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Loans

Archives for December 2014

irresponsible lending - Mental health
Hi, Bit of advice pls, my wife suffers from bipolar depression, during a particularly bad episode before she was diagnosed properly she walked into Halifax and got a 4.5K loan, 3 months later she went into Halifax again, got a 5.5K loan, during the time she was earning approx 10K a year, we were only banking with Halifax,…
Employer Loans
Does this incorrect wording apply to all loans? To cut a long story short a friend borrowed from her ex-employer £8500 for a car over 4 years and has never had a statement from them except for the first year - it's a large local authority, would they be bound by the same clauses as the banks?
Everyday Loans
Hi All, New to the site, and not sure if I'm in the right place! Also, I hope it makes sense! A little while ago I found myself in need of a loan, my credit rating is poor, and found myself with Everyday loans as the only option. (Car died and needed a replacement as my job is 26 miles away, on not on a bus route, and with…
Unexpected PCP Car Finance Refund
I purchased a new car on a 3 year PCP deal in 2011 through Porsche Financial Services (PFS) and returned the car at the end of the agreement early 2014. Yesterday I got a letter in the post from PFS apologising that they had not informed me during the monthly statements that I had a right to cancel the agreement at any…
secured loan
Hi all thinking about taking out secured loan to clear debt,does anyone know best lender. Also any advice appreciated. Slim
MSE News: First Direct starts refunding customers over paperwork blunder
"Some customers of First Direct have received a post-Christmas surprise worth thousands, following a paperwork blunder ..." Read the full story: First Direct starts refunding customers over paperwork blunder Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works,…
Car Finance in someone else's name
Hi I was wondering if someone could help me. Around a year ago I was offered a new job, as it was far away I needed a car. Stupidly I let a family members partner get me the finance for a new car. I have never missed a payment and have been paying double each month to get the car paid of quickly. They have since broke up…
Girlfriend is taking out and paying a loan for her brothers wedding?
My girlfriend is taking out a loan of around £5-6k to pay for her brother’s wedding. I am serious with my girlfriend (been together for 2 and a half years) and plan to marry couple years down the line when we are more financially secure. A bit on our current situation: We have bought a 1 bed flat in shared ownership around…
A dilemma what should I do
I was a sole trader for 14 years then decided to make it a LTD Co. After 2 years we had to stop trading as family illness and could not survive any longer. I had a loan with the sole trader account and am now looking into the PPI as didn't know they were being paid on the account. When we became a LTD Co. the loan was…
Need help
Hello all, I am from Maharashtra, India. I am guarantor to one of my friend for land buying & develop loan. He had taken loan & now he is not repaying it from long time. Bank want us to repay his loan from my salary. Can anybody tell me how to get out from this situation. Please guide me..It's urgent... Thanks in advance...
Can't get advertised rates
Sorry if this is a noob question.. I'm seeing rates of 3.9% on the soft search for 15k personal loan, but when doing a proper application I'm only being offered 6.9%. I have 8k on two cards, about 12k in a current account, and earn about 100k a year. loan is to pay off credit cards and pay for a kitchen (which will also…
Charged £67.88 by Search Loans Ltd never heard of them!
Has anyone heard of 'SEARCH LOANS' or 'searchloans.co.uk'? I noticed my bank account was about £70 short and when I checked a payment of £67.88 had been taken by someone called SEARCH LOANS (apparently a broker). I have never heard of these people and have certainly not applied for a loan through them and definitely not…
MSE News: Peer-to-Peer lending to move into the mainstream in 2015
"Christine Farnish, chair of the Peer-to-Peer Finance Association, explains why 2015 will see P2P lending go mainstream..." Read the full story: Peer-to-Peer lending to move into the mainstream in 2015 Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read…
Can I use a personal loan to buy a house
Can I use a personal loan to buy a house i have been accepted for the loan already I borrowed 10k it was so posed to be for a car but I am buying a house I am a cash buyer all I needed is 6k from my loan money I am thinking the bank might stop payment
Laptop on finance
Hi everyone I posted a thread a while back about getting a mac book pro on finance and working out the costs etc i just don't think itll be sensible to do so. At the time i had a laptop that was working fine. However im coming up to uni exams and the laptop that was working fine has just broken! I just don't have the cash…
Advice- Refinancing
Hi, So over the years I was rather lapse with money. helping others and getting into a mess so much so I had more going out than coming in.. I decided in the March of 2013 to be totally strict and only paid out the essentials. Come July 2014 I had 3 payments of overdraft, credit card and a catalogue account with total…
Loan Agreement Templates- loan between family members
Evening All, Apologies if this has been asked before but can anyone recommend website for templates for loan agreements? One relevant to Scots law would be helpful. Thanks :beer:
Bank Transfer to another account that uses Payday loans.
Hi, My cousin has asked me to do a BT to his bank account to pay off a bill that is due out on Monday. I think he uses payday loans but I am not 100% sure. If I do a BT to his account could a potential payday loan company get into my bank account and take payments? Am I just being paranoid?
Interest Rates on Loans
Hi All, In a bit of a mess at the moment, moneywise. I have around 20k of debt, mainly on Credit Cards and Store Cards. At the moment I am servicing all of the debt, making sure I don't miss payments etc. I earn about 45K a year, and no CCJs. My plan, is to get a loan to pay the majority of this off at a lower interest…
Stopping Student Loan Payments
My wife started with a new employer (a local council) in 2012. When she filled in all her details of employment, etc she was asked if she had a student loan on the form, she ticked the “yes” box. Thought nothing more of it. She has a student loan from 1998 so the repayment threashold is quite high – you have to earn £2K a…

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MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

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