We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 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!

Small long term loan

Options
perc
perc Posts: 1,040 Forumite
Part of the Furniture 500 Posts Name Dropper
Hello I am after borrowing about £7000 but would like to take it over 30 years if I can.

Can anyone advise anywhere which may offer this - I do not mind it secured against the home but do want a competitive rate

Many thanks :)
"Those who try to make sense of the world are divided into four categories: scientists, theologians, philosophers, and fools. Correction ... make that one category with three sub-divisions" -- Carlo Kensada

Comments

  • nomoneytoday
    nomoneytoday Posts: 4,871 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    It would be around £50 a month and you would end up paying back about 1.5 times as much back in interest. An extra £10 a month would reduce it to 20 years. Why so long? It won't make that much difference to the repayments?
  • Perc

    Do you want to tell us what you want it for, as we may be able to offer some other suggestions.

    A secured loan is generally a bad idea :(
    Warning ..... I'm a peri-menopausal axe-wielding maniac ;)
  • perc
    perc Posts: 1,040 Forumite
    Part of the Furniture 500 Posts Name Dropper
    Its for home improvements really
    We just need a long term one until we stop paying for my daughters nursery - then we can reduce the term :)
    "Those who try to make sense of the world are divided into four categories: scientists, theologians, philosophers, and fools. Correction ... make that one category with three sub-divisions" -- Carlo Kensada
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
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.8K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

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.