Refinancing £27000 loan??

liam12779

Hi,
looking for some advice.
I have a 27000 (remaining) loan from a previous property (had a125% mortgage, part mort, part loan, i sold up and moved but needed the equity so have kept the loan). I have 25 years left, currently paying £270 a month on 9.5% interest which is variable.
I need to get the loan on a fixed rate for some stability in case interest rates go back up!!
I can afford about £300 a month so would happily take it up a bit to pay it off early.
I know banks dont usually do personal loans for that amount, and am sceptical about companies on money supermarket etc as i dont know a lot about them.
Just wondering if anyone had any advice/previous good/bad experiences?

Cheers now!!
Liam 12779

quantic

Hi Liam,

Are you sure those numbers are correct? 27k over 25 years at 9.5% comes in at £229 a month to my calculations? My honest answer is that its gonna be pretty unlikely for someone to give you a loan in the region of 30k... what is your salary?

liam12779

It was at 4.5% but when i sold my flat Northern Rock pushed it up to 9.5% as it was part of my initial mortgage but isnt now.
I pay 268.68 a month.
It was a 30k loan when i took it out.
I earn £52000 a year at present.