is there a better rate

lola_rose_3

is there a better rate than tesco 6.8%.. looking to take out a loan of 25k to consolidate loans

Russ_90

Don't bother if you're in a hurry,
I applied on Monday thinking it would be enough time to process a loan by 29th Feb.....still waiting for correct forms despite a promise that it would be here by 12 today.:mad:

Phantom_Flan_Flinger

Take note of these 2 conditions of eligibilty on the Tesco's website -

Loans used for refinance purposes can be taken for a maximum of 5 years except for homeowners who can borrow over 7 years

Loans used for refinance purposes of over £15,000 are only available to homeowners

For a loan of £25000, you'll more than likely have to secure it against your house.

_Andy_

I disagree - it won't be a secured loan it just means they consider homeowners to be a more acceptable credit risk hence lending more for debt consol and over a longer term.

Phantom_Flan_Flinger

_Andy_ wrote: »

I disagree - it won't be a secured loan

I certainly agree that an unsecured loan would be better, if they can get it.