Loan interest rates

[Tamar]

Due to an upcoming new purchase, I am in need to borrow another big chunk of money.

Just wondering what others are paying for the privilege of borrowing, including set up fee percentage, for a very secure loan deal.

The last loan I had was 1% over bank base rate. Fantastic when the bank rate went from 7% to 1%.
Unfortunately I can't get close to that now.

 

[uztrac]

Unwanted loan offered to me by the bank yesterday a base rate plus 3% fixed for 5 years at 3.25%
(unsecured ).

 

[Steevo]

2% is what i've heard.

 

[Doing it for the kids]

What do you call a big chunk!?

 

[Tamar]

2% is what i've heard.

Sorry, need facts not hearsay.

What do you call a big chunk!?

6 figure sum......

 

[franklin]

Repayment or interest only?

 

[d williams]

Due to an upcoming new purchase, I am in need to borrow another big chunk of money.

Just wondering what others are paying for the privilege of borrowing, including set up fee percentage, for a very secure loan deal.

The last loan I had was 1% over bank base rate. Fantastic when the bank rate went from 7% to 1%.
Unfortunately I can't get close to that now.

Natwest had something on offer 6 mts ago no set up fee or get out fees 3.45% up to £750k needed security I think

 

[Steevo]

Good point - set up fee often 1% or so.

 

[Tamar]

Well I thought Farmers borrowed huge amounts of money !?!

Maybe TFF farmers are the well off ones, especially as not a single one has replied with a definite answer !

Therefore next question ............. how much do you want in interest to borrow a six figure sum, all secured against the land I own ?

 

[jendan]

Well I thought Farmers borrowed huge amounts of money !?!

Maybe TFF farmers are the well off ones, especially as not a single one has replied with a definite answer !

Therefore next question ............. how much do you want in interest to borrow a six figure sum, all secured against the land I own ?

You need more than security(50%-60% max).At least 3 years strong accounts showing a very good profit,a good cash flow,and a very strong business plan,backed up with a plan B and C,if plan A goes wrong.

 

[Exfarmer]

The banks have become very risk averse. This has been forced on them by rules imposed to try and avert another banking crisis
They will very strong evidence of the ability to repay. The better the evidence the less interest you will be asked for

 

[capfits]

The fred the shred bank said 3.25% for 7 year term repayment + 1.5 arrangement fee.

 

[Tamar]

You need more than security(50%-60% max).At least 3 years strong accounts showing a very good profit,a good cash flow,and a very strong business plan,backed up with a plan B and C,if plan A goes wrong.

Ticked all those boxes .......

........so what interest rate percentage do you want ?

 

[Fergieman]

Business term loan 1.75% above base. No fees.

 

[Andrew1983]

Business term loan 1.75% above base. No fees.

Who is that with?

 

[Surgery]

Fixed 7 year term , 2.25% , just done it.

Well I thought Farmers borrowed huge amounts of money !?!

Maybe TFF farmers are the well off ones, especially as not a single one has replied with a definite answer !

Therefore next question ............. how much do you want in interest to borrow a six figure sum, all secured against the land I own ?

 

[Nearly]

How much for £100k for 24 months? Second cottage to build. Before planning expires and before I can sell block of land (7 year gift rules)

 

[Forever Fendt]

how long before you can sell land ? if its less than 3 years and you don't want to borrow the cash stick another application in with slight amendment and get another 3 years ,if they turn it down fall back to original plan. Perhaps you want to crack on with it though

 

[Poorbuthappy]

4.25% fixed for 25 years.
1% arrangement fee off top of my head.

 

[R J]

large 10 year loan last year 1.75 % above baserate , variable .
overdraft this year 1.5 % above base