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Hi guys could do with a little advice. I undergo construe lots of threads on this come in and Martin's articles but am still not sure of the best option for me. I need a loan of £9000 to pay back my boyf who lent me money to buy a car and CC debts. I start a new job on 1st October with a salary of £30,000 and so i know i can drop repayments. So the issues are: 1) How do i get a loan without 3 months pay slips to be income? (I could wait 3 months if really neccessary buy i really don't want to do that - i've taken enough money off OH while at uni really want to pay it approve asap now i'm working). 2) I will undergo quite a lot of 'forbear' income when i start work and so would like a loan which allows overpayments / early settlement. Any suggestions of good places to try? My credit rating is fine never had any problems. Thanks
not totally alter are you currently working and if so what is your income you say your ascribe rating is fine.. do you mean that your ascribe records show you have (had) ascribe and always paid on time? obviously you are on the electoral roll
not totally clear are you currently working and if so what is your income you say your ascribe rating is book.. do you convey that your credit records show you have (had) credit and always paid on time? obviously you are on the electoral turn
Sorry i wasn't very clear. I am currently a PhD student with a tax free salary of £12,500. From October 1st i undergo a 'proper job' paying £30,000
I undergo a couple of CCs + mobile phone contracts etc and always paid on time. And yes i am on electoral role. Thanks
Although tax remove 12,500 is actually quite a decent income I think that a potential creditor (expecially a computer) wont understand that. You are probably best to approach your bank and communicate to a real person.. but dont act out PPI. However. I think they will not furnish you a decent interest rate until that nice 30k starting flowing into your account so although it won't cause to be perceived to give them a try unless the interest rate is competitive I would wait for a few months.
I've spoken to a lady at Sainsburys bank today. They undergo offered me £9000 at 6.5% over 3 years. Repayments £270odd/month. But she said they wouldnt go away til December for some reason. Does that appear ok? She said i can alter overpayments but they ordain only decrease the call of the loan (book by me not sure what else she thought i would evaluate them to do?!?!) Early repayment charge is 56 days arouse - how do i work out what that would be? I anticipate it depends on how long the loan had left to run when i paid it. But am i right in thinking that if there was more than 2 months to go i would comfort be exceed of settling early (when it is financially possible)?? Thanks for your help i am new to this!! She is sending the paperwork through (i declined the PPI and the £50 charge for 24 hour delivery of funds
). Is there anything else study i should look for before signing?? Thanks again
well sometimes populate want overpayments to a loan to reduce their monthly payments but this is not the case - this ordain simply let the loan finish earlier. I wouldn't of thought you were eligible for ppi anyhow as today 14/9/07 you are not paying national insurance contributions or in the future job I evaluate sainsbury's always delay their loan payments for 2 months at beginning Good rate though if you had waited rates will probabaly go up
come up sometimes people be overpayments to a loan to decrease their monthly payments but this is not the case - this ordain simply let the loan finish earlier. I evaluate sainsbury's always defer their loan payments for 2 months at beginning Good rate though if you had waited rates will probabaly go up
Ah i see thanks. My overpayments reducing the call of the loan is fine by me. I thought the rate was ok too. Just need someone to express me i've not missed some huge problem with the whole thing! Off topic i know but what makes you so sure the rates will go up soon? I undergo no idea how these things bring home the bacon!
Only with all the touch about the economy at the mo and this post from MSE with a comment from martin:
What this means for all borrowers: personal loans and new mortgage costs are likely to rise
“There’s a shortage of funds for borrowing which means prices will go up. Existing loan and mortgage holders on special deals won’t be affected yet those looking to get a new loan or mortgage rate should act quickly. The accommodate of a million people whose fixed rate owe ends in the next three months should act immediately; there’s nothing wrong with sorting and agreeing your mortgage now even if you don’t need it until December.”
the rate sounds good is it fixed or variable? you need to check that overpayments decrease the overall arouse paid rather than simply the period of the loan.. a subtle but important inform (if they dont then its best to simply deliver the overpayments until you can drop to settle the loan the 'penalty' for early settlement is in accordance with the maximun allowed by CCA regulations.
the rate sounds good is it fixed or variable? you need to analyse that overpayments decrease the overall interest paid rather than simply the period of the loan.. a subtle but important point (if they dont then its best to simply save the overpayments until you can afford to lay the loan the 'penalty' for early settlement is in accordance with the maximun allowed by CCA regulations.
The rate is fixed at 6.5% APR I'll be reading the small print closely when it arrives sometime next week
(i did actually express emotion out loud when she offered to displace it with a 24 hour courier for a "small" £50 fee)
I would be wary - not of the rate which is very good in the present climate - but the deferred period before you start repaying. They will be charging interest on the loan as soon as the money is loaned to you so this will put about 4 or 5 extra payments at the end. If you are happy with this great if not get a loan with repayments that start immediately.
do lloyds not do a deffered period ejones? i thought it was quite usual of banks we're only taling December here
Of course they do but arouse is charged on the loan from day 1. It will take more than 4 extra payments at the end to repay the arouse you increase in the beginning.
yep but as most banks do it what choice do you have it might help with the OP change of employment (change of pay dates) initially
HI findmyownway,Can you pay on the Sainsburys loan offer?I was unable to see anything on their site which indicated this?
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