what would be the best way to borrow £3k

[ditavonteesed]

bank loan, mortgage extension or credit card. Want to pay it back over 12 months.

You need to compare interest rates. You might get a good loan rate if you shop around, and you need to speak to your mortgage holder to find out a) if you can extend your mortgage and b) how much this will cost both in fees and interest paid. Credit cards will probably be the most expensive way to do it.

You might get interest free on a credit card for purchases or balance transfer

It depends on what the loan will be for and how you plan to pay it back and what your credit rating is.

I would have thought a loan from a supermarket bank would be lowest APR, high street banks seem to be more costly, though you need to compare things. You also need to consider application fees (probably only applies to extending the mortgage but some loan companies may have additional fees, so read the small print).

I used to use Lombard for loans like that, for example to buy a car and repay it fast... fixed term loan, fixed interest, straight forward repayment. Lombard no longer lend to individuals. Supermarkets now do this kind of lending. I suspect 13-15% APR may be typical, though I suspect it will vary depending on your situation.

Tesco are offering 5k for 7.8%

www.tescobank.com/personal/finance/loans/

Sainsburys offering 7% to nectar card holders

www.sainsburysbank.co.uk/borrowing/bor_loans_small_skip.shtml?source=NETLOANZONESMLCLCK05

Depends on your credit score. Have a look on www.moneysavingexpert.co.uk

Hi

Is there any reason why you cannot save up over 12 month instead?

You could try using this small loans company on their website you can see how much money to borrow and how much you would need to pay. Alternatively use money saving expert website, or the .gov website for more advice.

Overdraft? If your bank will give you one we have capacity for a 2000 od on both accounts no charges and lower interest than a loan.

You could try bank loan

Definitely loan or credit card - not sure how you would do a mortgage extension and pay it back for a year.

As long as you can pay for the item on a credit card you should easily be able to find one that is 0% on purchases for 12 months - check out moneysavingexpert.com for best deal. Then you are borrowing for free. Even a loan would be at least 7% APR I would've thought.

Don't put it on your mortgage - you may have a lower interest rate, but you'll pay far more interest paying it back over 25 years than a loan of 12 months!

Using credit cards can sometimes be effectively free - but only do this if you are financially disciplined enough to pay it back before the 0% introductory rate runs out. Otherwise it will cost a fortune.

Interest fee credit card though they may offer you less than £3K - dependant on criteria. I did this to purchase some kitchen appliances last year to spread out the cost over the 18 months' interest free period which applied but I have set up a D/D to clear the balance before the end of the 18 mths.

I meant interest free obviously

Have you considered your local credit union? Their rates are usually really competitive.

Zopa

You could try peer-to-peer lending!

I second the credit union. Very competitive rates and you just have to have a common bond to join i.e community, workplace etc.