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Best type of loan to get for home improvements

naepace
naepace Posts: 305 Forumite
in Loans
Hi guys,
I need about £10 k to fund a garage conversion, is adding this to my mortgage the best way to finance this ? bearing in mind I intend paying it off over 18 years (the term left on my mortgage)
Thanks in advance.

Comments

  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    Yes it is.
  • chani1
    chani1 Posts: 76 Forumite
    if you want it over that long thats the best idea but you'll pay alot back in interest. You could get an unsecured loan over a 10 year period at a low rate that doesn't have the set up fees also no redemption charge i think that would be more cost effective in the long run.
    :D
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