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Loan Repayment - Advice
Appreciate if someone can suggest on the below loan situation
Loan taken for 10000£ last year for 5 years... @ 7% Interest
Repayment started and most of the interests are recovered by the bank and the current Loan repayment amount is 10600£
Over the new year, I moved to scotland and took up a new job and thereby my affordability has improved.
I would hope that my credit rating will also improve.
I am looking for suggestions on how to save money and reduce the interest? Ways to do.
Sorry if this question is very basic..
Loan taken for 10000£ last year for 5 years... @ 7% Interest
Repayment started and most of the interests are recovered by the bank and the current Loan repayment amount is 10600£
Over the new year, I moved to scotland and took up a new job and thereby my affordability has improved.
I would hope that my credit rating will also improve.
I am looking for suggestions on how to save money and reduce the interest? Ways to do.
Sorry if this question is very basic..
0
Comments
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Over pay on the loan.
You have just moved address, so not necessarily showing on the electoral roll yet, and are new in post in your job, so there is no security. And you already have c.£10k debt.
I'd be surprised if you could get a loan at a better rate so soon given the above, but clearly I don't lend money so can't speak for others!LBM July 2006. Debt free 01 Sept 12 .. :T
Finally joined Slimming World: weight loss 33lbs...target achieved 51wks later 06.05.13 & still there :j
Aim to be mortgage free in 2022. Jan 17 33250 Nov 17 27066 Mar 18 24498 Sep 18 20608 Nov 18 19250 Jan 19 17980 Mar 19 16455 May 19 15024 Nov 19 10488 Feb 20 8150 May 20 5783 Aug 20. 3305 Nov 20 859 Mortgage free, 02.12.20200 -
Appreciate if someone can suggest on the below loan situation
Loan taken for 10000£ last year for 5 years... @ 7% Interest
Repayment started and most of the interests are recovered by the bank and the current Loan repayment amount is 10600£
Over the new year, I moved to scotland and took up a new job and thereby my affordability has improved.
I would hope that my credit rating will also improve.
I am looking for suggestions on how to save money and reduce the interest? Ways to do.
Sorry if this question is very basic..
Who knows if your credit rating will improve but it's not seen by lenders so don't focus too much on it.0 -
If it looks like SPAM, smells like SPAM...then it's probably SPAM.5 posts all saying "nice post" and "wow nice post" and other random phrases. Are you spamming? ( or building up your post count so you post spam links?)
New poster signs up just to say "nice post"...sounds legit :money:"We act as though comfort and luxury are the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about” – Albert Einstein0
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