Loan required

Hi,

Can anyone please advise the best place/bank to go for a loan of 13,000.00 euro ?

Thanks

Not sure what you mean by "best" but the cheapest would be a mortgage top-up if possible, with the repayment scheduled over an equivalent term to an equivalent personal loan rather than over the lifetime of the mortgage.

You could also try the Credit Union but it may be difficult to get them to quote a rate that you can compare against other institutions' offerings (i.e. APR):




Some other loan offers are listed here:

www.askaboutmoney.com/clu...ONAL_LOANS

loan costs

Check out ifsra.ie for their cost survey on personal loan costs.

Loan

Would I be better off putting this on to my mortgage - there is plenty of Equity there. Would wish to pay it off in 3/4 years

Loan

If the choices are a personal loan over c. 2-4 years at c. 10% CAR versus a mortgage top-up payable over the same term (if you can get this and arrange this sort of term for the top-up) at c. 3% CAR then it is probably a no brainer that the latter is better.Obviously you should be careful not to get into the habit of doing mortgage top-ups in this way such that you start racking up debt but if you do need to borrow and can use the mortgage and schedule the top-up over a term comparable to an equivalent personal loan then it makes sense to leverage the equity that you own in your house in this way.