Hi,
I currently owe the CU €5000 and have €2000 savings. I pay €50 per week off the loan. Myself and my partner have full time jobs.
We are getting married in August 2012. We will need a loan of around 21k for this. In the last year we have paid off both our credit cards and my partners CU loan so the only money we owe is the €5000 to the CU.
We plan on saving €500 a month at least and we will have summer and Xmas bonus from work also. Hopefully we will have around 10k or 11k by July 2012.
My questions are these:
1) Am I better off paying off the loan with the €500 every month or paying the €50/week and let the savings build up?
2) Would we qualify for a loan of 21k?
3) What's the best way to give us the best chance of qualifying for the loan?
I've only ever had 2 loans with the CU, never missed a payment (even though I was on a 3 day week for all 2009) and paid off both early.
Thanks,
NickyK
I currently owe the CU €5000 and have €2000 savings. I pay €50 per week off the loan. Myself and my partner have full time jobs.
We are getting married in August 2012. We will need a loan of around 21k for this. In the last year we have paid off both our credit cards and my partners CU loan so the only money we owe is the €5000 to the CU.
We plan on saving €500 a month at least and we will have summer and Xmas bonus from work also. Hopefully we will have around 10k or 11k by July 2012.
My questions are these:
1) Am I better off paying off the loan with the €500 every month or paying the €50/week and let the savings build up?
2) Would we qualify for a loan of 21k?
3) What's the best way to give us the best chance of qualifying for the loan?
I've only ever had 2 loans with the CU, never missed a payment (even though I was on a 3 day week for all 2009) and paid off both early.
Thanks,
NickyK