My Halifax Loan. Is there a Better one?

mark_steps

My laon runs out on Nov 08 and im paying £319.14 back per month.
The APR is 9.5. I have just spoke to someone at the bank who gave me an early settlemet figure of 5720.16

I would like to know if there is another Loan company i would be better off using to clear the existing debt off. I can pay £320 per month no probs and would prefer not to have the 2-3 month break they often provide.

cm1980_2

Do you have a mortgage?

If so then usually your mortgage provider can provide you with a competitive rate as you also have your mortgage with them.

If not then its a case of shopping around. Look through Martins pages, there should be some info on there, or try money supermarket.com here you will be able to compare interest rates.

BigDave_Cash_Saver

Hi-

There are some ok rates on the market at the moment, but possibly not as good as what they would have been when you took out the loan. Rates have risen a little due to many factors, mainly Rate increases and bad debt in the market. I know of lots of headline rates I could tell you about but I don’t want to be accused of advertising or spamming, and also there's a brilliant section on here for loans you can look at.:T :T :T

If you don’t have any bad credit I would suggest you do not so on a secured route and either find a better unsecured option or stay where you are and clear the loan naturally. :cool:

Also- Many people these days are obsessed with looking for something new, but it may well be that starting with your own bank provides a simple solution. :cool: :cool:

Thanks,
Dave

regularsaver1

If you repay Halifax loan early - that £5720.16 includes 2 months interest penalty