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Bank loan question

alana171
alana171 Posts: 75 Forumite
Part of the Furniture 10 Posts Name Dropper Combo Breaker
in Loans
I have my current account with RBS - it is a premier royalities a/c, and i have a loan through RBS too probably with a preferential apr due to the royalties a/c.
Anyway if i was to change banks would my loan rate increase??

Any advice please

Comments

  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    It would depend on your credit score with the new bank and your credit history.

    Perhaps if you you were to say how much you have outstanding and the APR charged we might be able to offer more information and advice.
  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    I'm sure you could get a definitive answer by just giving them a call.
  • Kavanne
    Kavanne Posts: 5,093 Forumite
    Your loan is a fixed rate loan. If you cancel your royalties account your APR WON'T change.

    However, if you get a new loan from your new bank to pay it off, it's anyone's guess as to what their APR could be.
    Kavanne
    Nuns! Nuns! Reverse!
    'I do my job, do you do yours?'
This discussion has been closed.
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