Borrowing

mrs_T

We are mortgage free and need to raise the last £15k to pay for a home extension. We have no debt other than I have £11k of stoozed debt with the funds sitting in the bank due for repayment 50% may 2014 and 50% august 2015. We would look to repay the £15k over 3-5 years. Should we look for a mortgage or would we be better with the santander loan deal in todays email? We don't need the funds till march 2014 but the santander deal closes on the 4th.

Foxy-Stoat_3

Taking out a mortgage for 5 years would be more costly than a personal loan...no legals for a start.

Do the sums either way, use compare the meerkats/market.

Thrugelmir

You may encounter issues in obtaining unsecured finance totalling £26k.

ispookie666

Try zopa or any other peer to peer lending sites.. the rates are competitive.