Nationwide personal loan switcher offer relaunched

The Nationwide personal loan switcher offer has been relaunched in the run-up to Christmas.

Customers switching to Nationwide between November 14th and December 31st will be offered a rate of 6.7 per cent on their loan as well as receiving a cheque for £50.

Steven Clode, marketing director at Nationwide, said customers borrowing a personal loan often tend to stay with one provider for the duration of the term.

This means they could be "losing hundreds of pounds through paying higher rates than they need to".

Customers thinking of switching to Nationwide can use their online calculator to check whether swapping lenders could be beneficial.