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Reducing loan interest
mi33cupc@ke
Posts: 221 Forumite
in Loans
Hi all,
I'm wondering if there is any way I can reduce the interest on my £18k loan with Lloyds TSB. It was a consolidation loan and the interest is 12.9% originally over 7 years with just over 6 years left. The monthly repayment is£347. I have been refused credit quite a lot lately but managed to get a couple of 0% balance transfer deals with Egg and Virgin, Egg gave me a £1250 limit and Virgin gave me a £4000 limit. So now my cc's payments have been reduced I want to batter this loan down. I am a homeowner and have already tried my mortgage lender for a loan but they didn't want to know. I'm an unemployed mother looking for work but my husband earns £26k. Our outgoings are quite a bit more than our income each month so I just want to reduce the amount of interest we are paying on this loan. Does anyone know which is the best lender to approach. Would I be able to get a low rate loan with having a lower than average credit rating?
I'm wondering if there is any way I can reduce the interest on my £18k loan with Lloyds TSB. It was a consolidation loan and the interest is 12.9% originally over 7 years with just over 6 years left. The monthly repayment is£347. I have been refused credit quite a lot lately but managed to get a couple of 0% balance transfer deals with Egg and Virgin, Egg gave me a £1250 limit and Virgin gave me a £4000 limit. So now my cc's payments have been reduced I want to batter this loan down. I am a homeowner and have already tried my mortgage lender for a loan but they didn't want to know. I'm an unemployed mother looking for work but my husband earns £26k. Our outgoings are quite a bit more than our income each month so I just want to reduce the amount of interest we are paying on this loan. Does anyone know which is the best lender to approach. Would I be able to get a low rate loan with having a lower than average credit rating?
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