Advice on small ish amount of money to borrow (£1.5k)

[misstory]

Was looking for some advice really.
Have overspent on some home improvements and need the extra 1.5k to finish it off. This is now committed so can't not do it to save the money. I am very lucky in that the money to fund the rest of the work came from family (a gift) so asking to borrow more is not an option.
I have a barclaycard with £1k left to repay on it with the interest free period coming to an end in July. No other debts other than a mortgage and student loans. Barclaycard keep sending me deals and I could have the cash into my bank account with a small fee and no interest until June. This sounds good but I could not repay the £1k and the additional £1.5k before the interest free period runs out so would be paying 18% ish after June. I am also worried about the effect a cash transfer might have on my credit rating.
I looked at a personal loan through my bank but that would be 15% interesr starting straight away but could definitely repay it over a year and it probably would not affect my credit rating.
The other option would be to request the £1.5k as an overdraft? Then there would be some weeks it's not very overdrawn (the week after payday and before the Bill's go out) and might give me the onus to pay it off sooner if I gradually reduced the overdraft facility by say £200 a month. This would take some self discipline though and it is horrible being overdrawn.
So just after some advice or any other suggestions people might have. thank you

Is the high APR on the personal loan because it’s such a small amount?

In which case, I’d be tempted to look into taking a larger loan over a longer period to get the lower APR, then immediately pay back a significant proportion of it so I wasn’t tempted to spend it.

Obviously, you’d need to ensure you could meet the monthly payments.

Have you looked at getting a loan from a credit union? www.moneysavingexpert.com/loans/credit-unions/

My friend got one recently and said she is paying much less interest than on her credit card.

Take the money on your credit card if it’s 0%apr until June then get another credit card that offers 0% credit transfer and move the balance onto that.

Then pay it off cut up the cards and never have credit again!

I got court in that cycle and ended up in £45k of debt.

Banks want to make money out of you and the only way they can do that is to get you in debt that’s why they keep offering you more money.

hi thanks all. yeah think would have been a high % apr as is quite a small amount.
Thanks for the suggestion of a credit union - found one which I might possibly only have to pay 8% on so would only pay about £50 to borrow that amount for the year. I have put an application in so fingers crossed it is successful and I get the advertised rate

You could apply for a credit card that does a 0% spending offer:

www.moneysavingexpert.com/credit-cards/best-0-credit-cards/

Pay for whatever the £1500 is for on the card, or if the supplier doesn't accept credit cards, put £1500 of normal spending on the card instead (groceries, petrol etc) and use the money saved to pay off for the £1500 worth of home improvements.

This will then give you a couple of years to pay off the money, and won't cost you a penny.

thanks Barbara, will need to pay this money within the next couple of weeks though and they don't take cards and won't be spending that much money in that time.

that's a bloody good offer though!!

Go to Zopa loans. They’re a peer-peer loan company, so you pay almost no interest and can choose how long your repayment period is. Cash goes through to your account in a few days after you’re accepted. They are very contactable on the phone as well.

This morning I've done a balance transfer for 18m 0% interest and 2.9% fee

Halifax are offering 0% money transfers with 3% fee

I would have thought the best option is to use a 0% credit card even if you won't pay it off by the end of the deal as you can then just move the balance to a new 0% deal near the expiry date.

ok well bit if an update. I read the barclaycard details a bit better and it's actually 0% up to June 2020 so as I should be able to have repaid it by then I have gone with that and the money should be in my account by tomorrow and I have withdrawn my application with the credit union.

Santander - got a 0% interest for 24 months with a 0% balance transfer fee! Look on money saving expert

Sorry, my post should say “I got” ... and it was back in the summer

Family that could lend you the moment?

You could do a combination of a zero % card for ‘normal’ spending to defer, and a short term payday loan that you pay of ASAP. Then pay off the zero % before it becomes interest payable.

Or an arranged overdraft in tandem with a zero % card