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loans with no early repayment

eaglesrjh
eaglesrjh Posts: 376 Forumite
Need a loan for about £15000 want to take it over 7 yrs to keep monthly repayments lower just now.
However all being well i will be able to pay it off in about 6 months time.
So who does loans with no early repayment fees, I believe egg do but does anyone else?
Or are the likely early repayment fees on this loan not overly worth worrying about. I.e "your personal loan.co.uk" could do a loan at 6.9%apr with 1 months interest to pay for early repayment. what is 1 months interest on this amount?

Cheers for any help
if i had known then what i know now

Comments

  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    is more important to get a low APR loan rather than worry about early settlement figure

    One month's interest is approximately
    15,000 x 6.9% /12 = £86
  • eaglesrjh
    eaglesrjh Posts: 376 Forumite
    even if the plan is to repay in 6 months time?
    if i had known then what i know now
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    frankly, if you are repaying in 6 months does £86 matter than much?
    but a difference of 1% in the APR over 6 months will cost you
    15,000 x 1% x 6/12 = £75

    so depends upon your options
  • eaglesrjh
    eaglesrjh Posts: 376 Forumite
    in that case who is good at getting money to you quickly?
    if i had known then what i know now
This discussion has been closed.
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