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Loan advice needed
Lexiconnolly
Posts: 2 Newbie
in Loans
Hi, I am about to rent out my house so I can live with my boyfriend. Before I do this I need to have the house decorated (painted) and I also need new carpets and a boiler.!
I have a friend who is a painter and decorator who has given me a very good price to do the painting, but would need to pay by cash as he is self employed and doesn't have the facility to take credit card payments. !
The carpet and the boiler I am able to pay by credit card.
My question is, should I take out one cash loan for £2,000 to pay for all of this, which the APR would be around 18% or should I take out a loan for £900 for the painting at 18% and use a credit card for the rest of the money, which I could easily pay back within a 6 month interest free period?!
Here is a breakdown of my costs:
£900 Painting
£900 Boiler
£200 Carpet.!
Also if anyone knows of any good deals on boilers/installation would also be appreciated.!
Thank you in advance for any responses,!
Alex. !
I have a friend who is a painter and decorator who has given me a very good price to do the painting, but would need to pay by cash as he is self employed and doesn't have the facility to take credit card payments. !
The carpet and the boiler I am able to pay by credit card.
My question is, should I take out one cash loan for £2,000 to pay for all of this, which the APR would be around 18% or should I take out a loan for £900 for the painting at 18% and use a credit card for the rest of the money, which I could easily pay back within a 6 month interest free period?!
Here is a breakdown of my costs:
£900 Painting
£900 Boiler
£200 Carpet.!
Also if anyone knows of any good deals on boilers/installation would also be appreciated.!
Thank you in advance for any responses,!
Alex. !
0
Comments
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well if you can get a CC with an interest free period and pay in full before the promotional period ends then that is as cheap as it gets
no idea why you and b/f can't paint the house but that's another question
do you really need a new boiler before letting?EU tariff on agricultual product 12.2%
some dairy products 42.1% cloths 11.4%
EU Clinical Trials Directive stops medical advances0 -
Don't forget insurance! And letting the mortgage company know.0
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Can you really not scrape together £900 without getting a formal loan at 18% APR? If you are being offered 0% credit cards you should be able to get an overdraft at a lower rate than that, then pay it off much sooner than a loan, saving you interest.
Others are right though - you will need landlords insurance and a consent to let from your current mortgage lender - who may increase your mortgage rate!
R.Smile
, it makes people wonder what you have been up to.0 -
Maybe pop over to the renting board for help re the letting or maybe have a look for forums dedicated to landlords.0
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Also landlords gas safety certDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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