can i do this? question about a loan

foot_loose

halifax r offering 6.7% for loans of 7,000 and over. i want a loan for 5,000 and the intrest rate for this is 9.5%.

i was thinking,if i was to get a loan for 7,000 at 6.7% then 2 days later pay back 2,000 ( leaving me with 5,000 that i need) will the rate still be 6.7%???

the reasone i want 2 use halifax is coz i have accounts with them, and they can tranfer the cash to my account.

Rafter

I don't think this is a flexible loan so unfortunately your idea won't work.

If your credit rating is good you should be able to get a loan for 6.7% for £5,000.

Nationwide springs to mind, and with them everyone gets the same rate where some advertise say a 5.7% rate but 33% of customers get a much higher rate.

Nationwide can transfer the money to your account via bacs withing 3 days I should think.

R.