Anyone got one of these ?? Me and the Enemy are going to take one out but from reading the Ts & Cs I cant see if there is the facility to overpay the monthly payments so that you pay the loan off earlier (similar principle to Virgin One/Woolwich Open Plan mortgages).

Can anyone help ?

 

you can make bigger payments if you want well i can anyway

 

I was looking at them and although they appear to be fairly flexible in regards to payments it appears their interest rates are variable. Over 4 years which I was looking to get my loan thats a bit concerning and put me off totally.

 

cahoot loans are very good (I worked for cahoot whilst building the value proposition, so no bias there ) but I prefered to dip into my 'overdraft' reserve with the Woolwich Open Plan ... seems to work for me as I'm only charged interest on what I'm borrowing and can pay it back whenever I want (as long as its before the term of the mortgage, which does require discipline and you ought to be careful here) which I like and works for me. In effect I'm borrowing at mortgage rates which is OK!

Cheers
Phil

 

I've had a Cahoot loan, which was originally taken out over about 5 years, but then I paid it off after 1 month with no penalties, and no problems.

 

What did you do to be able to pay it off in 1 month,

Win the lottery?

 

I didn't spend the money after all.

 

Goldfinger - just done the same mate. Cant believe i didnt think of it earlier !!

Cheers

Dave