A reader from North London is looking to get a loan to fund a trip across America, but is uncertain if that is possible.
Jo Crosse, Halifax and Bank of Scotland personal loans expert, tackles the problem.
Jan from Barnet asks:
I’m planning a big holiday (once in a life time trip) across America. Is a bank likely to offer me a loan for this, or will they only give loans for something concrete like a car?
Yes banks do offer loans for holidays, in fact 6% of personal loans were taken to fund holidays in 2008 (Source: GFK/RFS data Oct 08).
Some banks may limit the term over which you can repay a loan for this purpose.
If you have a question for Jo, go to the myfinances.co.uk Ask the Loans Expert section
Or for more information on your loans options go to personal loans at Halifax
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