hello..
i am getting an interest only loan from a finanance company. Conld any one tell me how they charge their interest. Also what is the normal interest rate that should be charged per month. any feedback would be greatly appreciated. thanks
this is a secured loan on property that i already have...I have a bad credit rating and i am going to borrow off a private finance company.At the moment the large high street banks wont give me any money..the rate i was quoated was 2% interest per month. To get back on track i need to raise this finance
Who is the lender? Ask them what the APR is. If it is c. 24% then it is a crazy rate. Is there no other way that you can get by other than borrowing at this sort of rate? By doing so you could not only not sort your finances out but end up with even worse problems...