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Loan question
Hi,
My partner is looking to borrow £2000 for debts consolidation but the trouble is the low interest lenders such as Moneyback bank start with a minimum loan of £3000, she doesn't really want to borrow that much.
My question is would it be feasible to take a loan for £3000 pounds, pay back £1000 straight away and then pay the rest off at a lower amount each month?
Would there be a penalty for repaying this much straight away?
Many Thanks,
Steve.
My partner is looking to borrow £2000 for debts consolidation but the trouble is the low interest lenders such as Moneyback bank start with a minimum loan of £3000, she doesn't really want to borrow that much.
My question is would it be feasible to take a loan for £3000 pounds, pay back £1000 straight away and then pay the rest off at a lower amount each month?
Would there be a penalty for repaying this much straight away?
Many Thanks,
Steve.
Competition wins 2019...?
0
Comments
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Overpayment penalties really depend on the lender. You'd need to read the small print and/or ask the particular lender about this.No longer visiting these forums.0
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I am in a dilemma with taking a first plus loan (consolidated). It ties me down for too long and I dont want to. So you need to be careful with consolidated loan0
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Nationwide offer Loans from 1000 upwards, also note that usuallt the best rate loans are for larger amountsDmp Mutual Support thread member No 820
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