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Hawa · 10-31-2007, 02:20 PM

All of the personal loans I have seen only allow you to pay back over 10 years and the amount per month for that is too much for me.If I could find one that I could pay back over 20 years I could afford it.Is this possible?<br />

Tom Ryan · 10-31-2007, 02:20 PM

Yes most banks and building societies will accommodate.
You must though have collateral to cover the loan.

Tzu · 10-31-2007, 02:20 PM

Only way to find out is ask loan companies. Most won't lend so much for so long unless it's secured I reckon..

Vitovt · 10-31-2007, 02:20 PM

Only on a secured basis - secured on a house. On a 20 year loan you would be paying a huge amount of interest. It would have to be a very pressing reason to mortgage my future like that.

Tzu · 10-31-2007, 02:20 PM

At the typical "average" long-term loan rate of about 10%, borrowing £20,000 over 20 years would cost you £134,550 to pay back.

I hope you are smart enough not to do something quite so silly if you can find a lender unscrupulous enough to make you a loan.

You can save up £20,000 in only 10 years if you put £40 a week in a savings account.

Don't spend money you haven't earned yet! That's how "poor people" are manufactured!

Supermanlet · 10-31-2007, 02:20 PM

PLEASE DONT LISTEN TO THE SCAMS BELOW
THEY WANT MONEY THATS ALL< YOU WILL NOT GET A LOAN>>>BCLIMBS IS A BIG SCAM I KNOW

10-31-2007, 02:20 PM	#1
Hawa Greenhorn Join Date: Jul 2006 Posts: 29 Rep Power: 6	Is it possible to get a personal loan for £20,000 and pay it back over 20 years? All of the personal loans I have seen only allow you to pay back over 10 years and the amount per month for that is too much for me.If I could find one that I could pay back over 20 years I could afford it.Is this possible?<br />

10-31-2007, 02:20 PM	#2
Tom Ryan Greenhorn Join Date: Jul 2006 Posts: 17 Rep Power: 0	Is it possible to get a personal loan for £20,000 and pay it back over 20 years? Yes most banks and building societies will accommodate. You must though have collateral to cover the loan.

10-31-2007, 02:20 PM	#3
Tzu Greenhorn Join Date: Jul 2006 Posts: 20 Rep Power: 6	Is it possible to get a personal loan for £20,000 and pay it back over 20 years? Only way to find out is ask loan companies. Most won't lend so much for so long unless it's secured I reckon..

10-31-2007, 02:20 PM	#4
Vitovt Piggy Bank Join Date: Jul 2006 Posts: 56 Rep Power: 6	Is it possible to get a personal loan for £20,000 and pay it back over 20 years? Only on a secured basis - secured on a house. On a 20 year loan you would be paying a huge amount of interest. It would have to be a very pressing reason to mortgage my future like that.

10-31-2007, 02:20 PM	#5
Tzu Greenhorn Join Date: Jul 2006 Posts: 20 Rep Power: 6	Is it possible to get a personal loan for £20,000 and pay it back over 20 years? At the typical "average" long-term loan rate of about 10%, borrowing £20,000 over 20 years would cost you £134,550 to pay back. I hope you are smart enough not to do something quite so silly if you can find a lender unscrupulous enough to make you a loan. You can save up £20,000 in only 10 years if you put £40 a week in a savings account. Don't spend money you haven't earned yet! That's how "poor people" are manufactured!

10-31-2007, 02:20 PM	#6
Supermanlet Greenhorn Join Date: Aug 2007 Posts: 14 Rep Power: 0	Is it possible to get a personal loan for £20,000 and pay it back over 20 years? PLEASE DONT LISTEN TO THE SCAMS BELOW THEY WANT MONEY THATS ALL< YOU WILL NOT GET A LOAN>>>BCLIMBS IS A BIG SCAM I KNOW

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