If you are searching for Eskimo loans, the best place to find one is online. Eskimo offer various loan amounts, typically between £5,000 and £25,000. Northern Rock is the parent company for Eskimo Loans.

Currently the fifth largest UK mortgage company, Eskimo Loans’ parent, Northern Rock, was founded on July 1, 1965 when Northern Counties Permanent Building Society and Rock Building Society merged. Northern Rock then merged with several smaller loan companies, one of which is Eskimo Loans.

Eskimo Loans Application Process

The loan process at Eskimo Loans is similar to almost other loan company. Certain credit criteria must be met. You must be employed and their interest rate of 10.9% is the typical rate at the present for most loans between £5,000 and £25,000. You can choose the repayment time of between 1 and 8 years.

Express service is available at Eskimo Loans and your loan can be deposited into your bank account usually by the next day once all criteria are satisfactorily met. The online loan application takes about 15 minutes to complete. Most of the time the decision on your application is instant. If not this usually means they need more information.

Eskimo Loans offer a loan calculator to figure out how much you want to borrow and the payment for the loan amount you choose. Eskimo Loans do not charge a set-up or arrangement fee. Eskimo’s interest rate of 10.9% is a fixed rate and remains through the life of your loan. Your payment comes out of your bank account and the option of choosing the day you want it paid is up to you.

Borrowing Eskimo Loans

If you choose to borrow £10,000 or more, proof of income must be submitted. This usually requires the last three months pay stubs or two years tax returns if you are self-employed. Eskimo Loans requires that your monthly payment for the loan be debited from your bank account. If you choose, an express loan can be arranged for a fee of £35 and the loan will be deposited into your account the same day you apply, barring any problems.

Should you become unable to work due to illness or an accident, Eskimo Loans has a program called Loanprotect Insurance. If you become ill or are in an accident that renders you unable to work for at least 30 days the payments will be made for you if you choose this option. A charge for this insurance is added to your loan amount. Even if you should lose your job and are unemployed for 30 days or more the loan payment can be made if you have Loanprotect Insurance from Eskimo Loans. In the event of your death, this insurance will pay the loan off leaving your relatives worry free about how to pay your debts.

Age requirements for a loan with Eskimo Loans are from 21 to 80. If a joint application for the loan is approved and you take Loanprotect insurance, the payments and payoff only apply to the first named borrower.

Eskimo Loans, as well as the parent company, Northern Rock, subscribes to the Banking Code, which sets certain standards for service. Should you need to read this code it is available upon request.