Which is best a mortgage or a loan?

Q: £ Hi

I have 25k to buy residential property as part of the Tennents right to buy scheme. Should I consider a loan because it is not a major advance amount.

Thanks


A:a loan. there is usually no redemption fee on a secured loan,tho' check of course,so you can kill it off quicker and cheaper. its a debt =it must die !! lol
as 'guy' says also not much choice in market for low amount so rate wont be any cheaper than anyway [?]

A:there are far fewer companies offer mortgages for such a small amount, but, Nat West is one of them – not that i can recommend their service – its !!!!!!!

interest rates are nearly always a great deal less than a loan interest rate.


A:Net6,
It depends on how much you can afford to repay and for how long you want to.

I do not want to be rude, but a is very similar to a loan. It is probable that any lender offering to loan you £25K will almost certainly look for some security, ie. a charge over the property, making it a secured loan, which is practically the same as a .

There are some very good fixed rate mortgages and loans available. I think I would be inclined to use some of the price comparison websites to assess the differences between the different products available.

I have saved hundreds over the last couple of years using them for things like , insurances etc..

Regards

Keith


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