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🎓 Got a student loan question? Head to our Student MoneySaving board
For discussion of everything to do with student loans and student finance, please head to our Student MoneySaving board.
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New to the Loans board? Start here
Useful links within the forum * Credit File & Rating board * Debt-Free Wannabe board Useful links to MoneySavingExpert.com guides * Cheap Personal Loans * Loans Eligibility Calculator * Cut Existing Loan Costs * Cheap Car Loans * Short-term and payday loans * Should I get a loan if I have a bad credit score? * Bridging…
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Loans - Important links - please read
Hi folks :) This is the new Loans Board Sticky where links to all current important threads will be kept. Links: This thread is for quick links to threads in this board. IMPORTANT - Problems with debts, payday loans etc? Payday Loan Survival Guide from Govan Law Centre Lending money to friends & family Cheap Credit Card…
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Roof Replacement: Wipe out savings, take out a loan or a bit of both?
We've recently found out we need a new roof on the house we bought two years ago (knew there was a catch for it being at least £20,000 cheaper than the other houses that have sold on the street!) We've had a few quotes and thankfully, the most reputable contractor came with the lowest price. The roof replacement will cost…
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Consolidation
Hi All I’ve got a good credit rating on the face of it, never missed a payment etc. have a few credit cards but only really have a balance on 1 which is around £3500 I had a long term loan with my bank which was annoyingly high interest so in the last year I took out 2 separate loans at a better rate to clear this and…
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PCP End Balloon Payment-Loan to Refinance
My son has a Mercedes C class now 7 years old. Buy out on PCP now is £10800. He has gone over the mileage over last 4 years so if he handed back would have to pay around £1500 for this which he can avoid if he buys the car. Working out best option I guess maybe a car loan over 48 months to clear the balloon payment at…
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Approved for finance but shop out of stock?
Hi all, I found an e-mountain bike I wanted at a well known bike store, on their website. I checked on the website and it said the bike was in stock. I then used their website to apply for finance. I passed the credit check and the finance was agreed. A week later I've received an email saying they're unable to find the…
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Loan advice
If you select other when applying for a loan is it always manually reviewed or can the application still be accepted fairly quickly? The use of loan is for home improvements but also for another use which isn't in the drop down menu so unsure on option selection Also are you better off applying via an intermediary or…
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Secured Loan
Hey! Trying to consolidate debts as we are drowning at the minute. The only options seem to be secured loans. It’s a minefield as to which broker/product to use. Any suggestions tried and tested? Secured seems to be last resort. HELP!!
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Car PCP Newbie - Early Settlement?
I've never used finance for a car purchase before, but the new car that I'm considering has a large deposit contribution on offer from the manufacturer (£4k), so I'm thinking of going down the PCP route, with the intention of making an early settlement in full at the earliest opportunity; searching around, some seem to…
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I am genuinely confused, why can't I get a loan?
I have a spotless credit record Clearscore/Experian rates me at 1000/1000 Credit Karma rate me at 659/710 I have a mortgage with £200 left to pay (the repayments are £22 per month) with an attached mortgage reserve facility which currently stands at -£15000 and which needs to be paid off at the same time that the mortgage…
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Unsure whether to consolidate - please advise
Hello everyone, First of all, I can't believe I still remembered my username and password. It's quite a while since I've logged into MSE! Anyway, here are the facts. I currently have three debts I am paying off 1) £5727.54 loan(started at £11k)with Zopa @ 4.8% - I pay £230pm 2) £7568.74 loan(started at £12k in 07/2014)with…
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Need a loan from somewhere but not sure which source
Problem: Hi, I am presently in situation where for various reasons I will need to borrow £3500 in the next 2 months to afford middle payment instalment for home improvement (unavoidable). I have paid first (nearly £6000) instalment on my usual (high apr) credit card and will pay that off using savings next month after…
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Loan or cash?
I’m considering buying a car, not necessarily brand new. it’s the first time I’ve had to do this on my own and my question is would it be better to take either the car finance offered, take out a personal loan, use a credit card or pay cash? I can afford to pay off a loan quickly if needed. Is it safer to have a type of…
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Which address?
My friend uses her parents’ address for all her banking but lives in private rented accommodation. When completing an application for a loan, should she use the address that she currently lives at or her parents where her credit is registered?
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65 & unable to get credit
I'm 65 years old & recently tried to purchase an Apple Iphone on their 0% finance scheme, but my application was refused (& has been subsequently refused after trying again through John Lewis, was told I don't meet their internal lending criteria, but no further explanation) I am married, retired, mortgage free, living on…
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Signed PCP agreement but not due to start for a few weeks. APR has now dropped, can I get new rate?
Hey all, As per the title, I signed a PCP deal last week for a used car that won't be available for a few weeks, so the loan isn't due to pay out/start for a little while yet. Meanwhile, the representative APR listed on their website dropped on Monday so I asked if my deal could be moved to that rate but the dealer seems…
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Clearpay
My son is being cared for under section 3 of the 1983 mental health act. He is in secure accommodation in [Removed by Forum Team]. His is suffering a major manic episode as a result of his bi-polar condition. He has no in-sight and cannot manage his financial affairs. Clear pay have recently allowed him to sign up for a…
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CCJ overpayment
I cant find anywhere appropriate to post this, so please advise. over 25 years ago, my wife got into some financial difficulties, and ended up with a ccj where she was paying £35/month. This was before I knew her, Over the years we attempted to understand how much was outstanding, but could never find out, Recently we…
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Beneficial interest as security for a loan
Hi. Please bare with me as I like to give a bit of background info. My Dad passed away in 2020. His Will was a mirror Will with Mum's and they were 50/50 Tenants in Common. There is also a Form A restriction on the deeds to their home. Mum is 100% legal owner and has a life time interest to live in the property until she…
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Second Charge Loan with Declaration of Trust
Hi all, hoping someone can help. My wife and I are in the middle of applying for a secured loan on our property to consolidate debt. It's very much last resort for us, but I have a poor credit score (from mistakes that I made years ago that I am struggling to work my way out of) and as a result we're applying for a loan to…
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Car finance - pcp question
hi all I’m new to this board. I’ve done a search but can’t find anything recent on this. My car is coming to end of pcp, I can’t afford the balloon payment that’s not an option. dealer has advised I have £4000 negative equity on the car. they suggest I can either build into a new finance package for new car this would give…
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Loan repayable on death?
Hi I am one of the executors of our father's estate- he died in December 2023. He had 4 children, 1 from a first marriage and 3 from a second marriage. His second wife (my mum) died in the 1990s. They owned a house as tenants in common. Mum left half the house to her 3 children, but dad bought this back a few years later…
