a basic loan..

[sara3]

I so need to get my bathroom done! I'm going to borrow £4k over 2 years. my bank, Barclays have offered me a loan at 16.9% but will price match any better deal (I'm sure there will be conditions attached).

I've looked on moneysupermarket.com and comparethemarket.com.

any better ideas?

and does anyone want to do my bathroom? :o)

[sara3]

what's a credit union?

I guess not, whatever it is!

[Jan1957]

Sorry sarato brag, but I spent today trying to get a loan to try and consolidate my debts as they're getting out of hand and couldn't find anything. In the end rung my bank, Lloyds TSB, and told them I was having difficulty meeting my payments and they let me have a loan at 7.11%. Couldn't believe it!

Hope you find something better soon.

[sara3]

hi Jan, and well done you! I assume that rate is because you're an existing customer. I don't see Barclays matching a loan I can't have. I guess you've checked the total you'll repay? no hidden costs?

my total amount repayable over 24 months is £4719.84 with Barclays.

[sara3]

that's interesting (no pun intended!), AnnieBody, but it's for residents of Southwark.. great idea though :o)

[Jan1957]

Think it must be because I have been with them for 30 years! Did check no hidden extras as well. I have to say Lloyds TSB have been ok to me. When I did once make a complaint to them they credited £50 to my account and I got a bunch of flowers delivered to me at home. Compared to some I have seen today that's not bad with Barclays though.

[tamborine]

total £4676? Sounds excessive to me for a bathroom.....how big is it? em me on FB

[sara3]

it's tiny, tambo, but I have expensive taste :o/

[bednobs]

this might sound a bt strange but have you looked at how much it would cost t borrow £5000? The interest rate may be cheaper

[sara3]

hi bednobs.. I had started to think that! if the interest goes down I might as well borrow a bit more, although I don't want to get carried away.

I may see if I can re-mortgage. surely that must be cheaper?

[bednobs]

re-mortgaging may be cheaper in the short term, but if you add it to the term of your mortgage (could be 15 years??) you will still be paying for that bathroom in 15 years time!