Want a 10 year unsecured fixed rate loan

Tixy

9.9% is not extortionate at all for an unsecured loan. In fact I'd say it was pretty reasonable in the current climate. Over 10years could possibly end up working out cheaper than a secured loan on a variable rate - given the uncertainty about just how high the base rate will go at the moment.

Twister84

I know you said the mortgage company are useless, but have you thought about releasing equity instead?

Karence

Hmm, well I suppose 9.9% may not be extortionate per se, but when you see the headline rate for Tescos of 7.4%, it seems poor by comparison and bearing in mind that we may not even get this rate it could be a lot higher still.

Releasing equity? I thought that was something you did later on in life - I'm a dull play it safe kind of gal and these schemes seem a little risky to be honest.

Thanks for all the advice

Regards
Karen

ILW

Surely releasing equity is just another name for a secured loan?

Twister84

ILW wrote: »

Surely releasing equity is just another name for a secured loan?

Yeah, but it'd probably be cheaper and it'd be just added onto her mortgage, which as well all know, is probably someone's biggest commitment.