Where's good for a personal loan?
Discussion
Mad Dave said:
Morning all,
I need to take out a personal loan, to pay off some debts, and i'm wondering which bank/internet loan place is good and cheap at the moment?
Any ideas?
Thanks.
David
well, hsbc has just announced £9billion(BILLION!) in profits so i should think they've got a few spare bob they could loan you at a nominal interest rate?!
seriously, a friend conolidated everything with lloyds bank - they seemed pretty reasonable and of course are pretty legitimate (for a bank). i'd avoid companies from those daytime tv ads!
good luck!
Northern Rock are pretty good, and I believe they're offering rates of 5.9% APR for loans up to 25,000.
Of course, if you have a home, and equity, then an equity release loan may be the cheapest option.
... although what you gain in a low interest rate may be offset by the longer term - and hence more to pay in the long run - that secured loans usually have.
A short-term, equity release loan is usually the best option if you can.
Of course, if you have a home, and equity, then an equity release loan may be the cheapest option.
... although what you gain in a low interest rate may be offset by the longer term - and hence more to pay in the long run - that secured loans usually have.
A short-term, equity release loan is usually the best option if you can.
Have yourself a little investigation at "Ye Olde Motlee Fule"...
...always good for the latest bits and bobs
...always good for the latest bits and bobs
Mad Dave said:
Thanks chaps. Ive just spoken to HSBC as that's who I bank with primarily. They offered me a fixed rate loan at 13.9%, which seemed a bit high to me. I'll check out Motley Fool, thanks for that.
You should be able to get a rate around 5.9%APR. depending on how much you needed to borrow....
Another vote for Northern Rock. I arranged a loan for the Chim at the local branch.. not only was the rate the lowest around, but the young lady who was my "personal loan adviser" was a very foxy chick with 
... and .... with a suggestive look in her eyes and a very sexy voice.. I reckon I was in for a guaranteed had I been available.
..oh the joys of marriage
>> Edited by M@H on Monday 28th February 14:29
... and .... with a suggestive look in her eyes and a very sexy voice.. I reckon I was in for a guaranteed had I been available. ..oh the joys of marriage
>> Edited by M@H on Monday 28th February 14:29
Cheers. I'm after about £6000 over 5 years, or even longer if offered.
re HSBC - just looked online and I think its 11.9%. Still high though!
Do these places often loan money to people with no history with them? I bank with HSBC and thats where my salary goes, so maybe theyre the only ones who will loan me money?
re HSBC - just looked online and I think its 11.9%. Still high though!
Do these places often loan money to people with no history with them? I bank with HSBC and thats where my salary goes, so maybe theyre the only ones who will loan me money?
Definitely, check out the online info sites. Moneysupermarket and moneyfacts are good. Also, if you have a mortgage, depending on your circumstances you may be better of increasing the mortgage on your property.
In my experience CAHOOT always hover around the "top of the league table"
In my experience CAHOOT always hover around the "top of the league table"
Mad Dave said:
Do these places often loan money to people with no history with them? I bank with HSBC and thats where my salary goes, so maybe theyre the only ones who will loan me money?
they all want to loan you money! - the trouble is more often than not they'll try to hook you in with an attractive rate then offer you a more shitty one once you have gone through the rigmarole of going through your details:
[littlebritainbankclerk] computer says no.....[/littlebritainbankclerk]
this sites pretty good -
www.moneysupermarket.com/Loans/loan.asp
good luck!
bergs2 said:
Do these places often loan money to people with no history with them? I bank with HSBC and thats where my salary goes, so maybe theyre the only ones who will loan me money?
they all want to loan you money! - the trouble is more often than not they'll try to hook you in with an attractive rate then offer you a more shitty one once you have gone through the rigmarole of going through your details:
[littlebritainbankclerk] computer says no.....[/littlebritainbankclerk]
this sites pretty good -
www.moneysupermarket.com/Loans/loan.asp
good luck!
LOL@computer says no.
I guess i'll just pick the most attractive rate and walk into a bank and say "I want THAT one!"
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