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Trying to reduce rates
Legacy_user
Posts: 0 Newbie
in Loans
Hi Everyone,
just a few questions really. I have a NR loan with no early redemption penalties for £6000. Problem is, its at 10% interest. Now I feel this is very high. Is it worth ringing them and seeing if they can lower it because a) I have my mortgage with them and b) I even have their Co-op branded credit card (at 8% - work that out if you can
)
I have never missed a payment and only ever had one or two late fees. What are my chances of getting it, or am I just wasting my time ?
just a few questions really. I have a NR loan with no early redemption penalties for £6000. Problem is, its at 10% interest. Now I feel this is very high. Is it worth ringing them and seeing if they can lower it because a) I have my mortgage with them and b) I even have their Co-op branded credit card (at 8% - work that out if you can
)I have never missed a payment and only ever had one or two late fees. What are my chances of getting it, or am I just wasting my time ?
0
Comments
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Give it a go you won't have wasted your time if you secure a lower rate without incurring any charges,it will be worth the price of a call.0
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£6000 over 5 years (you've not specified a term) @10% is £126 per month. Total payable £7572
£6000 over 5 years @ 8% is £121 per month £7251 total
Why not look into the options of a 0% credit card or low life of balance transfer?"One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
Because by then you've blown your chances. That's it."0
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