Medical Loan or Personal Loan

Sandsharks2005

Hi all, new to the forum so please forgive me for any mistakes!

I'm currently looking at private surgery for something which I can not get on the NHS.

The cost of my surgery is £7800, and I have £2800 saved for it. But will need to secure a £5000 loan for the rest. I have spoken to the hospital providing this surgery, and they've given me a booklet about a financing company called Chrysalis Finance but after a Google, I can't seem to find any information about their reputation. But the hospital also advised that I could explore a personal loan through my bank or High Street provider. 

I've also never taken out a loan, but earn about £24k in full time employment, and according to Experian have a good credit score, so am a bit anxious entering an agreement when i can't seem to find any reliable reviews. 

[Deleted User]

Your credit score isn't a factor in lending, so you'll want to try an eligibility checker. You'll be assessed on risk by each lender.

Compare the rates might get offered to the one via Chrysalis. They are probably higher rate but accept higher risk applicants.

Sandtree

You need to speak to your provider on what the typical APRs are via Chrysalis, their website mentions 0% for up to 12 months or 9.9% for longer loans however these types of finance agreements are very much dependent on the relationship between the vendor and the finance company.

One advantage of tied finance is that you'd get S75 protection if anything went wrong, ie you can take the matter up with the finance company or the clinic/hospital. This doesnt apply when its a regular loan with cash in the bank