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5.6% FIXED on loan 5k - 20k. Decent deal?

rizla01
rizla01 Posts: 7,256 Forumite
Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
Cahoot

Seem to be offering a pretty good deal at the moment.

It simply boggles the mind! cahoot's fixed-rate loan is so low, it's actually subterranean!

cahoot's fixed rate loan has an awe-inspiring APR rate of 5.6% on loans between £5K and £20K. One thing is certain... savvy spenders are about to evolve to a higher level of borrowing!
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Comments

  • Just got me a 5.6% Loan, was accepted straightaway on the internet application on Wednesday and received formal offer in post today.
  • daveboy
    daveboy Posts: 1,400 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Anyone would think the OP had a link to Cahoot...and I never knew post was delivered in the early hours of a Sunday morning.
  • owey
    owey Posts: 832 Forumite
    lucy2308 wrote:
    Just got me a 5.6% Loan, was accepted straightaway on the internet application on Wednesday and received formal offer in post today.
    Hi lucy2308, did Cahoot give you the loan?, I also have been excepted straight away on the net. Posted the loan agrement today, but it does say they will do there final checks when they receive the documents back. So I am in a bit of limbo until the middle of next week :rolleyes: .
  • ajbaker
    ajbaker Posts: 173 Forumite
    I thought my credit rating was reasonable, but when I appied for a Cahoot loan I was only offered a 7.7% rate as opposed to their headline 5.6%

    So I went elsewhere. Moneybackbank have just offered me their headline rate of 5.5% with very few questions. Ok, so the protection was being sold VERY heaviliy but a "no" at the appropriate place was sufficient.
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