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Money Troubles

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    BunnieBunnie Posts: 6,099 Master Poster
    Kermit wrote: »
    It wasn't that blunt:(



    Shopping around for a better loan might not be such a bad idea, but be careful of taking out a loan that is for more than what you originally borrowed.

    what do you mean? Sorry, I am slow as you are aware :p
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Kermit wrote: »
    It wasn't that blunt:(


    Yeah it was quite tame for you :p
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    .
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Calvin wrote: »
    Get a better loan to pay it off. ?

    :yes: But open up an Alliance and Leicester First Premier account first.

    When I got my first Career Development Loan statement it was shocking. I'd borrowed £8K to get me through my masters and was paying £181.10 per month over 5 years, but after the first 12 months I still had just under £7K to go! When I asked Barclays (who I had the CDL out with) about their personal loans, all they'd offer me was one with a really nasty interest rate, but when I went to A&L, because I had a current account with them I was guaranteed their best interest rate (5.7% at the time :D) if I was approved for a loan. So I was able to get a £7500 loan to repay over 4 years and now am only paying £175 per month (for an extra £500, too! I couldn't borrow any less as £7,500 was the smallest loans they'd do).

    I know that the interest rates aren't as nice any more, but it's worth giving them a go.
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    BunnieBunnie Posts: 6,099 Master Poster
    Meryn wrote: »
    :yes: But open up an Alliance and Leicester First Premier account first.

    When I got my first Career Development Loan statement it was shocking. I'd borrowed £8K to get me through my masters and was paying £181.10 per month over 5 years, but after the first 12 months I still had just under £7K to go! When I asked Barclays (who I had the CDL out with) about their personal loans, all they'd offer me was one with a really nasty interest rate, but when I went to A&L, because I had a current account with them I was guaranteed their best interest rate (5.7% at the time :D) if I was approved for a loan. So I was able to get a £7500 loan to repay over 4 years and now am only paying £175 per month (for an extra £500, too! I couldn't borrow any less as £7,500 was the smallest loans they'd do).

    I know that the interest rates aren't as nice any more, but it's worth giving them a go.
    oh wow! that is certainly something to look into, thanks very much :)
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Alliance & Leicester rock. Brilliant offers/rates both for savers and borrowers.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    May sound like a really dumb question, but what exactly is the graduate loan? I'm guessing it's just a loan for when you finish uni, but why do people get these?

    Sorry for the naiveness, but I'm intrigued!!! :blush:
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    In case they want to do postgraduate study :)
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    ShyBoy wrote: »
    In case they want to do postgraduate study :)
    Oh, right! lol! :blush:
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