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Personal loan help and guidance

Get helpful information on Halifax personal loans. Whether you’re an existing customer or thinking of taking a loan out with us, we’re here to help.

Learn more about Halifax personal loans

Am I eligible for a Halifax personal loan?

You can apply for a loan if:

You are aged 18 years old or over, and a UK resident (except for the Channel Islands and the Isle of Man)
You are in paid employment or have a regular income
You have not been declined credit in the last month or have a history of bad credit.

Lending is subject to status and credit checks.

Learn more about loans eligibility

What is a car loan?

A car loan is just a Personal Loan you use to buy a car. Buying a car with a loan means you can buy directly from a dealer or private seller, and the car will be yours from day one.
Halifax current account holders can apply for between £1,000 and £50,000 (between £1,000 and £25,000 if you don’t have a Halifax current account).
You can ask for up to two repayment holidays a year (subject to approval). Interest will still be charged for the months that you don’t make any payments, so you’ll pay more interest overall and your original term will be extended.
No charge for making extra payments – if you pay off your loan in full earlier than agreed, you’ll be charged up to 58 days’ interest.

Representative Example

You could borrow £10,000 over 48 months with 48 monthly repayments of £236.73. Total amount repayable will be £11,363.04. Representative 6.6% APR, Annual interest rate (fixed) 6.41%.

This representative APR applies to loans of £7,500 to £25,000 over 1 to 5 years. Other terms and loan amounts are available at different rates. If you qualify for a loan, we’ll tell you the rate that applies when you get your personalized quote. The maximum APR you could be offered is 29.9% APR.

Other amounts and terms are available at different rates.

6.6% APR representative for loans of £7,500 to £25,000 over 1 to 5 years

Work out your budget

Use our handy Loan calculator to find out what your monthly repayments could be, and whether a car loan is the right option for you.

If you have a Halifax current account, you can get a personalised quote in just 1 minute through Online Banking.

Why choose Halifax?

Instant decision – Apply in minutes and get an instant decision on your loan when you apply online
Repayment holidays – Ask for up to two repayment holidays a year (subject to approval). Interest will be charged for the months you don’t make any payments. This means you’ll pay more interest overall and your original term will be extended.
Quick access to your loan – If you have a Halifax bank account, if approved you could have the money in your account in minutes. If you don’t have a Halifax bank account, if approved, you should get the money in your account within 2 hours. Sometimes it may take a bit longer – but no more than 3 working days.

Do your homework

Once you know your budget, you can start looking for cars in your price range. Be sure to compare prices of similar cars so you don’t pay more than you need to.

It’s also a good idea to get insurance quotes and check car tax rates before you buy. Keep in mind the cost of any work that might be needed too.

Take someone with you

When you’re viewing a car, try to go with someone who knows what to look out for. They will be able to spot any issues that you might have missed.

Make sure to view cars in daylight and always ask to test drive any car before you buy.

Apply for a car loan

With Halifax it’s easy to apply for a car loan. The decision whether to offer you a loan, the amount we’ll lend you and the interest rate will all be based on an assessment of your individual circumstances. If you hold a Halifax current account, in most cases we’ll tell you how much you can borrow and if you’re likely to be approved when you get your quote. This won’t affect your credit score. Check out how it works for existing and new customers:

Debt consolidation loan

It might be difficult to imagine from where you are now, but taking control of your existing borrowing can be simple. By bringing it all together in one place with a debt consolidation loan, you could get on track to becoming debt-free.

What is a debt consolidation loan?

This is a personal loan that you can use to pay off your other loans, credit or store card balances. 6.6% APR representative on loans of £7,500-£25,000 over 1-5 years. With a Halifax debt consolidation loan, we could help you manage your finances with: one fixed monthly payment. one firm date for when your borrowing will be paid off. one fixed interest rate. If you refinance existing debts, you may pay a higher rate of interest or make repayments over a longer term with a debt consolidation loan. This means you may pay more interest overall. If you qualify for a loan, we'll tell you the rate that applies when you get your personalised quote.

Move forward with a debt consolidation loan

Use our personal loan calculator to get an idea of what you could be repaying each month. Just pop in the total borrowing and the time you'd like to take to repay it.

Check your finances

Have a look at your regular outgoings versus what’s coming in. This is key to making your debt easier to manage. By doing this, you’ll see what you can afford to pay back each month. Make changes. To start, which direct debits/standing orders do you need? Are you paying for anything you don’t need like a magazine subscription or gym membership? Check all your accounts. Do you have any money you can use to pay off some of your existing borrowing? Interest you pay on a loan is usually higher than interest you earn on savings.

Plan ahead

Firstly, plan what home improvements need to be done and how long it will take. Get your project plan together, with a start and end date, check contractor availability, hunt around for competitive quotes and take seasonal influences into consideration.

Add up your borrowing

How much do you still need to pay off from your current borrowing? And what interest or charges are you paying? If you move any borrowing that you don't pay interest on, such as a 0% credit card, to a loan, you'll pay more interest. Decide which of your debts you want to bring together. Then, add them up to give you the total you plan to move to a debt consolidation loan. When adding up your debts, keep in mind there may be early settlement fees added by the lenders of your existing borrowing.

Work out the cost

Once you have a home improvement plan, you can work out the total cost of the project. Make sure you look at all the costs, and have a back-up plan in case of unexpected expenses or changes. Don’t forget to consider recurring costs for your project.

Consider energy efficient improvements

When considering home improvements, it is also worth thinking about what differences you can make which could help you save a few pennies as well as helping the planet. Take a look at our helpful guide to learn more.

Consider energy efficient improvements

Apply for a home improvement loan

With Halifax, it’s easy to apply for a home improvement loan. The decision whether to offer you a loan, the amount we’ll lend you and the interest rate, will all be based on an assessment of your individual circumstances. If you hold a Halifax current account, in most cases we’ll tell you how much you can borrow and if you’re likely to be approved when you get your quote. This won’t affect your credit score. Check out how it works for existing and new customers: