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15,000 Home improvement loan ?
Hi all I am mortgage free and own my flat outright. I have no personal debt and approximately 10,000 in savings. I require a new kitchen and bathroom which with a few other jobs will cost me around 15,000.
I am wondering the best way to raise these funds ? I also earn around 1,700 net per month. Thanks for any pointers in advance.
Regards Famo.
I am wondering the best way to raise these funds ? I also earn around 1,700 net per month. Thanks for any pointers in advance.
Regards Famo.
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Comments
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How about as much as you can on a 0% card and the rest from saving? There is no point in paying interest on a loan which will be higher than the interest being earned on your savings. You can replace the savings with the money you would have used to make the loan repayments.0
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How much will the 10k pay for? I'd do as two separate things if you can. Use savings to pay for whichever one now and save until you have enough to do the less urgent one. No reason to borrow at all.Debt 1/1/17 - Credit Cards £17,280.23; overdrafts £3,777.24
Debt 5/1/18 - Credit Cards £3,188; overdrafts £00
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