Re Finance current loan

Hi Guys,

I have a four year laon with ulster bank with 6,500 outstanding on it at the moment with repayments of 337 euro per month.

I apply to them to refinance this amount with them again over 4 years to cut my outgoings from 337 to just below 200 per month.

But after waiting 5 weeks they finally got back to me and declained to re finance the loan.

any ideas what i can do now??

Paul

Shop around? See the perhaps?

Be aware that extending the loan may mean lower monthly repayments but the loan will cost more in the long run.

Can you post any more background on the need for the original loan, the need for the extension and your overall financial circumstances?

Apply for a 4 year loan elsewhere and repay the Ulster Bank loan?

If it's a fixed rate loan, there may be a penalty.

Why did Ulster Bank decline your application?

I was declined cause i have a revocked credit card, but i have come to a repayment arragement with AIB as regards this card and have been makeing the repayments for 8 months now