kennySRi
Member
Registered: 12th Nov 10
Location: Lancashire
User status: Offline
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Pretty simple really, im needing a smallish loan (around £3k) and i can easily pay it off whether it be in a year or 3 years but i dont know where the best place to go and what i shall do first? Back in my youth i didnt have the best record for paying very small loans back but since then i havnt touched one and have been in a job since then for 6 years with, although not a large, a steady income.
Should i go into my local bank and speak to someone or is this something i should do online? I dont want to be trying and being told i cant have one and then make it harder for the next place il be trying. I always buy things out right but at the moment my money is tied up in my cars and i suppose in the long run it can only be a good thing as i would of proved to the banks that i can pay off payments on time...
Any help appreciated apart from comments like 'if you cant afford you shouldnt be asking' 
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richc
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Registered: 24th Mar 07
Location: Ilkeston
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Online. I got £10k without seeing anyone and took about 5 days in total.
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kennySRi
Member
Registered: 12th Nov 10
Location: Lancashire
User status: Offline
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I seem to remember last time i went onto my online banking (barclays) it was offering me around £10k but i didnt click it as i thought it was just a message everybody will get. Maybe i should go back onto it and see what's what. I dont want £10k though
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IvIarkgraham
Premium Member
Registered: 27th Mar 04
Location: Ellesmere Port, Cheshire
User status: Offline
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sometimes its better to get a larger loan (7.5k usually) because the rate is far superior
as long as you dont go mental and blow it all
try your bank first then head over to money supermmarket
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ed
Member
Registered: 10th Sep 03
User status: Offline
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For £3k in over one year, it might be cheaper to get a 0% credit card (or maybe more than one depending on the limit): http://www.moneysavingexpert.com/loans/cheap-personal-loans
There are comparison sites that ought to show you the best deal too:
http://www.moneysupermarket.com/loans/
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kennySRi
Member
Registered: 12th Nov 10
Location: Lancashire
User status: Offline
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Just been onto my online banking and when i go onto the barclay loan option it says iv been selected for one upto £20k. I obviously dont want to take this out so put the amount i want and it was 18.9%apr which is a bit steep. Im not going to do it today but if i was to click apply for that does that mean i can get it within the 3 hours it says or will it then go through my records and may tell me that i cant have it and it was just an example of what i may be allowed?
Sorry for all the questions, i just like to know what i can and cant have before planning things.
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kennySRi
Member
Registered: 12th Nov 10
Location: Lancashire
User status: Offline
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Thanks for the suggestions, il have a look on there now ed and mark 
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Jamie Walby
Member
Registered: 15th Nov 04
User status: Offline
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quote:
Originally posted by ed
For £3k in over one year, it might be cheaper to get a 0% credit card (or maybe more than one depending on the limit): http://www.moneysavingexpert.com/loans/cheap-personal-loans
There are comparison sites that ought to show you the best deal too:
http://www.moneysupermarket.com/loans/
Definitely the route I would go down. Obviously only if the thing you need the money for is payable on credit card.
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ed
Member
Registered: 10th Sep 03
User status: Offline
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quote:
Originally posted by kennySRi
Just been onto my online banking and when i go onto the barclay loan option it says iv been selected for one upto £20k. I obviously dont want to take this out so put the amount i want and it was 18.9%apr which is a bit steep. Im not going to do it today but if i was to click apply for that does that mean i can get it within the 3 hours it says or will it then go through my records and may tell me that i cant have it and it was just an example of what i may be allowed?
Sorry for all the questions, i just like to know what i can and cant have before planning things.
Depends on how quickly they do it, often your bank will give you the loan (in principle) on the basis of a shadow credit file they hold on you (i.e. not one held by a credit agency). If you accept the quote they give you they do everything officially and will have the money with you within a few hours or a few days depending on what they quote you.
[Edited on 12-05-2012 by ed]
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kennySRi
Member
Registered: 12th Nov 10
Location: Lancashire
User status: Offline
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Jamie - Unfourtanetly it cant be paid off by a credit card.
Ed - That's good to hear then. The loan has been written to say that it is for me and has been calculated due to what they know of me but i wasnt sure if this was just what they tell everyone just to be told no afterwards lol.
I won't be doing it until during next week anyway. The compare site comes up with plenty of companies offering around 9% so il have to check them out really.
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neoquip
Member
Registered: 12th Aug 02
Location: Nottm
User status: Offline
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quote:
Originally posted by ed
For £3k in over one year, it might be cheaper to get a 0% credit card (or maybe more than one depending on the limit): http://www.moneysavingexpert.com/loans/cheap-personal-loans
There are comparison sites that ought to show you the best deal too:
http://www.moneysupermarket.com/loans/
+1
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taylorboosh
Member
Registered: 3rd Apr 07
User status: Offline
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It goes up from what they say they will offer
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pow
Premium Member
Registered: 11th Sep 06
Location: Hazlemere, Buckinghamshire
User status: Offline
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My virgin credit card I catransfer money into my current account and still keep the 0% finance deal.
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JaffaTB
Member
Registered: 7th Oct 09
Location: Sheffield, South Yorkshire
User status: Offline
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i've thought about going mad and applying for loads of loans and credit cards and taking a load of cash out and just not paying it back or offering a fiver a month, and then i realise im just being daft
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Rob R
Member
Registered: 31st May 03
Location: Kent
User status: Offline
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Take out more than you need to get the lower rate, pay what you don't need straight back off of it.
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fred7
Member
Registered: 17th May 04
Location: Rugeley, Staffordshire
User status: Offline
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Rob r u cant always pay lump sums off incase paying the whole lot off. I found supermarkets are best. Ive had loans off tesco and coop and always been quick and good rates. If they accept u online they then do a full check and sometimes cum bak with a higher rate or same rate if all is good.
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Bart
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Registered: 19th Aug 02
Location: Midsomer Norton, Bristol Avon
User status: Offline
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Halifax are about 8.8% IIRC
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taylorboosh
Member
Registered: 3rd Apr 07
User status: Offline
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natwest 6.9
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fred7
Member
Registered: 17th May 04
Location: Rugeley, Staffordshire
User status: Offline
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All these rates r great if u r highly paid with a credit rating of over 92% (wat i was told by bank) if u av been offered 18% then think u wud struggle gettin those low rates
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taylorboosh
Member
Registered: 3rd Apr 07
User status: Offline
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dont need to be highly paid, just need to pay what you owe on time
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Toby
Premium Member
Registered: 29th Nov 05
User status: Offline
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quote:
Originally posted by fred7
All these rates r great if u r highly paid with a credit rating of over 92% (wat i was told by bank) if u av been offered 18% then think u wud struggle gettin those low rates
Credit ratings are measured in points, the highest being 999.
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Fro
Member
Registered: 20th Jun 06
Location: Rainham, Essex Drives: A3 2.0TDi Sport
User status: Offline
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Was going to say 0% credit card like others have said.
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