Big financial decision - loan amounts
 

I wonder if anyone can help here: I'm paying about 10k up front for a type rating and I need to borrow the money (got the job). In addition I have various other debt commitments totalling about 10k. I would also like to buy a flat in the next 6 months but without a deposit I'm faced with fewer options and poorer interest rates.

My first thought was to just get the loan and continue servicing the other debts (mostly 0% credit cards) separately, but it occured to me that I could borrow enough money for the whole lot, thereby consolidating everthing albeit at a higher interest rate (0% deals running out in 4-6 months). Perhaps I could even borrow an extra chunk on the same loan to fund a deposit for the property.

Any thoughts / advice on the matter?

Ta

..er hello?
 

Seems a strange idea..paying interest on a new loan to clear interest-free debts! If it was me Id focus on type-rating first (if the job offer is solid), then get a foot on the property ladder second and then review debts monthly - restructuring as necessary. Remember you can (with lender's permission) rent the property out for a while to minimise your outgoings. Good luck bm

It is a strange idea, but with three 0% deals running out in the next few months and a pain in the jacksie to keep applying for the deals I felt that 5.8%, no hassle and easier management of finances might be a better option.

Re the tr - it's my first 'proper' tp job and I haven't stopped grinning since I got the news!