Whats the best loan

Tumbleweed1

Hi

We have a bit of a problem in that we owe £1000 each to 2 different overdrafts and £900 to 1 person and £1000 to another. We are thinking of getting a loan for this, what would be the best one to get?

We are homeowners and were thinking of getting a secured loan through the bank we have a mortgage with - Halifax, would this be the best idea?

Please any advice would be great to get ourselves out of this mess, consolidate the payments get a loan to cover all and make 1 payment a month.
Also can you pay extra on your loan a month other than the main payment, say if one month we have extra money pay that straight off the loan ???

Thanks, look forward to hearing from anyone that knows their stuff !!

[Deleted User]

income?existing credit inc unused cc limits?amount you want to borrow?

CLAPTON

you need to say a little more about your financial situation ...
post up thew details

http://www.makesenseofcards.com/soacalc.html

diable

The best loan is the one you don't have to pay back..............

CoolHotCold

diable wrote: »

The best loan is the one you don't have to pay back..............

The old bank robbery heh.

anandp

I just said this on another thread asking a similar question but Zopa are pretty highly rated when it comes to loans, especially as they allow charge-free paybacks of the capital at any time.

http://www.zopa.com

Tumbleweed1

I have been thinking about it all day and reading some of the info on this webiste.

I am going to get a loan for £1 K and pay off one of the borrows as that needs to be paid asap and in 1 lump sum.
The 2nd borrow £900 we can pay back £100 a month interest free and more if we get an overtime month or if I get any work bonus after we've paid the most off the overdrafts.

We are going to do the same with the 2 overdrafts but pay as much as possible each month and pay extra if we get overtime, my OH is working as many hours as possible at the minute and this month we're already looking at bringing in an extra £500.

I don't think getting a loan for more money over longer period pay more interest and not be able to pay extra each month if we've got it, I believe if we carry on with my OH overtime we can pay it all back in 4 months except the £1K loan, but at least we don't then have say a £5K loan paying off a little each month and also paying loads in interest.