Important disclosure

Hoares Bank Personal Loans Overview

Hoares Bank logo

Hoares Bank is the oldest bank in the UK at 350 years old. They’re a private bank with only two London-based offices: on Fleet Street and Lowndes Street. The eleventh-generation descendants of founder Richard Hoare now run the business for their private clients. Since then, they’ve developed their own brand of “bespoke lending”, including personal loans.

Expecting an expensive holiday, or a much-needed repair to your primary home? Maybe the arrangements for your dream wedding are finally coming along as planned? You may want to try a Hoares Bank personal loan to pay for the costs. If you need an idea of the monthly payment, use the Hoares Bank personal loan calculator. With it, you can be sure the loan will fit within any budget of yours.

Terms from 1 to 10 years. Representative example: 5 year £10,000 loan with comparison rates from 2.8% to 49.9% APR would cost between £10,728 and £27,321, including fees. The interest can vary between £728 and £17,321.

Summary of Hoares Bank loans

An educated borrower is one who knows the features of a loan well. Since there are many lenders, the lending process will be different each time.

With a Hoares Bank personal loan, you can choose between two kinds of rates. First would be a fixed rate, and second would be a variable rate using a “base rate”. For the loan amount and term, you’ll discuss these with a Hoares Bank relationship manager.

Applicants should be at least 18 years old, and have a Hoares Bank current account. Once you start your application, it will go through the Hoares Bank review. You may need to ready your personal documents and information, in case these are needed. They may be about your identity, address, monthly income, and monthly expenses.

Do note also that Hoares Bank will do a credit check on you. This will be visible to other lenders, regardless of the credit decision. In turn, this may affect your credit score.

For any other information you might need, visit Hoares Bank’s website here.


 

Hoares Bank personal loan calculator

Loan Amount

£20,000

Term

3 months

Hoares Bank

Hoares Bank personal loans

EST Monthly Repayment
EST Monthly Repayment
N/A
APR
EST Monthly Repayment
12 months
to 60 months
EST Monthly Repayment
£7,500
to £25,000
We offer mortgages, loans, arranged overdrafts, guarantees and indemnities in a wide range of currencies. The rate of interest payable depends on the individual circumstances of each customer and may be subject to change in the future.

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Minimum and maximum loan periods vary between 1 month and 10 years. APR varies between 2.80% and 71.30% p.a. Total interest repayments vary between £435 and £1,019 over the life of the loan. *APR is based on an unsecured loan of R£15,000 for a term of 3 years. WARNING: This APR is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different APR. These rates can change without further notice. All rates quoted are per annum.

Hoares Bank loans FAQs

What is the meaning of “base rate”?

This would be whatever the Bank of England rate is when you apply. This only applies to Hoares Bank’s variable rates, and not their fixed rates.

What is the difference between a “variable” rate and a “fixed” rate?

With a fixed rate, your monthly payments stay the same throughout the loan term. On the other hand, your monthly payments change yearly with a variable rate. Find out how rates change your loan payments with the Hoares Bank personal loan calculator.

Will Hoares Bank require any security for my loan?

You do not need to provide security if you are applying for their personal loans. However, if you are looking at their secured loans, these require security.

Will Hoares Bank charge me any fees for my loan?

They will only charge you an arrangement fee and nothing else.

Will Hoares Bank allow me to apply for a loan without a current account?

Hoares Bank only accepts applications from current account holders at this time.

In what ways can I contact Hoares Bank about my loan?

You can send them an email at [email protected]. You can also call them at 020-7353-4522, or contact customer support on their website.

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