📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Need advice for a 50k loan?

Hi all,
was hoping someone out here could offer me advice on getting a loan for an extension. i need to borrow 50k and the cheape option i think is to borrow with my mortgage company, they offer 4.99% interest.
any advice would be much apprietiated.
Thanks
Colacards

Comments

  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    If you're referring to unsecured lending then you won't get anything as low as that.
  • colacards wrote: »
    Hi all,
    was hoping someone out here could offer me advice on getting a loan for an extension. i need to borrow 50k and the cheape option i think is to borrow with my mortgage company, they offer 4.99% interest.
    any advice would be much apprietiated.
    Thanks
    Colacards

    that must be one hell of an extension:cool:
  • Morglin
    Morglin Posts: 15,928
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Forumite
    I assume this is a quote on a re-mortage?

    Ypou won't get anything like that rate, unsecured, and although the interest rate is very good, only you know whether it may cause porblems in the future - there are a lot of people losing their jobs at the moment, and perhaps something that needs to be considered when thinking about a secured loan - a re-mortage puts your home at risk if you default.

    Lin :)
    You can tell a lot about a woman by her hands..........for instance, if they are placed around your throat, she's probably slightly upset. ;)
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 355.9K Banking & Borrowing
  • 255K Reduce Debt & Boost Income
  • 456.2K Spending & Discounts
  • 248.4K Work, Benefits & Business
  • 606.1K Mortgages, Homes & Bills
  • 179.1K Life & Family
  • 264K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.7K Read-Only Boards
Quick Search

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.