£5000 loan required

dsmithmobile

Hi,need a loan to pay off some debts,basically ive got about £1900 on an egg card which i transferred from my lloyds tsb card but still have £2000 left on the tsb card as egg wouldnt transfer all of it,plus i owe my parents about £600,ive been paying £500 a month off the tsb card and the minimum off the egg card and dribs and drabs to the folks but with the interest and card protection payments each month i dont feel like im getting anywhere so i was looking into getting a loan to pay everything off and have one payment of around £500 a month over 12 months but after reading the forums i still dont know whats best to do or who is the best lender ? with it been a short term loan what interest am i looking at paying ? any advice would be appriciated as i dont want to get stung,thanks in advance
regards
Danny

BenL

The interest rates are usually done on amount rather than length of loan.

Try https://www.moneysupermarket.com loans comparison and read martins loan articles as a start.

Northern Rock are hard to get a loan from but they have good rates.

6.2% from the AA looks good, £430 per month, total credit charge of £165. Then British Gas and RAC.

Banks aren't the best people to approch for loans it seems.

Ben

mrcow

With such a short repayment term (eleven months), then have you considered Cahoot? With such a short loan term, differences in APR levels don't make a massive amount of difference to the overall loan cost, but online flexibility can be a great asset.

It's their flexible loan I was thinking of, as they are currently offering an APR of 6.9% for the first year (I think it's normally 8.5%, but you'd need to obviously check the T&Cs for yourself). You can pay your £500 per month, or more or less as your circumstances dictate, adjusting your requirements online.

They won't force payment protection down your throat either. It may be worth taking a look?

naivri

i got a car loan last year from alliance and leicester

loan was for just short of 10 grand

interest rate was 5.9% APR

Pretty sure they still advertise that rate