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Personal Loan vs Remortgage - same payment term

edited 16 January at 1:19PM in The MoneySaving Books
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showmethecashshowmethecash Forumite
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Tenth Anniversary Combo Breaker First Post
edited 16 January at 1:19PM in The MoneySaving Books
Hi all

I am looking to borrow £30k over 8 years.

HSBC are offering a personal loan at 3.3% but if I remortgage I can get this at 1.59%.

My mortgage provider allows me to make overpayments so I intend to pay off the £30k over 8 years in any event i.e. whether i take a personal loan or remortgage.

Is it simply a no brainer that I should go down the remortgage route due to the lower interest rate?

Thanks!

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