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Additional borrowing
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5.9% is a pretty good rate for a loan, over what term would you like to repay it.
Will your mortgage company allow you to take it out seperate to your main loan. Remember paying 5.9% over say a 20year mortgage might seem like low repayments but the interest will add up and you will be paying more overall.
If you want to pay it over 5 years and the repayments are suitable then I would go for it alternatively will they let you make overpayments to reduce the term.0 -
The Debt-free Wannabe board would advise you not to turn unsecured debt into secured debt, if debt is what you need the £10K for. If it's for a car/ holiday/ home improvements, use the Snowball Calculator to work out what your purchase is really going to cost you - then save up.Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️0
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hi it is over three years and i can pay 10% exra each year.
my mortgage rate is staying as it is0
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