Cahoot fixed rate loan?

kissanpoika

Hi,

I'm just looking around at what loan I want to apply for and I've seen the Cahoot 5.8% fixed rate loan which I like the look of. Does anyone know anything about this? I'm going to borrow £8k which I want to pay off over 42 months. What are the chances of getting offered the loan at this rate? Or is it one where I need to take out their PPI to qualify for it?

Thanks!

fitorbust

Hi - I've just had a loan with them without the PPI, and rolled it over to a new loan without penalty. They are efficient enough and the web site is good for checking things.
I had 10k, and got down to 1.8k then rolled back to 10k over 3 years.

CTT_2

Like most financial institutions they are all good at taking your money and their interest.

fitorbust

Yes - that may be so, but if you want a loan for something else ( ours is a new roof) it is much easier to deal with a company that knows your situation, and by dong that it kept me at a low interest rate with everything on one loan.

Polly

The Alliance & Leicester Moneyback loan that was recommended in last week's email from Martin is 5.5%. Click on the link and you can input the amount you want to borrow and find out the monthly repayment. However, do not take the insurance as it is VERY expensive. I took a £15,000 loan over 3 years and the insurance was over £2000! They put me under a lot of pressure to take the insurance but I insisted I had my family covered for every scenario they put to me. Hope this helps.