If you took a BBL are you repaying it?

[d000hg]

Why did so many people on here apply for it? Is it just a case of "we can, so we will" or what?

By "so many" you mean 3 (4 if you count me but that's a proper B&M business)? Go search the forums for past discussions, there were several. But yes, "I might as well" was a common angle as was "I might need it, better take it just in case".

[ensignia]

Why did so many people on here apply for it? Is it just a case of "we can, so we will" or what?

[d000hg]

I paid it back - didn't want to be on anybody's RADAR if they start looking at companies who took it or something. And I didn't feel comfortable spending it on anything

Are you insinuating that you've done something not entirely above board? You'll be on the radar from taking it either way I'd say

[ladymuck]

I paid a lump sum equivalent to a year of repayments just before the repayment period started and am now repaying monthly. HSBC recalculated the monthly payment to still make it last 5 years so I'm planning to make annual top up payments to get it cleared quicker.

[vwdan]

I paid it back - didn't want to be on anybody's RADAR if they start looking at companies who took it or something. And I didn't feel comfortable spending it on anything

[d000hg]

Monthly repayment - the actual capital is being used for various other projects.

As in you're actively using it for something you wouldn't have the capital for otherwise? None of my business what you're doing (though if you want to share...) but anyone who uses BBL to start something new, good on you.

[eek]

The company I run with Mrs d000hg (not contracting) took a BBL and payments are due to start next month - cut off for repayment without charge is mid-October.

We're going back and forth on what to do. It's a 2.5% interest rate (I am not sure if this is guaranteed or can change?) with 5 years of payments. This means a lifetime loan cost of about 6.5% which is clearly extremely cheap, but I'm not sure if we have, or would expect to ever have, need for it.

This isn't a "what should I do" thread, I'm just curious what you lot are doing - I know quite a few contractors took out BBLs - and your thought processes.

Monthly repayment - the actual capital is being used for various other projects.

[d000hg]

The company I run with Mrs d000hg (not contracting) took a BBL and payments are due to start next month - cut off for repayment without charge is mid-October.

We're going back and forth on what to do. It's a 2.5% interest rate (I am not sure if this is guaranteed or can change?) with 5 years of payments. This means a lifetime loan cost of about 6.5% which is clearly extremely cheap, but I'm not sure if we have, or would expect to ever have, need for it.

This isn't a "what should I do" thread, I'm just curious what you lot are doing - I know quite a few contractors took out BBLs - and your thought processes.