Credit To buy now or to spread the payments

This article is an opinion piece and is not to be taken as a statement of fact.

Dunster House is not regulated by the FCA which is why we do not give financial advice.

We don’t offer credit at Dunster House. Credit Companies charge us, the supplier, for their services. These charges would increase the cost to you, our customers. Even if you did not take advantage of a credit agreement.

In the spirit of being informative, we have at Dunster House done some research on your behalf.  Again we would like to stress that we are not regulated so this is an information piece not formal advice.

There are many methods of arranging instalment payments, such as applying for finance externally via your Bank for example. This will allow you to borrow a sum of money and pay it off monthly to your chosen term. A good place to start is a comparison site there are many out there. You will be asked the purpose of the loan, a Log Cabin or Garden room/Office is a Home Improvement.

To buy now or to spread the payments - Credit cards

Take advice on whether to take a personal or secured loan, remember if you cannot make the repayments there is a risk of credit impairment or even losing a property. Opinion would say only borrow what you can comfortably afford to repay each month.

Another way of deferring payment is by applying for a 0% interest rate credit card. There are many available in the market so it is best to shop around to find the best deal whether it is interest free for 12 months or longer.

You can always check your credit score and applicability for credit cards or Bank Loans through any UK Credit Reference Agency. There are 4 Credit Reference Agencies in the UK these being Equifax, Experian, Callcredit and Crediva. All will give you a list of loan deals or 0% interest credit cards that you may be eligible for. These 0% interest credit cards are usually only for a period of time so be sure to check the terms and conditions. Do remember our warning at the beginning that there is really no such thing as 0%, charges do follow. So check things out, if it looks too good to be true it probably is.

A tip for those of you that already have a credit card and might be paying interest charges,  check whether the 0% interest credit card also offers a 0% fee-free balance transfer option. Generally this means you can transfer over your current credit card balance for no cost at all, although it is always best to check this out with the provider, allowing you to pay off your Dunster House purchase within a time frame that works for you.


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