We’ve got work starting on our place in September. We’ve been saving for the past 2yrs for the work but wondering what the best options are for us should we need to borrow extra to complete works eg we haven’t budgeted for new carpets upstairs but whilst we’re moved out we might as well.
A regular loan would seem not terrible idea and plan would be to pay off within 12m.
But just checking the hive mind that there isn’t a ‘better’ option (other than spend less! 😂)
15k 5y term tends to be the cut off for the low 3% unsecured rates.
More money or longer term tends to double to 6% or more, so makes sense to add onto mortgage above this level. Though 5k extra can go on an interest free card fairly easily.
We’ve got work starting on our place in September. We’ve been saving for the past 2yrs for the work but wondering what the best options are for us should we need to borrow extra to complete works eg we haven’t budgeted for new carpets upstairs but whilst we’re moved out we might as well.
A regular loan would seem not terrible idea and plan would be to pay off within 12m.
But just checking the hive mind that there isn’t a ‘better’ option (other than spend less! 😂)