Barclays Loan Calculator
If you are looking for a loan whether you want to purchase a big ticket item like a car or cover the costs of home improvements you might have been trying to use the Barclays loan calculator to see how much you would need to repay.
Although calculators are a good way to get a rough idea of what your APR will be, the actual amount you are offered will depend on other things than just the amount you wish to borrow and the duration of the repayment term. Lenders will also consider other factors such as;
Barclays Personal Loans offer:
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Loans of £7,500 to £15,000 for terms between 2 and 5 years
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They will keep the personal rate you were offered regardless of what the reason for your loan application
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Price guarantee if you find another like for like personal loan with a better APR they will match it as long as you inform them within 30 days of the loan agreement being signed.
Barclays Homeowner Loans
Barclay’s homeowner loans are provided by Freedom Finance, you can borrow up to £250,000 with flexible repayment terms between 1 and 25 years. To be eligible for this you must be a homeowner residing in the UK over the age of 18 and have a minimum household income of £8,000 per annum.
Home owner loans are a way you can secure larger loans for things such as improving your home or to consolidate other debts.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. If you are at all unsure of the suitability of a particular product for your circumstances you should seek independent financial advice.
Things to consider
If you are thinking of taking on a loan of any type you need to consider that loans are long term commitments usually taking years to fully pay off. You therefore want to ensure you are getting the best loan you can to suit your specific needs.
As with other financial products like current accounts and credit cards interest rates on loans and other terms and conditions vary hugely between the different plans and lenders. The best option for you is not necessarily the best option for everyone.
You can use the calculator on this website to compare over 200 different loans from over 20 different providers, to help you see what the different options for you are.
Other options
You should think if you have any other options before borrowing money through a loan. If you have any savings it might be beneficial to use them instead, it may be that the interest you pay on a loan will be higher than any interest you earn in your savings.
There are other types of borrowing than personal and home owner loans such as authorised overdrafts and credit cards you might also wish to consider.