Payment holiday- secured loan

Jericho_of_Mancunia

Hi

Does anyone know of any loan companies who allow you to take a payment of holiday / defer the first payment for say 6 months?
Thanks

jonesMUFCforever

Not heard a lot of these type of loans recently. Try Googling for Deferred payment loans. Anyone else with a better idea.Only thing to point out of course is that if you find one the interest will accrue from day 1 and therefore before too long you will owe more money than you first borrowed and it will take longer to repay.
Eric

fatbelly

Black Horse do '1st payment after 3 months' and if you've got a Lloyds classic plus account the typical interest rate isn't too bad either. There are a few others that do the same deal (Norwich & peterboro, Ulster Bank) but the rates are higher.

The Post Office offer a very competitive 5.8% with one month per year payment holidays but these have to be nominated at the start of the loan (useful to leapfrog christmas). And I think they are a bit choosy about who they take on.

jonesMUFCforever

fatbelly wrote:

Black Horse do '1st payment after 3 months' and if you've got a Lloyds classic plus account the typical interest rate isn't too bad either. There are a few others that do the same deal (Norwich & peterboro, Ulster Bank) but the rates are higher.

The Post Office offer a very competitive 5.8% with one month per year payment holidays but these have to be nominated at the start of the loan (useful to leapfrog christmas). And I think they are a bit choosy about who they take on.

This is not quite what OP asked about , which I why I said that I could not readily find offers to support this. It might be that he has do this via a free Bal Tfr rate on a credit card.
Eric