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I need a 25K loan for max period of 3 months

trevtucker
trevtucker Posts: 3 Newbie
in Loans
Please can you advise my options here. I need this very short term loan that I will repay in full by the end of the year.
Any help appreciated. Clearly want to pay as little as possible for this.
Cheers/
«13

Comments

  • Macca83_2
    Macca83_2 Posts: 1,215 Forumite
    Take out a loan, pay it off early?
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    Macca83 wrote: »
    Take out a loan, pay it off early?
    Radical stuff.
  • Macca83_2
    Macca83_2 Posts: 1,215 Forumite
    opinions4u wrote: »
    Radical stuff.

    I'm definitely firing on all cylinders today
  • Apples2
    Apples2 Posts: 6,442 Forumite
    Macca83 wrote: »
    Take out a loan, pay it off early?

    Do you have to do both?

    I thought you could just take the loan, the second part about repaying a loan at all was personal choice
  • Macca83_2
    Macca83_2 Posts: 1,215 Forumite
    Apples2 wrote: »
    Do you have to do both?

    I thought you could just take the loan, the second part about repaying a loan at all was personal choice

    I'm glad you asked. There are currently two schools of thought on the subject. The first school think it wise to apply for the loan, spend the funds frivolously and then claim a mis-sale.
    The second school, and this is the most controversial of the two, think it wise to apply for the loan and pay it back in a timely manner...
  • gb12345
    gb12345 Posts: 3,055 Forumite
    Macca83 wrote: »
    The second school, and this is the most controversial of the two, think it wise to apply for the loan and pay it back in a timely manner...

    This approach will never catch on.
  • Macca83_2
    Macca83_2 Posts: 1,215 Forumite
    gb12345 wrote: »
    This approach will never catch on.


    Yes, it is very much a revolutionary train of thought
  • DCFC79
    DCFC79 Posts: 40,649 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 12 October 2013 at 1:37PM
    trevtucker wrote: »
    Please can you advise my options here. I need this very short term loan that I will repay in full by the end of the year.
    Any help appreciated. Clearly want to pay as little as possible for this.
    Cheers/

    Get a loan. You'll pay the apr rate the lenders offer you. You considered that your banking on whats going to happen in the future.

    Dont forget to look at early payment of the loan.
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Depending on the type of bank account held an overdraft might be a cheaper option.#
    Bear in mind the early settlemrnt fee on a £25k loan will be substantial unless capped by the bank.
  • John1993_2
    John1993_2 Posts: 1,090 Forumite
    OP, what's it for, and what security do you have?
This discussion has been closed.
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