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Your options for borrowing more

We want you to find the most suitable option. When you get a quote for borrowing more, we'll give you some options to choose from. We'll base our quote on:

  • the amount left on your current loan
  • the extra amount you want to borrow
  • the number of years you want to repay over, and
  • our view of your circumstances.

If you have a Nationwide loan

You can choose to:

  1. Get a new loan that pays off your current loan and gives you the extra money you need. You'll then have 1 loan with a new interest rate and monthly repayments.
  2. Take out a second loan. This means you’ll have a separate loan alongside your existing one. You’ll repay the loans separately, which means you’ll have 2 monthly repayments to budget for. Your existing loan will remain under its original terms and interest rate.

You can’t have more than 2 Nationwide loans at once. If you have 2 Nationwide loans already you can:

  • combine an existing loan with a new one, keeping the other loan separate.
  • combine both existing loans with a new one. You’ll then have 1 loan with a new interest rate and monthly payments.

Each loan will have a separate monthly repayment, as well as an interest rate that may be different from your initial loan. This could mean you end up paying more interest than before.

Note:

You can’t borrow more than £25,000 total in personal loans from Nationwide, whether applying alone or jointly.

To apply for a loan

You can apply if:

  • you have a monthly income of £700 after tax.
  • you live and work in the UK.
  • you’re between 18 and 79 years old.
  • you’re a member of Nationwide. You're a member if you have a current account, mortgage or savings account with us.

If you’re applying for a joint loan, other criteria will apply.



Related links

Other ways to borrow

A loan might not always be the right way to borrow the money you need. There might be a more suitable option for your financial situation. Learn about:


Nationwide adheres to The Standards of Lending Practice which are monitored and enforced by the LSB: www.lendingstandardsboard.org.uk (opens in a new window)