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Loans

Archives for February 2015

Early repayment taken without me asking for it to be!
Hi, Just looking for a bit of advice really - I got a payday loan last week with my repayment date set for the 20/03 however I got more money in my payslip than anticipated (:j) so I emailed them yesterday to ask them how I go about making an early repayment as there is no where on their website to say how to do it. Fast…
Shawbrook Bank Loan - Repayment issues
Hi All, We recently took out a loan (by way of credit agreement for a new bathroom) with Shawbrook. The plan was always to pay off the loan almost immediately, but figured by using a credit agreement via the bathroom company, we'd have "protection" if things went wrong. Anyway, the opening balance was £5918, and the first…
Financing a car as a present. Owner/Keeper
Hi all, For ages now, my OH has had utter bangers whilst I've had nice, fairly new cars. As a 30th birthday present, I am going to be financing a brand new car for my OH, however I'm a little confuddled as to the legalities of it all. Has anyone seen any cases where finance companies have allowed HP/PCP/Financed vehicles…
Help asap!
I had a wageday advance payday loan which I defaulted on. I set up a payment plan and they took the first payment of 39.13 which was fine. My mum stepped in and then paid the full balance off over the phone she then asked for them to close my account which he did and confirmed. I later logged on to my bank to see another…
List of lenders that offer 'eligibility checker' tools?
MSE has a very useful 'smart search' / 'eligibility checker' tool for personal loans and credit cards. Unfortunately, though, not all lenders have signed up to this. Therefore you might be eligible for credit cards / loans from one or more other lenders that MSE cannot show. I know Barclays, Zopa, Ratesetter and…
What can I do? Cant get a loan big enough...
Hi I live in a 3 bedroom semi in an area that I love. My wife and I would like another bedroom before we have anymore kids and because we have looked for months and cant find another, bigger house that ticks all the boxes its time to extend! We have had quotes and have picked a build that would cost us £40k for another…
Masters vs DMP: The Reckoning
Hello Everyone, I have been accepted for a Masters (part-time) but I need to make the first payment of £3700 before August to complete my acceptance. I was expecting a significant sum of money to come my way this month but that has fallen through and now I am at a loss for how to pay for it. Because I am on a DMP and I…
Am I a tenant ?
Good Morning All My partner and I have lived together for 10 years. The house is in her name (ie the mortgage) but ALL bills are divided 50/50. I am thinking of applying for a loan. Am I a tenant or a homeowner ? On the MSE loan eligibility calculator it ask homeowner / tenant / living with parents ?!! Surely there is the…
Loan Guidance
Hello! I am in a bit of quandary at the moment with regards to loans. I currently have a loan at 5.0% that has 49 months remaining of a 62 month period. I have been offered a loan at 3.8% that would be for 60 months. The pay-off loan value is £11,900, the new loans limited to £10,700 by my bank at the 3.8% rate (weirdly).…
Cutting the Cost of a Loan using Credit Card
Hi everyone, Has anyone had any experience in cutting the cost of a loan by transferring it to a credit card? I recently applied for a Sainsbury loan, thinking I would consolidate all my credit cards and loan (settlement figure approx £11,000 currently), but was rejected. However my Barclarycard has now increased my credit…
Unfair interest rate!
Hi - my son is 22 and is looking for a £6500 loan for a car. He banks with Santander, has a credit card with them and has had a previous Santander car loan which he paid off early. He also took out a Tesco 0% credit card, last December, to spread the cost of car insurance, which is now paid off. He has never paid any…
Right of withdrawal from PCP car finance
Hello, i have just bought a used VW on PCP finance. I took the PCP primarily to get a £500 deposit contribution and three years servicing (I would have preferred paying outright). If I withdraw from the finance within the first 14 days will I still receive the 3 years servicing and can the dealer claim the £500 deposit?…
co operative loans and deep dark days
Hi all, i just wanted to know your opinion on this, i by no means expect anything and i know how the system works and the whole point is pretty much to screw us over for money anyway, 3 years ago during the lowest point of my life a drug and alcohol fueled haze, i somehow managed to apply for 3 seperate co-operative loans…
Wonga, Peachy, Sunny - Credit Rating query
Hi Guys, Apologies if this has been posted before but I could not find anything on it when searching. I have been using Wonga, Peachy and Sunny loans recently - over a period of the last six months. It was a time of desperation for me and I felt I had no alternative at the time. However, my credit rating seems to have…
two loans
Hi Loan A) Amount Outstanding £3700 Number Of Repayments 25 Monthly payment of £180 Loan B) Amount Outstanding £10700 Number Of Repayments 51 Monthly payment of £210 I can pay monthly £500, what should I do? Pay one of it more quick? Get a new loan and pay Loan A and B?
Loan rate difference
Hello, As I am with them I have just been to the Nationwide who advertise a 3.6% rate for existing customers for loans £7500 - 1499. After a few question I was quoted: 8.9% for £8000 over 5 years 9.9% for 10000 over 5 years I was a bit shocked as I thought I would be at least around 5% or even 3.6% as I have no mortgage,…
Does cancelling hire purchase agreement affect credit rating?
Hello, forum newbie here. I've looked around this site and others for an answer but couldn't find anything definitive. My hire purchase agreement on my car has a 'right to cancel' disclosure that mentions that, providing that there is less than X amount remaining, I can cancel and return the goods. All sounds fine, but…
Wonga
After getting a loan does Wonga send correspondence to your home address or do they just communicate via email and text??
Loan which doesn't exist?
Hi All, My boyfriend received a letter from a debt collection company saying that he owes over £3000 to Sygma Bank since 2013. He registered on Experian and long story short - his mother (bad credit loan lover) took out this loan adding my boyfriend as a joint applicant without letting him know (probably faking his…
Loan price
Hello, IDEM brought out my loan from Picture Financial. Does anyone know is there a requirement or a way to find out how much IDEM paid for the loan? thank you

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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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Loans

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