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short term loans
in late november last year my bank(nat west)rang saying that as my overdraft was over £7,000 i was paying too much interest and should look at a long term solution (re mortgae)to avoid early repayment fees we had to wait til 1st feb 2008.
in the mean time the bank gave me a short term loan of 10,000 to settle my overdraft and see through xmas/new year and settle the loan when the morgage gets set up.
having paid 2 re payments of £253 i asked what the settlement figure is and its £10,250 more than i paid meaning that in 3 months its cost me £700 not $83 a month in charges.
is this correct?
help and advice very apprieciated
in the mean time the bank gave me a short term loan of 10,000 to settle my overdraft and see through xmas/new year and settle the loan when the morgage gets set up.
having paid 2 re payments of £253 i asked what the settlement figure is and its £10,250 more than i paid meaning that in 3 months its cost me £700 not $83 a month in charges.
is this correct?
help and advice very apprieciated
0
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