Re: 8%!?
Housing market loans are secured against the house, so much less risky.
For my business, I'm regularly offered loans at less than 1%. Small print is that the directors are giving a personal guarantee - that means my house is on the line.
Car loans for £20k are easily available at 4% (ish) as the monthly repayments are nice and low and tend to be repaid.
The 8% is for a risky startup - I'd want more than that if I was lending money to a startup. Wouldn't you?
Biting the hand that feeds IT
