Cahoot flexible loan
#1
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Anyone got one of these ?? Me and the Enemy are going to take one out but from reading the Ts & Cs I cant see if there is the facility to overpay the monthly payments so that you pay the loan off earlier (similar principle to Virgin One/Woolwich Open Plan mortgages).
Can anyone help ?
Can anyone help ?
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I was looking at them and although they appear to be fairly flexible in regards to payments it appears their interest rates are variable. Over 4 years which I was looking to get my loan thats a bit concerning and put me off totally.
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cahoot loans are very good (I worked for cahoot whilst building the value proposition, so no bias there
) but I prefered to dip into my 'overdraft' reserve with the Woolwich Open Plan ... seems to work for me as I'm only charged interest on what I'm borrowing and can pay it back whenever I want (as long as its before the term of the mortgage, which does require discipline and you ought to be careful here) which I like and works for me. In effect I'm borrowing at mortgage rates which is OK!
Cheers
Phil
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Cheers
Phil
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