Flexible loans - do they exist?

RobM99

Hi all, hope you're having a good day.

I might be after a flexible loan, i.e. one where I can make overpayments with no penalty - a bit like a credit card but without the high interest. I recall the Co-Op did them many years ago, but I can't find what I want. Any suggestions?

jonesMUFCforever

1 Overdraft
2 Credit card
3 Personal loan.

[Deleted User]

If it’s for a small (up to £5000) amount and it’s to buy something in a shop (for example) then a cheap (preferably 0%) credit card is best. If you need money in your bank account then a money transfer card would be best. As for a flexible loan, don’t think they exist, or if they do will probably have sky high interest.

Clive_Woody

RobM99 said:

Hi all, hope you're having a good day.

I might be after a flexible loan, i.e. one where I can make overpayments with no penalty - a bit like a credit card but without the high interest. I recall the Co-Op did them many years ago, but I can't find what I want. Any suggestions?

I think with many loans you can make overpayments on top of your regular payments, I certainly can with my Nationwide loan

https://www.nationwide.co.uk/support/support-articles/how-to/overpay-your-loan

DCFC79

You could ask some lenders the question but yes some will let you overpay.