Loan for a new kitchen.

polomint_2

Skinto_7 wrote: »

Polomint,

Be sure to get fitting quotes from a few fitters, normally the fitters supplied by the kitchen supplier are very overpriced!!

Yes the quote from the fitters supplied with the kitchen to fit but not including extras electrics etc was nearly £1700!! so we have the fitters coming next week to price up whom did our neighbours kitchen , they are the same fitters but work independently as well

chesky369

......Ive researched the loans and this was the best amount to borrow over the shortest time with the least interest......

Have you actually applied and been accepted at the 5.9% rate? I ask, because you say you don't have much experience with loans and you shouldn't think that, just because that rate is advertised, you necessarily get it. Only 51% of those who apply get the advertised rate - others are accepted but at a higher rate.

polomint_2

chesky369 wrote: »

......Ive researched the loans and this was the best amount to borrow over the shortest time with the least interest......

Have you actually applied and been accepted at the 5.9% rate? I ask, because you say you don't have much experience with loans and you shouldn't think that, just because that rate is advertised, you necessarily get it. Only 51% of those who apply get the advertised rate - others are accepted but at a higher rate.

This i put in my last post as i had seen the blog. No we havent tried yet..im still at the dipping my toe in the water stage

chesky369

If you already bank with Sainsbury's I would recommend you call them and discuss it with them. Do NOT at this stage give them permission to make a credit search or this may have a negative effect further down the line. But you could ask them what the likelihood is of you getting the 5.9% rate. I suspect in the event it will be higher and you may need to think about the effect it will have on your plans.

polomint_2

chesky369 wrote: »

If you already bank with Sainsbury's I would recommend you call them and discuss it with them. Do NOT at this stage give them permission to make a credit search or this may have a negative effect further down the line. But you could ask them what the likelihood is of you getting the 5.9% rate. I suspect in the event it will be higher and you may need to think about the effect it will have on your plans.

We dont bank with sainsburys will this make a difference?

chesky369

Yes. They will have no idea of your credit worthiness without checking. This will show on your credit reports and if you have what banks think is 'too many searches', then they are more likely to turn you down or at least require a higher interest rate. I suppose you could call them and ask them hypothetically what their rate would be, given your financial circumstances.

chesky369

OP - can I recommend you look at the thread titled Marks & Spencer personal loan (or something similar), it will give you an idea of what you might expect when you apply for a loan.

paulsad

Some good advice here (apart from the spam post above, which will probably be gone by the time you read this to make me look even more stupid!!).
I'd say go for it - its not like its a 48 month loan which speaking from current experience is a ruddy millstone. Or like has been said get a 0% cc over 20 odd months. Hope you get your dream kitchen.

ViolaLass

You haven't commented on the suggestion of getting back your mortgage overpayments and using them instead. Could you do this?