Flexible Loans
20 May 2003, 04:52 PM
#1
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Any companies other than Cahoot [img]images/smilies/mad.gif[/img] offering flexible loans at good rates?
Need 15k temporarily, and in a month or 2 will be paying off 10k of it and then just keeping the 5k to repay over the longer term......
Any thoughts?
Cheers
Neil
Need 15k temporarily, and in a month or 2 will be paying off 10k of it and then just keeping the 5k to repay over the longer term......
Any thoughts?
Cheers
Neil
21 May 2003, 12:30 PM
#6
cahoot advertise a low rate, but when I did the full application they offered 11.9????/ *****! I have a savings account with them and a very good credit record. I wrote to them saying fck off, Im going with egg
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21 May 2003, 01:46 PM
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The 5.9% Halifax loan is a secured loan...
Egg are doing 7.9% for loans of £15k, though they did offer me £7,500 at 6.9% unsecured to consolidate an existing loan and credit card.
Egg are doing 7.9% for loans of £15k, though they did offer me £7,500 at 6.9% unsecured to consolidate an existing loan and credit card.
21 May 2003, 03:06 PM
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Why not Cahoot out of interest?
Basically, I need a loan of about 5k long term and 10k extra for a couple of months until my house is sold, when I can pay back the 10k and just keep the 5. If I take out a normal loan I won't be able to do that, so really need one I can make overpayments into etc, like the cahoot one really.
21 May 2003, 11:48 PM
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I would have got a normal loan for 5k and stuck the rest on credit card temporarily for a month, but I'll end up paying a 300quid commission fee if I do that 
22 May 2003, 07:42 AM
#12
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If you've got equity in your property, try remortgaging with a current account mortgage. Got mine with Yorkshire Bank.
Put all you've got, and all you get into it and watch the 15k and the rest of your mortgage disappear.
Like most, I was on a 25yr period. Since switching to this I'll reduce total repayment time to 5 years (if I don't go mad spending), plus if you need cash you can still spend upto the amount you would have paid on a normal mort.
ie. borrowed £50k over 25yr, after 5yr balance of debt £0, equity in mortgage approx £40k. Either cancel loan or go buy a brand new Scooby, have a holiday and buy a Thai ladyboy.
Plus loan will be at mortgage rate, lower than loan rates.
Put all you've got, and all you get into it and watch the 15k and the rest of your mortgage disappear.
Like most, I was on a 25yr period. Since switching to this I'll reduce total repayment time to 5 years (if I don't go mad spending), plus if you need cash you can still spend upto the amount you would have paid on a normal mort.
ie. borrowed £50k over 25yr, after 5yr balance of debt £0, equity in mortgage approx £40k. Either cancel loan or go buy a brand new Scooby, have a holiday and buy a Thai ladyboy.
Plus loan will be at mortgage rate, lower than loan rates.
22 May 2003, 08:17 AM
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Biggest drawback with Cahoot is that the APR is variable on personal loans
Worked great for me, and I've had no problems so far.
The best bit for me was no early redemption penalty, whereas the Halifax wanted about two months payments extra AND higher interest rates.
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