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Will you give your bounceback loan back or retain it?

  • Thread starter lookingforadvice
  • Start date
L

lookingforadvice

Member
Verified Member
As the first year of the bounceback loan is free of charge and free of interest, you could effectively return this at the end of the 12 month period for no cost whatsoever. However, with the extremely attractive lending rates fixed for the term (six years including the 12 month free period, from memory) surely it must be worth keeping the loan and reinvesting where possible?
 
mingstor

mingstor

New Member
Verified Member
Yeah, it sounds really attractive, but I'm not sure if that's possible. Even though, if the investment was not a success and you can't pay back your bounce back loan, there is nothing much to wowwy about. Your credit rating may be affected at the bank. However, you can apply for multiple loans, in order to avoid any possible troubles. Also, for more detailed information, check out Mortgage Advice London company. They will consult you and will provide step by step help with your application. Hope it will help.
 
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