cahoot.co.uk Flexible Loan

My interest rate went from about 12% - which wasn't great but the flexibility of the loan set up was outstanding - to 21% within a few months!!!

I managed to pay out the loan with a credit card 'cheque' so it was a balance transfer to a more realistic 6.9%.

I wonder if all flexible loan customers know about the rate change?

From 4Q 2006, Cahoot are no longer offering the 'Flexible Loan' to new customers. Further, they have dropped a bombshell on existing customers by pushing up the interest rate out of all proportion to the increase in the Bank of England base lending rate. In November 2006 the interest charged on my loan was 9.1% APR. This increased, on 01 December, to 9.4% APR (fair enough), but with effect 14 December 2006 the APR has increased to 14.9%!!! At the same time Cahoot are offering alternative Fixed Rate loans, which are available only through their parent company Abbey. The policy clearly seems to be to persuade existing Cahoot customers to transfer their loans to Abbey - I ...  Read the complete review

I needed a loan which I could pay back early without any penalties, so I took out a 3 year loan which I new I could afford, and was able to pay it all off withing the 1st 15 months with out any quibble. Perfect and I was hoping to use them again but just get linked now to the Abbey who do not seem to do this. Shame!!

A few years ago I found myself in some financial difficulty and deperately applied for several loans. I was accepted for one with an organisation I won't name here, but the interest rates were phenomenally high so on a £3000 loan I was paying back £140 a month. After a while these payments were beginning to take their toll, especially as by this time I had spent the full £3000 and wasn't in a much better position than beford and now I had these payments on top of all my normal expenses! I had another browse and Cahoot popped up as one of the options. I had seen some of the slightly strange adverts on tv before( you know like the one where they are ...  Read the complete review

~~~~This is an update~~~~ Cahoot are offering the chance to have £50 credited to your flexible loan account. All you have to do is simply transfer a balance from another credit or store card of £1500 or more before the end of December. If you are an exisiting customer you can go ahead and do the transfer now, if you haven't yet opened an account, get cracking! The £50 cash back will be credited to your account in February and you need to keep the balance on your loan until then. Check out the T&C's at www.cahoot.com. The same offer also applies to transfer on an exisiting or new credit card. ~~~~~~~ Ok, you may or may not have read ...  Read the complete review