Hey all,

Just a quicky here.

I took a loan out stupidly about 20 months ago, and have around 16 months left to pay it.

I can't find the paper work at the moment, but will dig it out at one point.

Are loans in general a fixed rate, or can they be variable?

I only ask because i took it out at a stupidly high rate around 12%, and i'm thinking if i either got a top up or a new loan, i could pay the current sum off and save the interest.

Thoughts...?

I'm not sure what the current rates the banks are offering, they might be good at the moment if they are running in line with base rates.

I've been looking at lending money on ZOPA, so go and check it out over there, the average loan is 9% according to their stats.

Generally I'm under the impression that loans are fixed rate, unless clearly stated otherwise.