Unsure about Loan, need cash and help!

MobiTec

Hi guys,

I currently have £6k left to pay on a loan with Natwest, but i am in a situation now where i need about £1500 as i'm moving houses (renting) so need it for a bond and rent.

i'm a bit stuck on what to do as i need the cash asap, i was thinking on getting another loan with barclaycard, about £6300 to pay off my natwest loan @ £4800 (if i pay it off now) and that will leave me about £1500 spare

do you think this is the best option, as a friend has suggested a CC with 0% on transfers and something to do with a cash advance... but never having a CC before i'm not sure if its the best option.. for me.

Any advise appreciated.! (i'm a noob so dont speak gobble-de-gook.. thanks) lol

fatbelly

I guess you could try a credit card with both a 0% deal and a Super Balance Transfer facility (puts money straight into your current account).There's a list at http://www.stoozing.com/0fees.htm

System

MobiTec wrote: »

Hi guys,

I currently have £6k left to pay on a loan with Natwest, but i am in a situation now where i need about £1500 as i'm moving houses (renting) so need it for a bond and rent.

i'm a bit stuck on what to do as i need the cash asap, i was thinking on getting another loan with barclaycard, about £6300 to pay off my natwest loan @ £4800 (if i pay it off now) and that will leave me about £1500 spare

do you think this is the best option, as a friend has suggested a CC with 0% on transfers and something to do with a cash advance... but never having a CC before i'm not sure if its the best option.. for me.

Any advise appreciated.! (i'm a noob so dont speak gobble-de-gook.. thanks) lol

Have you tried asking NatWest for an extension on your existing loan?

UNDERGROUND

MobiTec

Ok, so i have had a look around and seen Virgin offering there CC with 0% on
BT for 15 month with a 2.98% handling fee based @ 15.9% APR

now this might sound silly to some and you'll tell i really am a noob when it
comes to finances but would that be a better option than the loan with
barclaycard?? £6300 over 60 months @ 6.8% APR (if i had the same limit on virgin CC)

The lower % APR on the loan is making me think not..

or would it only be better if i swapped my ballance everytime the rate/offer was
running out.. so in like 14 month time swap to another 0% card..

and i'm guessing whatever i pay off on the CC i can then at a later stage spend it again..