Cheap Loans: How to get your lowest possible rate Discussion Area

edited 20 May 2014 at 6:33PM in Loans
44 replies 85.6K views
245

Replies

  • rehmanarehmana Forumite
    5 Posts
    I would send a covering letter with a cheque of the amount they say and oin the letter state that in settlement of the account .... based on their settlement figure in their letter dated ... I enclose a cheque for the settlement figure. Please confirm by letter that this account has been settled and is now closed.
    Assuming no problems, think yourself lucky and don't rock the boat !
    Obvioysly up to you but I think that's wha I'd do.
    If there is a problem you'll soon know about it
  • 6889joannew6889joannew Forumite
    527 Posts
    Hi guys basically i need some help, i need a loan for £4000 i can repay this within no longer than three months who's the best company to go with the least interest etc.
    I am starting up my own pub and basically i need the money to start up with any help would be grately appreciated
    Thankyou
    joanne
    OCTOBER/NOVEMBER WINS- HOLIDAY TO DUBAI/IPAD 2/KINDLE AND LOTS OF OTHER OTHER LITTLE BITS I LOVE COMPING!!!
  • thriftymommathriftymomma Forumite
    1.1K Posts
    Hi guys basically i need some help, i need a loan for £4000 i can repay this within no longer than three months who's the best company to go with the least interest etc.
    I am starting up my own pub and basically i need the money to start up with any help would be grately appreciated
    Thankyou
    joanne

    You need to write a business plan and head to the bank I think.
    Got Halifax Classic to reduce my interest rate by 5% woohoo - 10/06/08 Thanks MSE!
    Another 3% shaved off 10/12/08
    ANOTHER 4 % June 09:beer:
  • 6889joannew6889joannew Forumite
    527 Posts
    You need to write a business plan and head to the bank I think.
    Hi their,
    i have all mu buisness plans sorted i have a pub etc all courses done but the only thing i dont have is money lol
    Thanks thou
    OCTOBER/NOVEMBER WINS- HOLIDAY TO DUBAI/IPAD 2/KINDLE AND LOTS OF OTHER OTHER LITTLE BITS I LOVE COMPING!!!
  • edited 19 May 2009 at 12:47PM
    JAYZ_2JAYZ_2 Forumite
    1 Post
    edited 19 May 2009 at 12:47PM
    I would like some help.

    I have currently got 2 secured loans and one Unsecured. The secured loans are with welcome finance and 1 with Picture. Totalling around 45k with in total is around £630 per month. I also have a abbey loan for £15k in which i am paying around £350 per mth. I currently have a mortgage but cannot get further advance due to bad credit. I would like to get everything in 1 monthly affordable payment. I cannot seem to be able to talk to anyone and struggle through each day. I seem to be struggling with payments all the time and need some advice.
  • edited 6 June 2009 at 5:55PM
    cakinwandecakinwande Forumite
    148 Posts
    edited 6 June 2009 at 5:55PM
    Hi there,

    I need a loan of £5k and am struggling to get one anywhere (I have tried my bank and another bank). I have the highest credit score but I think I am getting declined as Equifax do not have me registered on the electoral role long enough. I never miss a payment, zero balance credit cards, no defaults, CCJs, etc

    Does anyone have any ideas what I could do?
  • jesselivermorejesselivermore Forumite
    11 Posts
    Part of the Furniture Combo Breaker
    I'd like to refinance the debt I have to lower rates. I've recently built this up on overdrafts and credit cards (all at close to 20% APR) whilst I was looking for a job. I've found a new role but it's a 6 month probationary contract and I'm not being paid a full salary yet.

    The problem is that my credit files show me close to my borrowing limits. I also have a CCJ, but it only shows up on my Equifax report. I have a few small black marks for missed payments in the last 12m but no serious issues like defaults.

    I recently applied for an Abbey National balance transfer credit card, on the basis that a) they only use Experian and b) they're owned by Santander which hasn't had major problems throughout the credit crisis. Unfortunately they rejected me on 'credit scoring' (no further details given).

    I've also applied to Natwest for a loan (APR came out slightly better at 15%) which they approved but then asked for proof of income. I had optimistically used my previous salary. So no go there.

    Any ideas how I can refinance my debt? Are any credit card firms still offering generous balance transfers for someone in my position? Am I better off applying for a loan and paying some interest? Would it help if I took out any old other credit card and didn't use the balance - so I have a higher % of unused credit? Or will this hurt me?

    Any advice appreciated even if anecdotal, eg "I was in a similar situation recently and this is how I solved it".

    Thanks in advance!
  • 491423491423 Forumite
    1 Post
    Having read the page about ways and means of acquiring money for a loan through a card, I am lost. It recommended having egg money in order to facilitate switching the monies. But egg money is not available to be able to follow this switch. I was interested to obviously get the cheapest option for interest to keep costs down. I am after about £4000. Should I just opt for a Bank Loan and if so , what is my best bet for lowest Interest ?
  • scoobyrascoobyra Forumite
    4 Posts
    Just been offered a flexible loan from natwest at 7.5% but the rate is variable! I'm now a bit worried about taking them up on the offer? I'm using it to replace my existing loan at 10.2% fixed. Old loan was 15700 inc interest over 5 years and they've settled that after 16 months at 9700 and cleared my od which brings the new amount to 11300. Old payment was 256 and new payment 135 over ten years but if I pay the old amount then loan will be cleared after 4 years IF the interest rate doesn't increase! Any suggestions welcome??
  • Help!! I need a loan but i have bad credit i want £9000 over 5 years at about £180 a month can anyone suggest anything???
    Freemans = £450, Alliance & Leicester Overdraft £275.00, Vanquis Credit card = £850 :mad: Second job = £200 per month.
This discussion has been closed.
Latest MSE News and Guides