Loan for home improvement bank rates

[Luckycharm]

Hi, Does anyone know what best site to find out Loan rates sorry if posted already, my bank UB offering me 7.7% but would like to shop around.

 

[irishlinks]

You could put it on your mortgage - probably lower rate but possibly costing more in the long run because over a longer term?
Otherwise - depending on the amount you want - First Active and Tesco have the lowest fixed rate personal loans at the moment.

 

[Luckycharm]

Thanks see Tesco is 6.6% will ring first active

 

[Satanta]

...but possibly costing more in the long run because over a longer term?

This can be offset by increasing your mortgage repayments (e.g. put the same ammount that you would into servicing the loan into overpaying your mortgage) against the capital and you should end up with the lowest net cost for the loan.

As it is for home improvements, you can also gain (dependant on your specific situation) additional TRS savings on the debt.

 

[PM1234]

You could put it on your mortgage - probably lower rate but possibly costing more in the long run because over a longer term?

Its generally not a good idea to add short term debts to your mortgage for this reason. However, this can be offset by taking a top up over a shorter term eg. 5 years while leaving your original mortgage to run its term. As Setanta has pointed out already this can be offset in other ways.