Borrowing now, paying back later!

D

daithid2000

Registered User
Messages
51
Hi,

Is there any bank that will let you take out a loan and then start paying it back in a year or 18 months time?
 
I think it depends on what you want it for, Student loans work like this, you pay them off when you start working, not sure how long you can delay the first payment for though
 
No its not a student loan, it's a proper grown up adults loan!!!

Was kindof thinking with the SSIA's coming out, could I borrow, and then pay back with the proceeds of these.
 
One of the conditions of the SSIA is that you can't borrow against it so you can't really go to the bank saying you're borrowing on this basis.

Other options - overdraft? You could clear it in total when SSIS comes out, or get a variable rate loan over the longest period you can thereby keeping the repayments as low as possible until SSIA matures & then clearing the balance.
 
Obviously I wasn't going to tell the bank that I was using the SSIA to pay it back, but thanks for the tip anyway.


Was just wondering if there was a way. A friend of mine is getting married and was wondering if he could do this to pay for the wedding, and then pay the money back with the cash he gets as presents.
 
Again, if he stretches the loan for as long as he can, then repayments will be lower.....although he shouldn't have too much trouble getting a loan for the wedding & as long as it has a variable rate, he can clear in one go.
 
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