Loans - Nationwide launches new loan offer

Details of a new personal loan offer have been unveiled by Nationwide.

Borrowers on the search for a loan may be interested in the launch of a new product from one building society.

Coming into effect today (January 5th), Nationwide is offering a personal loan charging typical interest of 7.6 per cent for its main FlexAccount customers.

Such an offer is available on loans of between £7,500 and £14,999.

And taking on such a loan could prove to be beneficial to those looking to consolidate their credit card debts, as the firm points out that doing so could see consumers reduce their monthly outgoings.

"For those who may have spent too much over the Christmas period and have several outstanding debts, a personal loan at a highly competitive rate may be the best solution," Richard Napier, head of credit cards and personal loans for Nationwide, states.

News of such a product comes as Cambridge News recently reported that overspending over the festive season could see people's finances left "worse for wear".

By Kate Guthrie