Variable Rate Loan

A flexible loan with a variable rate

With this loan, the rate may vary, but the benefits don’t

Follows the market rate, so your monthly payments could fall or rise

No early repayment charges

A range of repayment options

Take a repayment holiday at the start or mid-term (conditions apply and the interest must still be paid)

Our Variable Rate Business Loan has been created for companies with an annual turnover up to £2m. We have other loans for businesses with a turnover above £2m.

This loan in detail…

Features

Variable rate of interest

If the market rate remains low or even falls, your monthly repayment will reflect that.

Variable rate of interest – in detail

What you should know

Over the life of the loan, if the base rate increases, your repayments will also increase. 

No early redemption charges

If you feel you can pay back the loan quicker, you won’t incur a penalty charge.

Borrow from £35,001 upwards

Borrow from £35,001 with no maximum upper limit. (subject to credit approval)

Need a repayment holiday?

You can take a repayment holiday at the beginning or mid-term. How flexible is that? But be aware, interest will accrue during any repayment holiday, meaning it may take longer to repay the loan and cost more in the long run.

Repayment Holidays – in detail

 

What you should know

  • During any Capital Repayment Holiday (where you take a break from paying off the principle of the loan) the interest must still be paid into a servicing account. Capital Repayment Holidays are subject to credit approval
  • You can take a mid-term repayment holiday
  • You can take a repayment holiday at the beginning of the loan term
  • You can do a tranche drawdown (take the loan in instalments) 

Terms are from 3 months to 25 years

A longer term means you can lower the repayments to suit your budget (you’ll pay more back overall though).

Benefits

Three repayment options

Choose the repayment option that suits you best.

Repayment options – in detail

Choose how you repay the loan from these three options:

  • Pay the Capital (lump sum) and Interest combined
  • Pay the Capital only
  • Pay the interest only.

Charges

Interest rate

Your interest rate will be set just above the NatWest Bank Base Rate.

Arrangement Fees

Arrangement fees may apply. It will depend on how much you want to borrow and for how long.

Security Fee

Any security fee will be charged in accordance with our Security Fee tariff/policy

Useful info about our Variable Rate Loan

Yes, you can. This loan is available for customers with a turnover of over £2million. 

No, you’re still very welcome to apply. We’ll just have to ask you a few more questions than we would if you were an existing customer.

Yes, you can take Capital Repayment Holidays at the beginning or mid-term (subject to agreement).

All assessments of eligibility for lending are done on the basis of the credit history of the individual, business owners or directors. Credit Scoring is part of the process used by banks and other lenders to help assess whether they will lend to you. 

Ready to apply

Great, thanks for choosing our Fixed Rate Loan. Let's get started. Are you a…

What kind of business are you?

So, you’re a sole trader. Here are the things we’ll need from you…

Personal details

  • Full name, date and place of birth
  • Home addresses (and the date you moved there)
  • Contact details
  • Personal details for any directors, partners, members or signatories.

Business details

  • Trading and any registration addresses
  • Business contact details
  • Information about your business activity and number of employees
  • Any other trading names your business uses
  • Details of when your financial year ends

Registration for tax purposes

  • Details of any countries you (or your business) are registered in

Year-end accounts

  • Details of your business’s or cash flow forecasts

Loan details

  • What you want the loan for?
  • How much you need to borrow?
  • How long you want to repay the loan over (the term)?

And now for the important legal stuff…

To apply for our Variable Rate Loan, you must meet these requirements

  • You’re aged 18 or over
  • You’re a director of the business you’re applying on behalf of
  • You have not been declared bankrupt or received a County Court Judgement (CCJ) or Court Decree

Please take some time to review the important info

Are you ready to continue?

Why not give our Business Team a call?

They can discuss your lending needs

Lines are open 9.00am-5.00pm Monday to Friday. Calls may be recorded and call charges from residential, business and mobiles vary, depending on your telephone operator's tariff.

So, you’re a partnership. Here are the things we’ll need from you…

Personal details

  • Full name, date and place of birth
  • Home addresses (and the date you moved there)
  • Contact details
  • Personal details for any directors, partners, members or signatories.

Business details

  • Trading and any registration addresses
  • Business contact details
  • Information about your business activity and number of employees
  • Any other trading names your business uses
  • Details of when your financial year ends

Registration for tax purposes

  • Details of any countries you (or your business) are registered in

Year-end accounts

  • Details of your business’s or cash flow forecasts

Loan details

  • What you want the loan for?
  • How much you need to borrow?
  • How long you want to repay the loan over (the term)?

And now for the important legal stuff…

To apply for our Variable Rate Loan, you must meet these requirements

  • You’re aged 18 or over
  • You’re a director of the business you’re applying on behalf of
  • You have not been declared bankrupt or received a County Court Judgement (CCJ) or Court Decree

Please take some time to review the important info

Are you ready to continue?

Why not give our Business Team a call?

They can discuss your lending needs

Lines are open 9.00am-5.00pm Monday to Friday. Calls may be recorded and call charges from residential, business and mobiles vary, depending on your telephone operator's tariff.

So, you’re a limited company. Here are the things we’ll need from you…

Personal details

  • Full name, date and place of birth
  • Home addresses (and the date you moved there)
  • Contact details
  • Personal details for any directors, partners, members or signatories.

Business details

  • Trading and any registration addresses
  • Business contact details
  • Information about your business activity and number of employees
  • Any other trading names your business uses
  • Details of when your financial year ends

Your registered company number

  • This is provided by Companies House when you register your limited company with them. Please make sure your Limited Company has already been registered with Companies House for at least 48 hours before starting your application with us.

Registration for tax purposes

  • Details of any countries you (or your business) are registered in

Year-end accounts

  • Details of your business’s or cash flow forecasts

Loan details

  • What you want the loan for?
  • How much you need to borrow?
  • How long you want to repay the loan over (the term)?

And now for the important legal stuff…

To apply for our Variable Rate Loan, you must meet these requirements

  • You’re aged 18 or over
  • You’re a director of the business you’re applying on behalf of
  • You have not been declared bankrupt or received a County Court Judgement (CCJ) or Court Decree

Please take some time to review the important info

Are you ready to continue?

Why not give our Business Team a call?

They can discuss your lending needs

Lines are open 9.00am-5.00pm Monday to Friday. Calls may be recorded and call charges from residential, business and mobiles vary, depending on your telephone operator's tariff.

So, you’re a limited liability partnership. Here are the things we’ll need from you…

Personal details

  • Full name, date and place of birth
  • Home addresses (and the date you moved there)
  • Contact details
  • Personal details for any directors, partners, members or signatories.

Business details

  • Trading and any registration addresses
  • Business contact details
  • Information about your business activity and number of employees
  • Any other trading names your business uses
  • Details of when your financial year ends

Your registered company number

  • This is provided by Companies House when you register your limited company with them. Please make sure your Limited Company has already been registered with Companies House for at least 48 hours before starting your application with us.

Registration for tax purposes

  • Details of any countries you (or your business) are registered in

Year-end accounts

  • Details of your business’s or cash flow forecasts

Loan details

  • What you want the loan for?
  • How much you need to borrow?
  • How long you want to repay the loan over (the term)?

And now for the important legal stuff…

To apply for our Variable Rate Loan, you must meet these requirements

  • You’re aged 18 or over
  • You’re a director of the business you’re applying on behalf of
  • You have not been declared bankrupt or received a County Court Judgement (CCJ) or Court Decree

Please take some time to review the important info

Are you ready to continue?

Why not give our Business Team a call?

They can discuss your lending needs

Lines are open 9.00am-5.00pm Monday to Friday. Calls may be recorded and call charges from residential, business and mobiles vary, depending on your telephone operator's tariff.

Do you have a Relationship Manager?

Call your Relationship Manager

You should have a direct number for them. You can discuss applying for our variable rate loan with them. They can start the application for you and arrange to get the appropriate signatures. 

Business and Relationship Managers are available 9am-7pm Monday to Friday and 9am-2pm on Saturdays.

What kind of business are you?

So, you’re a sole trader. Here are the things we’ll need from you…

Personal details

  • Full name, date and place of birth
  • Home addresses (and the date you moved there)
  • Contact details
  • Personal details for any directors, partners, members or signatories.

Business details

  • Trading and any registration addresses
  • Business contact details
  • Information about your business activity and number of employees
  • Any other trading names your business uses
  • Details of when your financial year ends

Registration for tax purposes

  • Details of any countries you (or your business) are registered in

Year-end accounts

  • Details of your business’s or cash flow forecasts

Loan details

  • What you want the loan for?
  • How much you need to borrow?
  • How long you want to repay the loan over (the term)?

And now for the important legal stuff…

To apply for our Variable Rate Loan, you must meet these requirements

  • You’re aged 18 or over
  • You’re a director of the business you’re applying on behalf of
  • You have not been declared bankrupt or received a County Court Judgement (CCJ) or Court Decree

Please take some time to review the important info

Are you ready to continue?

Why not give our Business Team a call?

They can discuss your lending needs

Lines are open 9.00am-5.00pm Monday to Friday. Calls may be recorded and call charges from residential, business and mobiles vary, depending on your telephone operator's tariff.

So, you’re a limited company. Here are the things we’ll need from you…

Personal details

  • Full name, date and place of birth
  • Home addresses (and the date you moved there)
  • Contact details
  • Personal details for any directors, partners, members or signatories.

Business details

  • Trading and any registration addresses
  • Business contact details
  • Information about your business activity and number of employees
  • Any other trading names your business uses
  • Details of when your financial year ends

Your registered company number

  • This is provided by Companies House when you register your limited company with them. Please make sure your Limited Company has already been registered with Companies House for at least 48 hours before starting your application with us.

Registration for tax purposes

  • Details of any countries you (or your business) are registered in

Year-end accounts

  • Details of your business’s or cash flow forecasts

Loan details

  • What you want the loan for?
  • How much you need to borrow?
  • How long you want to repay the loan over (the term)?

And now for the important legal stuff…

To apply for our Variable Rate Loan, you must meet these requirements

  • You’re aged 18 or over
  • You’re a director of the business you’re applying on behalf of
  • You have not been declared bankrupt or received a County Court Judgement (CCJ) or Court Decree

Please take some time to review the important info

Are you ready to continue?

Why not give our Business Team a call?

They can discuss your lending needs

Lines are open 9.00am-5.00pm Monday to Friday. Calls may be recorded and call charges from residential, business and mobiles vary, depending on your telephone operator's tariff.

So, you’re a partnership. Here are the things we’ll need from you…

Personal details

  • Full name, date and place of birth
  • Home addresses (and the date you moved there)
  • Contact details
  • Personal details for any directors, partners, members or signatories.

Business details

  • Trading and any registration addresses
  • Business contact details
  • Information about your business activity and number of employees
  • Any other trading names your business uses
  • Details of when your financial year ends

Registration for tax purposes

  • Details of any countries you (or your business) are registered in

Year-end accounts

  • Details of your business’s or cash flow forecasts

Loan details

  • What you want the loan for?
  • How much you need to borrow?
  • How long you want to repay the loan over (the term)?

And now for the important legal stuff…

To apply for our Variable Rate Loan, you must meet these requirements

  • You’re aged 18 or over
  • You’re a director of the business you’re applying on behalf of
  • You have not been declared bankrupt or received a County Court Judgement (CCJ) or Court Decree

Please take some time to review the important info

Are you ready to continue?

Why not give our Business Team a call?

They can discuss your lending needs

Lines are open 9.00am-5.00pm Monday to Friday. Calls may be recorded and call charges from residential, business and mobiles vary, depending on your telephone operator's tariff.

So, you’re a limited liability partnership. Here are the things we’ll need from you…

Personal details

  • Full name, date and place of birth
  • Home addresses (and the date you moved there)
  • Contact details
  • Personal details for any directors, partners, members or signatories.

Business details

  • Trading and any registration addresses
  • Business contact details
  • Information about your business activity and number of employees
  • Any other trading names your business uses
  • Details of when your financial year ends

Registration for tax purposes

  • Details of any countries you (or your business) are registered in

Year-end accounts

  • Details of your business’s or cash flow forecasts

Loan details

  • What you want the loan for?
  • How much you need to borrow?
  • How long you want to repay the loan over (the term)?

And now for the important legal stuff…

To apply for our Variable Rate Loan, you must meet these requirements

  • You’re aged 18 or over
  • You’re a director of the business you’re applying on behalf of
  • You have not been declared bankrupt or received a County Court Judgement (CCJ) or Court Decree

Please take some time to review the important info

Are you ready to continue?

Why not give our Business Team a call?

They can discuss your lending needs

Lines are open 9.00am-5.00pm Monday to Friday. Calls may be recorded and call charges from residential, business and mobiles vary, depending on your telephone operator's tariff.

Additional support for your business

What we look for when lending money

Before approving your request for funding, we need assurance that you have the ability to repay and you can keep up payments over a period of time.

Funding your business

Funding is crucial for most businesses, as an initial cash injection is often needed. You need to think about how much money you'll need and what type of funding will suit you best. 

Cashflow and collecting money

Good cashflow management is key to keeping a business afloat. We’ve got a seven-step guide to help you keep your cashflow nice and steady.

Something else we can help you with?