Northern Rock Personal Loans Review

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2.3 stars
Average rating for this product is: 2.3 out of 5

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HussainA's Review of Northern Rock Personal Loans

20th Jun 2007

Overall Rating

0 stars
  • Value for money
    0 stars
  • Loan Rate
    6.9
Bad Points

I applied for a personal loan online. I was advised that I'd hear of a decision in 48 hours. 8 days later I had heard nothing, so I called them and they said that I'd been declined and a letter should have been sent out. I asked why it wasn't - they weren't sure!


General Comments

I have a good credit rating and they couldn't tell me why I'd been declined! This whole experience has left a bad impression of Northern Rock, who seem very unprofessional! Will not consider them for future finance including mortgages!

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Members' Comments onHussainA's Review

  • 45lovers Rank: Major on 22nd Jun 2007

    I would have to disagree, Northern Rock have been excellent with me. I originally had a home improvement loan and when I saw a cheaper rate a year later I called and transferred my loan to the cheaper rate of 6.9%. The reason some people get turned down for loans is either on affordability or they think it is a risk. They can't just give a loan to anyone, as like all other high street banks they are bound by FSA guidelines of which they must comply. So please don't take it personally they are a good bank.

  • HussainA Rank: Lance Corporal on 23rd Jun 2007

    Any bank should offer a professional service regardless of whether you have been approved or not. I'm afraid on this occasion they have over promised by stating I would be contacted with a decision within 48 hours only for me to have to chase a decision over a week later. The service that I received was unprofessional and of poor quality. Others may have the opposite experience, which questions the consistency in their processes and procedures.