Want to change loan from barclays to someone else...

CAN1976

I did this in the opposite direction. Took out a 21k consol loan with Tesco at 8.9%. About a year later Barclays rang up to do an account review (My current account is with Barclays) with me. They offered me a loan to cover the remaining Tesco amount (17k) at 7.5%. I bit their hands off and my minimum monthly payments fell by £50 (which I am of course using to overpay).

CAN1976

emmaking1987 wrote: »

My debts are consolidated already and all it left is the £6500 loan with barclays. I only took this loan out a couple of weeks ago, i've not even paid the first repayment yet.

I've been a barclays customer for years and and in a panic just went for the first loan available, i did it online on a sunday and was in my account on the monday. And yeh i was approved but then like an idiot only looked at different offers afterwards. I'm useless with money and in a panic didnt shop around. But ive been seeing quotes at £7000 loan pay back 8500. Whereas my 6500 will total 10,800 by the end. I dont know what else to do but be lumbered with the high interest if no where else accepts me.

Bear in mind you may not qualify for those great rates you are seeing. When I got my Tesco loan, the advertised rate was not what I got.

archie2002

normally with loans aswell with banks the more you take the lower the rate is. Im a barclays customer and there rates drop when lending over 7500 however you have to be eligible for this amount. you should ring up and ask