need a loan for 20k who is best to go with

mirrorimage0

hi all need a bit of advice as im not really sure whats best to look for. we need a loan for 20k to do an extension on house as i would like to do child minding from home but want it in a seperate part of the house so its not like im at work all the time.lol anyway we own our own home (mortgaged) and havent got any othet loans or bills apart from very minor credit cards ie a couple of hundred pounds to pay off.

can any one tell me the best loans to go for

secured
unsecured
low interest
or higher interest with no early repayment fees etc
or should i add to my mortgage

its just all a bit confusing

any advice would be welcome
thanks in advance.

DawnW

There is lots of choice. High street banks will lend that amount unsecured if you have a decent credit rating. Have a look through the best buy tables. Surely better than secured on your house?

jonesMUFCforever

I think it will depend on how much you can comfortably afford per month.
If you need low repayments until you get established a further advance from your mortgage provider may be the answer but if you want it all done and dusted in say 5 years a personal loan may be the way to go.

mirrorimage0

thanks guys, cant really afford to have it done and paid in 5 yrs , to start with could afford about 250 a month thats if i only have one child full time, but hopefully will have 3 eventuallu so need a loan that can be paid off more each month without penaltys, if this makes sense.
thanks for advice though, x