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Flexible loan vs No redemption penalty
tonyrancid
Posts: 15 Forumite
in Loans
I want a loan for £5500.
I will be able to pay this off over 2 years, but I should be able to do better than this, possibly in 10 months.
I can get a bog standard loan with no redemption policy cheaper than a flexible loan, but do no redemption policys (eg Northern Rock) allow overpayments?
Does this make sense?
Am I missing something?
Is there a big difference?
Thanks for your help
tr
I will be able to pay this off over 2 years, but I should be able to do better than this, possibly in 10 months.
I can get a bog standard loan with no redemption policy cheaper than a flexible loan, but do no redemption policys (eg Northern Rock) allow overpayments?
Does this make sense?
Am I missing something?
Is there a big difference?
Thanks for your help
tr
0
Comments
-
I think Egg and Cahoot do flexible and no early redemption penalty loans - maybe you need to do more research and look at some more companies.
Don't worry too much about the rate as you are paying it back over such a short time. Would you be able to get a credit card at 0%. Capital one have one until Jan 2007 - 15 months.0
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