Funding your BA

Hi all - I know not everyone will want to talk about finances etc. but I wondered if there is anyone out there who didn't have ANY savings when they got their BA?

I've been researching for a while though haven't saved up because life happens & I've only recently started to think that I'm actually going to go through with it after years of contemplating! I need a lottery win :-(

What are peoples experiences of paying by finance with different clinics? It peoples advice from personal experience if a bank loan is better?

Or* not it in last sentence :-) I've just verbally accepted a new job with a pay rise so I'm hoping to be able to start putting some aside but I'm impatient :-(

Hi I've been looking at loans on compare the market and want to pay about £100 a month for mine

Generally you will get a better deal in the banks compared to the financial terms that the companies offer...I would look round if you are thinking of finance...x

Jessjameson have you seen any good deals/interest rates so far? I'd like to pay around that but that'd take quite a while to pay off... I'd ideally like to pay it off quite quickly but just wouldn't be able to afford it. Just need to make the leap I think lol! I just already have a car on finance and hopefully next year will be buying a house, but.... Boobies!!!

Hi yeah there are some ones that are £94 a month for 5 years borrowing £5000  I can't afford boobs either really so I will have to take out a lone but it will be worth it who cares about cars and houses boobs come first and so do we!

I've a loan through  something called peer to peer lending. Totally underrated, not very well heard of yet (checked it all out through Martin Lewis) borrowing 4100 coz I saved my deposit first, paying 86 a month for 5 years. You can pay more a month if u want with no extra fee, there's no early settlement fee and it's only 9% apr. Xx

The Money Saving Expert site has a good guide on the best loans available. £3000 at 7.8% APR or £5000 at 5.6% APR is possible, apparently.

My decision to go through with it was based on the fact that Id applied for a credit card and they gave me enough for it! I put £500 deposit, and the rest on the card. I got 12m free interest on that card, and paid off a lump sum with last years bonus. When the interest free ran out this Feb, I looked for another card with 0% on balance transfers with the lowest fee, moved the balance to that and will have it paid by Dec. I'm paying £100/m, have paid no interest, 3% card fee (applicable most places if you put it on a credit card, around £110) plus £8 balance transfer fees.

Credit card is a good way to go because you are covered for the money if something goes wrong. However, this is all subject to your credit score. Even with the loans, until you apply, you wont know if its available for you.

Everyone here finds different ways to pay for it that's best for them. Some save and save, others pay for it after. Theres no right or wrong way, as long as you can afford it and it doesn't get you in trouble financially.

Hey, 

I had some savings, but still had to save about £ 500 then put the rest o  a credit card but got anothercard with 0% interest for 25 months so am paying about £100 a momth of it -shoild be finished paying for my boobs in sept 2014. Month before my boobs are a year old !!!!

I've started looking at stuff I can sell - I have plenty of stuff I don't use that just collecting dust so I've decided I'm gonna start saving & see how I get on! Plus the new job should help... Probs won't save all, save a decent amount then maybe look at credit cards, I have one but its only interest free until August & I've only for £400ish credit on it at minute haha... Slightly short!

One of the hospitals that has quoted me has offered the option of an interest free loan from First Medical Loans. It might not suit everybody though, as the term is only six or ten months and there is a £55 arrangement fee.

Interest free medical loans can be good - as long as you pay them off in full before the interest kicks in, because they can be really high. They are also a little more lax in their credit ratings, which can be dangerous because they will lend money to people who aren't necessarily able to repay. I used this option when I had my eyes lasered, and made sure I had the outstanding balance paid in the 10months free. Often private loans can be better interest rates. Money Saving Expert can direct you in the direction of the best rates for you.

I don't need a loan but I was initially interested as it looked like the interest free option would actually make me money. However, the arrangement fee doesn't make this a worthwhile option.

I paid for my BA with a loan from first medical loans. We had the money saved but decided to leave it invested and pay monthly for 10 months, I have paid no arrangement fee

B x

That's interesting, maybe it is the hospital that charges arrangement fee. I'll try asking First Medical directly.

Thanks

My BA was £4150, I put down a £2,000 deposit and pay the rest over 24 months at 18% which is the best i could get really with MYA was banks would probably decline me with being a part time youngster living with parents

Does anyone have direct experience of Mya finance? I'm going off memory as I was looking at their website the other day but is it right you can now give 500 deposit and arrange finance for the rest??? % APR anyone???

i was going to do Mya Finance at first in January but decided not to go with them , im going with spire will have most of my money saved up by august now. But if i need anymore money im going with first medical loans if you can pay it off within 12months there's no APR.

im sure thtas who mya uses but they charge you APR i think cant remember now it was 5 months ago lol .

could also try a 0% credit card .

xx