Can I add more to an existing Sainsburys bank loan?

minibbb

Hi

I currently have an £11k loan with Sainsburys bank, taken out in January of this year at about 8.2% IIRC. The loan was to fund a car and costs me £273 over four years.

Im currently in the process of sorting out the installation of central heating within my flat and this will cost approx £3500.

My question is, can I add this to my existing loan or will it will a separate loan (at a higher rate) running alongside?

Otherwise, would a credit card or overdraft be better to fund the extra cash? At least this way I can pay chunks of the balance off as I wish, more of a financial burden hanging over me though I would have thought!

Many thanks in advance for any ideas!

aj2703

My advice would be to phone them and ask. Can't do you any harm if you try.

_Andy_

You can't add to the existing loan. It would either be one brand new one or a new one alongside.