Egg denys loan increase please read all

Stilojon

Hi All.

I have two loans one with Egg and one with my personal bank Natwest.

I want to put this into one loan, pay off a little bit off it approx £2k and extend my number of years to 5 from 4 to give me a bit more money each month, as I should be getting a nice bonus end of july to pay another chunk off.

Therefore I am looking for a flexible loan with a low intrest rate for about £14k

Any ideas on where to look, what are the best intrest rates, and are there loans out there where yo can make large 1 off payments every now and then.

All advice appreciated.

Jon

Rafter

Jon,

Egg is not a bad flexible loan to have.

There are cheaper loans available without repayment penalty from the likes of northern rock, but these aren't strictly flexible.

Because you have a payment history with Egg you may find they will lend you what you need too - depending on your credit record.

You can then look and see whether you can get your interest bill down using some 'life of balance' credit card deals and using them to pay off your egg loan.

Good luck.

R.

Stilojon

ok so all i will need to do is top up my egg loan, which will go into my bank accout and pay off my natwest loan.

Hmm seems like a plan bat man.

Will I be able to extend my total length of the loan for the entire amount with egg though?

Stilojon

On another note my egg loan intrest is at 7.66% which is higher than other places.

Other places on moneysupermarket are offeing 5.9%

I would like to stay with egg as it is probably going to be easier, but just wondering if there are better deals out there?

Stilojon

Well this is not fair.

After your advice I have just been on the phone to egg trying to increase my £9500 loan by another £4000 to pay off my natwest loan of £5500.

I only wanted £4000 as I have another £2000 in my savings account to pay off my debt.

However I have just been turned down for this loan.

Which I dont understand why, I now have a perfect credit score of 990 out of 1000 with experian, and have never missed a payment with egg.

I cant see why they can see me as being a high risk.

Does anyone have any ideas why this would be.

I have logged an appeal with Egg on the website through the secure messages bit, and hopefully something will happen, but what else can I do.

Its begining to annoy me now.

Does anyone have any ideas???

Jon