms start at one year and go up to 30 years.
Norton Finance Reviews and Ratings
Norton Finance has received mostly positive reviews across sites such as Trustpilot, Google Reviews and Feefo. The number of reviews left across these sites is smaller than the number left for other finance companies.
Norton Finance does have a Facebook account which has 629 likes and is followed by 671 people.
They also have a Twitter account with 465 followers.
Most customers have praised the good customer service they’ve received from Norton Finance and the lack of ‘pushy salespeople’ involved in their service.
Some customers have reviewed that they were unhappy with the lack of communication they received from the company.
Trustpilot – 3.5/5 (Based on 10 reviews)
Feefo – 4.7/5 (Based on 87 reviews)
Google Reviews – 4/5 (Based on 74 reviews)
- Huge range of loans available for different needs
- Loans available up to £500,000
- Over 40 years experience
- Positive customer reviews
- Competitve interest rates
- Limited information on timeframe of receiving money
- Early settlement quotes
If you’re looking to compare offers on secured homeowner loans, then let HouseholdQuotes help you find the best loan available for you!
For more information on home improvement loans, read our guide.