best way to borrow £5000?

[pinkcowprint]

We are having a conservatory and need to borrow 4-5 grand to add to what we have saved up,what would be the best way,0%creditcard tn swap or a loan?

[MarkRae]

Do you own your own property?

[hc4361]

0% credit card. Tesco is doing 15 months at 0% on purchases.

[mazie]

Can't you increase your mortgage?

[andy-hughes]

0% credit card is good, because you can flip it half a dozen times until you get it paid off - assuming your credit rating is good.

[Kiki-frog]

0% credit card is good if you can pay most of it back while it's still free.

[pinkcowprint]

Yh we are homeowners but mortgage company wont let us borrow anymore!

[Ellipsis]

We always try to borrow within the family if possible. It keeps the interest rate down and allows the lender to earn a decent rate on their savings ...

[twix123]

Normally an increase in your mortgage would be best..but dependent over how long you wish, or expect, to pay it back, a nil % credit card should be your second option.

[NoMercy]

Quick question:

If you cannot afford to put enough money aside every month to save for this, how can you afford repayments?

[pinkcowprint]

Because we want it now thats why people borrow isn't it?

[pinkcowprint]

Thanks for everyones advice have 2 c.cards which are always offering o% so will look into that.

[squarebear]

There is an advert for Wonga.com on the right hand side of my screen. It says:

Representative APR 4214%

Have you considered that? ;-)

[DTCwordfan]

maybe pinkcow is Greek....

[pinkcowprint]

Haha im not that stupid and whywould i be greek??

[DTCwordfan]

Going into this form of debt when you can't extend your mortgage really is taking risk.....and you won't be bailed out by the IMF when things go tits up.

[pinkcowprint]

We have a lot of equity on the house as we put a big lump down the mortgage comp sid thyd just changed policy to not borrow extra or something,and if we knew we couldnt affotd repayments of borrowing the few grand we wouldnt be doing it.we have no other debts and you dont know our financial position.

[DTCwordfan]

Neither did it seem that the IMF had an idea of Greek finances either.....so why not save the money up for a few months more and then pay for it in cash - and no debt. Also, you may find that you get a much better deal with the builder/company if it is cash.......

[mike11111]

You won't get 0% interest using the cards you already have - this is for new customers to persuade them to switch. You should take out another credit card with the same offer. Obviously you will need a credit limit sufficient to cover the cost of the purchase.

[pinkcowprint]

Thankyou for worrying about me but we have a baby on the way in august so i want it done before then,and i am impatient and hormonal and i want it now!! We will be ok honestly! Lol...

[pinkcowprint]

We have a card with nothing on and we have 3 month to purchase at 0%,then we can swap to the other after 17 months.