overpay daily interest on mortgage or just get a loan ?

[Ilovejapcrap]

Hello all,

Please help i'm rather confused.

So basically I have a small mortgage as well as my large one (would not let me add to existing!) of £5000

Its got 17 yrs left on it and is daily interest calculated

the rate is 5% I'm basically paying 33.70 a month.

i can get a personal loan for 3 years at 146.39 for the 5grand and will pay back a total of £5,270.

or i can over pay on the mortgage by £112 a month, which is best ????

[Ilovejapcrap]

Jockman said:

I didn't even know you could get a mortgage for £5k. I thought the min was £25k?

Shows what I know !!

i was trying to add it to an existing one. they made it a separate one

[Ilovejapcrap]

Whistle said:

Ilovejapcrap said:

i was trying to add it to an existing one. they made it a separate one

Are you sure they haven’t made it a sub account off your main mortgage?

I have 2 x sub accounts off my main mortgage.

Positive to a free standing mortgage