Alliance & Leicester secured personal loan launched

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Alliance & Leicester secured personal loan launched

The new Alliance & Leicester secured personal loan has been launched and it comes with a rate of 7.9 per cent.

It was designed by the financial services provider to bridge the gap between its mortgage range and its unsecured personal loan products.

Customers can borrow any amount between £5,000 and £50,000 over a period of between five and 25 years.

Darren Hickman, head of secured loans at Alliance & Leicester, said: "Whatever type of loan they [customers] are looking for, they will find Alliance & Leicester offers a very competitive deal."

The lender claims that applying for an Alliance & Leicester secured personal loan is quicker and easier than remortgaging.

Mr Hickman concluded by saying that Alliance & Leicester has a "responsible" approach to lending, which should ensure that people do not borrow more than the amount they can afford.

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