📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Extending the loan period

2»

Comments

  • Could you ask your current lender to extend the term?  If that is the issue?
  • Thank you. I had been told they wouldn't do that but have since spoken to another advisor and they are now looking into it with me. 
  • macman
    macman Posts: 53,129
    Part of the Furniture 10,000 Posts Name Dropper
    Forumite
    I understand, I thought that might have been understood as I selected debt consolidation as the reason. I'm really looking to extend the duration of the loan to reduce the payments. 
    To state the obvious, all that achieves is to increase the total cost of the loan. That is not money-saving.
    No free lunch, and no free laptop ;)
  • Maybe it's debt management then
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 355.9K Banking & Borrowing
  • 255K Reduce Debt & Boost Income
  • 456.2K Spending & Discounts
  • 248.4K Work, Benefits & Business
  • 606.1K Mortgages, Homes & Bills
  • 179.1K Life & Family
  • 264K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.7K Read-Only Boards
Quick Search

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.