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Closing an account with a loan!?
Hi all, I' am new to this forum so be nice.. I have recently switched bank provider and I currently have two loans with them, one currently at £7052 the other at £2700 and I wanted to consolidate these with my new provider (taking a £10,00 loan to clear this) I wanted clear them off but to my knowledge to clear both would mean a rebate balance totalling £11,766.
Can i keep my account open with one of the loans (£2700) in there and keep making the monthly payment on it? as this is the one with the £1700 rebate to clear the balance.
Much help here please, im alittle stuck.
cheers, ady
Can i keep my account open with one of the loans (£2700) in there and keep making the monthly payment on it? as this is the one with the £1700 rebate to clear the balance.
Much help here please, im alittle stuck.
cheers, ady
0
Comments
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If you can get the further borrowing, you can chose to pay off either or both of the loans.
But assuming you are borrowing at a lower rate, and have more than two months to run on each, you should pay them both off.0 -
Thanks I was debating doing that.0
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