First Plus 'variable APR'

petermb_2

Will the loan be secured on the hutch?
is there a proper warning?
your hutch is at risk especially if you do not take out the ever so friendly payment protection insurance.

miss_lisalou

You're right Rafter, thanks. I will be closing down all the other card accounts.

Hey, the hutch is owned outright and no further borrowing is needed there. Although they may consider a piggie lodger...

jonesMUFCforever

miss_lisalou wrote: »

Many thanks for all of your responses. I'm relieved that I posted this question before signing up now!

I phoned my mortgage lender C&G this morning and they agreed £25k over the phone at a better rate, fixed for 5yrs. It's still secured lending but with a more trustworthy lender no doubt, who aren't likely to change the interest rate on a whim.

I have decided to ditch First Plus and use their shredded forms to line my guinea pig hutch!
:T
Thanks again guys!

That's great news.
NOW the hard work begins.
Set yourself a target to save as much as possible over the next 5 years so that when the fixed period ends you should have a substantial sum to repay what is outstanding on that part of the mortgage.
If you don't then the debt will acumulate for the term of the mortgage and what seems a great thing to do now will still be with you 20 years from now.:j