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Borrowing 2k

will27
will27 Posts: 5 Forumite
Hi new to all this so be gentle ;) want to borrow 2k to finnish off my bathroom what would be cheapest way thanks in advance :D
«1

Comments

  • A 0% credit card would be the cheapest method.
  • will27 wrote: »
    Hi new to all this so be gentle ;) want to borrow 2k to finnish off my bathroom what would be cheapest way thanks in advance :D

    Why 'finnish' your bathroom! Why not swedish it instead? It may be cheaper.
    "There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock
  • will27
    will27 Posts: 5 Forumite
    Why 'finnish' your bathroom! Why not swedish it instead? It may be cheaper.

    Yeah yeah good one :D how does the 0% interest card work i'm numpty with this stuff never had loan before only mortgage :eek:
  • pjcox2005
    pjcox2005 Posts: 1,018 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    edited 18 January 2012 at 7:35PM
    Latest weekly e-mails have details on all 0% offers:

    http://www.moneysavingexpert.com/latesttip/

    Basically, you apply for a credit card as normal. If accepted and dependent on the deal, they charge you no interest for a period of c. 15 - 18 months.

    You pay minimum payments each month, ensure you don't do a cash advance (e.g. through cash point) and then pay off the remaining balance in full at the end of the interest free period.

    The catch is if you spend the money and don't sort out a way of paying off the balance at the end of the interest free period as it will revert to a normal rate, so interest of anything from 10 - 40% really.
  • McKneff
    McKneff Posts: 38,857 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    0% for 12 months = 2k divided by 12 = your monthly payment, dont be late with any of them, finish by the correct date or your your interest will revert to normal. Setting up a DD is best.
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • will27
    will27 Posts: 5 Forumite
    Ok but i don't want to pay for supplies with card i want the cash so i can get better deal , how would i do this :question:
  • Tixy
    Tixy Posts: 31,455 Forumite
    You could either get an overdraft, a loan, or you could try to get a 0% card that allows super balance transfers - though the latter incurs a balance transfer fee to get the money into your current account.
    Which would work out cheaper would depend on how long you expect it to take you to repay the debt. Which of them you are likely to be accepted for will depend on your financial circumtances and credit history.
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
  • will27
    will27 Posts: 5 Forumite
    Tixy wrote: »
    You could either get an overdraft, a loan, or you could try to get a 0% card that allows super balance transfers - though the latter incurs a balance transfer fee to get the money into your current account.
    Which would work out cheaper would depend on how long you expect it to take you to repay the debt. Which of them you are likely to be accepted for will depend on your financial circumtances and credit history.

    The only debt i have is mortgage and credit card about £700 thats it i was looking to pay back in about 2 years but with the option of paying off early :D
  • Everyone wants info without giving details!:(

    need to know - salary after tax, any further deductions from Net salary, any previous credit defaults.

    too little info given!

    even then, theres no guarantee you will get what we "think" you may be able to obtain.
  • KingElvis
    KingElvis Posts: 4,100 Forumite
    The easiest way to finish it? find a new housing development, remove the bathroom from one of the new builds, install this into your own.
    "We want the finest wines available to humanity, we want them here, and we want them now!"
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