We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
advice re secured loan please
Hi.
currently have a secured loan with endeavour for 36k at 9.9% over 25 years am 2 years in. it will cost 42k to settle.
i have searched for a cheaper loan and i can get a 42k loan over 20 years with relax finance at 8.1%
does it make sense to swap as its costing me so much to clear the endevour loan?-however it is 2 years less im paying?
Please could a mathematical genius help me out here.
thanks.
currently have a secured loan with endeavour for 36k at 9.9% over 25 years am 2 years in. it will cost 42k to settle.
i have searched for a cheaper loan and i can get a 42k loan over 20 years with relax finance at 8.1%
does it make sense to swap as its costing me so much to clear the endevour loan?-however it is 2 years less im paying?
Please could a mathematical genius help me out here.
thanks.
june debt totals:
Citifinancial £11700
Morgan Stanley £860
Capital one Mastercard CLOSED
Capital one visa £1676.3
Halifax £6650
Barclaycard CLOSED
Abbey £1756.85
Dad £6625
Mbna £2282.20
Total £31550.35
£1000 in 2mths challenge £228.19
Citifinancial £11700
Morgan Stanley £860
Capital one Mastercard CLOSED
Capital one visa £1676.3
Halifax £6650
Barclaycard CLOSED
Abbey £1756.85
Dad £6625
Mbna £2282.20
Total £31550.35
£1000 in 2mths challenge £228.19
0
Comments
-
hang on
theres something here I dont get shamu
If you have a loan for 36 why is it turning into being 42
How much will it cost to settle that?:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0 -
Apparently thats the settlement figure give or take a couple of hundred. i cant figure out why its so much either.
Relax finance reckons that the figure should be £41k but i dont get why at all?
I will have the exact figures by the end of the week.june debt totals:
Citifinancial £11700
Morgan Stanley £860
Capital one Mastercard CLOSED
Capital one visa £1676.3
Halifax £6650
Barclaycard CLOSED
Abbey £1756.85
Dad £6625
Mbna £2282.20
Total £31550.35
£1000 in 2mths challenge £228.190
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 348.6K Banking & Borrowing
- 252.3K Reduce Debt & Boost Income
- 452.5K Spending & Discounts
- 241.3K Work, Benefits & Business
- 617.8K Mortgages, Homes & Bills
- 175.8K Life & Family
- 254.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 15.1K Coronavirus Support Boards