Eligibility requirements
You are welcome to apply for a loan if you:
- Are working, retired or receiving disability living allowance
- Are aged 22 or over
- Are resident in England, Scotland or Wales
- Have a bank or building society current account which accepts Direct Debits
- Do not have any County Court Judgements
- We accept sole & joint applications
- In the case of a joint application you must reside at the same address as your co-applicant
Loan details
- Loans are not available for business or investment purposes
- Rate available will depend on your loan amount and personal circumstances.
- Repayments must be made by Direct Debit
- If you call us, telephone calls may be recorded
Fees and charges
When you take out a Lombard Direct personal loan, there are:
- No set up costs
- No administration costs
You will only be required to pay a charge:
| Fee |
|
Reason |
|---|---|---|
| £45 |
|
Express Next Working Day Transfer. Payable if you choose to receive your loan funds by next working day transfer. |
| £25 |
|
Late Payment Charge. This is only charged if a customer has previously been sent a first reminder letter, or if a Default letter or Formal Reminder is sent. |
| £25 |
|
For an unpaid cheque, standing order or direct debit payment. |
| £25 |
|
For every letter sent because you are in breach of the loan agreement. |
| £1 |
|
For a photocopy of a personal loan agreement form. |
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Lombard Direct's APRs
The typical APR is the rate, at or below which, it is expected that at least 66% of customers will obtain. However, we use a process called 'credit scoring' that reviews the information you provide during your application regarding your personal circumstances and the loan amount you require.
This information provides an overall score, which is then used to determine a competitive APR based on your personal circumstances and the loan amount you want. This allows us to offer loans at a range of APRs to people that other lenders may turn away.
Back to TopA typical example
We use 'typical example' so you can see how much you would be required to repay each month and the total amount you would pay back for a loan amount at our typical rate.
If you apply online for a personal loan of £10,000 over 60 months
without optional payment protection insurance - 60 monthly payments of £198.94 are required.
The total amount payable would be £11,936.40, Typical
7.4% APR fixed (for loans from £7,500 to £14,999).
Whichever method you choose (Internet or phone), when you apply for your loan, we will tell you exactly which APR we can offer you.
Early settlement
If you decide to settle your loan early we will provide you with a settlement figure statement and this will provide you with details of any rebate due to you. We will send a copy of our 'Early Settlement' leaflet, which provides you with detailed information about early settlement, in your Loan Agreement Pack when you apply for a loan.
Back to TopLoan Payment Protection
Eligibility requirements
It is important to check that you qualify for the cover. To qualify you must, on the start date:
- Be aged 18-70
- Be named on the agreement as the insured person
- Be working (including self-employment) for at least 16 hours per week, in the UK, or where applicable, You are on statutory maternity or paternity leave, maternity or paternity absence; or retired
In relation to a joint loan application, Loan Payment Protection is only available for the first named applicant
For details of cover depending on your employment status and age please see Section 3 of the policy document.
Important
The cover is subject to exclusions, all of which are fully explained in Section 4A and 4B titled "What Are You Not Covered For" in the policy document. Listed below are the significant exclusions and limitations for your information.
| Type of cover |
|
Significant Exclusions and Limitations |
|---|---|---|
| Unemployment |
|
|
| Accident and Sickness |
|
|
| Life, accidental death and Major Illness cover |
|
|
| Accidental injury |
|
|
| Hospitalisation |
|
|
All elements of Loan Payment Protection are underwritten by UK Insurance Limited, with the exception of life insurance protection which is underwritten by Direct Line Life Insurance Company Limited. Both companies are authorised and regulated by the Financial Services Authority.
If you are not entirely satisfied with the protection provided you may, within 30 days of the start date, cancel your cover and receive a refund of any premium paid, providing no claim has been made. For full details on how to exercise your right of cancellation please see the policy document.
Back to TopHow to complain
Lombard Direct is committed to providing the highest standard of customer service to all our customers. However, in the unlikely event of a complaint, we will do everything possible to ensure it is dealt with quickly and fairly.
Telephone
To make a complaint by phone, please contact us on 0800 051 8448. If our Customer Advisors are unable to resolve your complaint, we will arrange for the relevant person to investigate the complaint on your behalf.
In writing
Please write, e-mail or fax your complaint to:
Customer Feedback
Lombard Direct
250 St Vincent Street
Glasgow
G2 5SH
E-mail: feedback@lombarddirect.net
You should be aware that sending information by Internet email is not a secure method of transferring information and confidentiality cannot be guaranteed
Fax: 0141 308 4026
If your complaint involves a third party
If you have a complaint relating to any third party referred to you by Lombard Direct, for example - an insurance provider, you should still phone 0800 051 8448. or write to us at the above address.
Financial Ombudsman Service
The Financial Ombudsman Service has been set up by our regulator, the Financial Services Authority, to provide consumers with a free, independent service for resolving disputes with financial firms.If we have been unable to resolve your complaint within 8 weeks, you can refer your complaint to the Financial Ombudsman Service.
Or, if all reasonable avenues to resolve your complaint have been exhausted, we will send you a "final response" letter.
This will allow you to refer your complaint to the Financial Ombudsman Service, who, once contacted, will liaise with Lombard Direct on your behalf. The Financial Ombudsman Service will then inform you directly of their decision.
The Financial Ombudsman Service contact details are:
The Financial Ombudsman Service
South Quay Plaza
183 Marsh Wall
London E14 9SR
Telephone enquiries: 0845 080 1800
Fax enquiries: 0207 964 1001
E-mail: enquiries@financial-ombudsman.org.uk
Company details
- Lombard Direct is a trading name of The Royal Bank of Scotland plc
- Registered in Scotland: No. 90312
-
Registered Office: 36 St Andrew Square Edinburgh EH2 2YBThe Royal Bank of Scotland
is authorised and regulated by the Financial Services Authority. The Bank is entered in the FSA's Register and its Register number is 121882. The FSA's Register can be accessed at www.fsa.gov.uk/register/. The Bank's registered VAT number is GB 243852752. - "Lombard Direct, the telephone character and 0800-2-15000" are registered trade marks
- Lombard Direct subscribes to the Banking Code. The code sets out the standards of banking practice we must keep to. You can ask us for copies of the code by visiting Banking Code website.
Terms & Conditions
We recommend you read the full Terms and Conditions before accepting any loan offer.
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