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First Plus

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spender
spender Posts: 1,157 Forumite
Part of the Furniture 1,000 Posts Combo Breaker
Right I have been reading these boards for some time and now but can not find the answer to this question.

We stupidly nearly five years ago took out a First Plus loan. We have repaid every month £615.00. I asked for a settlement figure to find it is basically the amount we still owe?

What would you guys recommend? Would it be worth me trying to consolidate with my current mortgage provider? I do not really want to add to the repayment time left.

Or would it pay me to overpay the First Plus loan? I have got a funny feeling that this would not benefit me.

I am so looking forward to the day I can stick two fingers up to First Plus. I know it is our fault for getting into that position, at the time 10 years repayment sounds OK and it was easy to get and spend.

Look forward to your advice.
No Matter what you do there will be critics.

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  • 27col
    27col Posts: 6,554 Forumite
    spender wrote: »
    Right I have been reading these boards for some time and now but can not find the answer to this question.

    We stupidly nearly five years ago took out a First Plus loan. We have repaid every month £615.00. I asked for a settlement figure to find it is basically the amount we still owe?

    What would you guys recommend? Would it be worth me trying to consolidate with my current mortgage provider? I do not really want to add to the repayment time left.

    Or would it pay me to overpay the First Plus loan? I have got a funny feeling that this would not benefit me.

    I am so looking forward to the day I can stick two fingers up to First Plus. I know it is our fault for getting into that position, at the time 10 years repayment sounds OK and it was easy to get and spend.
    Look forward to your advice.

    Ain't that the truth!
    I can afford anything that I want.
    Just so long as I don't want much.
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