Secured Loans: cheapest lending of last resort

F####d_by_NatWest

im thinking of taking out a secured loan over 15 years im about 50k in debt i have an unsecured loan with 17000 owing 3000 overdraft and 30000 on 5 credit cards what is the difference between interest only and repayment loans

now-or-never_2

Secured loans are the best bet compared to unsecured loans as they come up with a low interest rates. Even though some people cant afford a secured loan there are some organisations which offer best offers on unsecured loans also...

Timo_F

now-or-never wrote: »

Secured loans are the best bet compared to unsecured loans as they come up with a low interest rates. Even though some people cant afford a secured loan there are some organisations which offer best offers on unsecured loans also...

Also you might get some money back when signing a contract with them. Some times the cashback can be quite significant

georgiasmum

Nemo Loans - any opinions????

electromagnet

sand-dancer_3

Has anyone had any dealings with Swift Finance? I'll keep this short, I had a secured loan with them and cleared the outstanding amount when I re-mortgaged last year and on the date of my re-mortgage completion, my mortgage broker rang to advise me that Swift had increased the amount I had to re-pay them. I couldnt delay the re-mortgage and had to accept what they said. After reading the clear-baby-english advice on this site, I have decided to try and reclaim some of this money back as I believe they have 'ripped me off'. Ive also heard that this has happened before with Swift. Could anyone help me investigate this to try and reclaim some money back and also to help others that have been caught in this situation. Many thanks in advance.

bubblesb

I am in the process of remortgaging to pay off a secured loan - I have had this loan for 3 years and 3 months and after paying back over £19,000 owe them nearly as much as when I started. I have a penalty for repaying early - I am absolutley dumbfounded that I owe them practically what I borrowed. Can the penalty for repaying early be claimed back?

steview

I'm in the middle of a fixed rate mortgage (approx £160k) which runs out in March 2008. I want to borrow another £10k in early December 2007 to pay for a car.

I'm not sure whether it would be best to take out an unsecured high street loan for the amount and pay it back over 3/4 years and just have a separate loan or whether to take a further £10k on top of my mortgage as extra borrowing (at the SVR initially of course) and then add it to the mortgage when I remortgage in March.

Doing the second option would also incur a £150 admin fee so given the SVR will be higher than a normal APR on a high street loan too this will cost more in the short term but as soon as I've incorporated it into my new mortgage I would be paying less (combined) per month so could then do overpayments and I wouldn't have a separate loan on my credit report.

Anyone advise which of these they think would be the best option?

stephanf

Thanks for providing solution to my problem

moet32

Can anyone tell me the cheapest way to borrow 1000-1500 pounds

thanks