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Loans

Archives for April 2017

Pre-Approval?
I've been saving for a good few months to buy a new car, however for half of the sum of money the car is going to cost I'll be needing to take out a unsecured personal loan. After just checking the TSB 2.8% apr loans, my personalised quote said I would get the advertised rate (not sure how this is possible, I'm not a…
Student loan queries
Hi, I am hoping to change career very soon (due to a change in working hours) and may need to take a student loan out to help myself, and my family, survive for a year without my income. I have a place on a distance learning MSc (one year course) but there is no bursary. I am 45 now so quite old to be even thinking of…
What's the likelihood of me getting £15k loan in the next 6 months?
I have a surgery scheduled for November this year and i'm thinking about getting a loan for around £15k (over 4-5 years) to pay for it. I'm currently 22 and have lived with my parent at the same address for the past 6 years. Current salary is £16k. Current credit cards: Aqua since August 2015: Balance £0 (Credit Limit…
Nationwide deferred drawdown of funds
Hi all, Looking to apply for a loan shortly for a car purchase. I've already gone through the pre-application determination that doesn't check your credit file and Nationwide will lend. (Existing customer). Their customer services team appear to be closed this bank holiday weekend, but I wondered if it is possible to get a…
Castle Direct Finance
WARNING TO OTHERS DON'T TOUCH THIS COMPANY! I recently registered with them to search for a loan. They have just taken £79 from my debit card even though I did not get a loan. I was under the impression that they took the fee only if I got a loan. I am reporting them to the Financial Ombudsman. DON'T UNDER ANY…
Voluntary Termination of PCP - BMW Mini Finance
Dear Money Saving Experters, this topic appears to be have been covered many times, although through searching I still don't believe I have found the answer I am looking for. I have a car on PCP with Mini. The details are as follows: Contract term: 48 months Contract start date: 8th August 2015 48 payments of £162.37 Final…
Claiming PPI from company no longer trading
My husband and I took a loan with freedom finance in the early 2000s wevthought it was over 5 years but after 5 years we were told that it was for 25 years the loan and the 60 months was 5 years cover with their PPI which was nearly 1500 . A few years after taking out the Loan it then became ge money who we were paying.…
Car pcp
Sorry I wasn't sure where to put this but it's a kinda loan. So I took a car out on finance in January 2016. Paying £257 per month and 6000 mileage annual cap. At the time I was driving 8 miles a day. I changed jobs 9 months ago and am now driving 70 miles a day. I've got a spreadsheet that shows me my projected end…
Desperately need a small loan
Hi all I am in a real mess and looking for some advice / support. Recently I lost my job, so have been unemployed for two months, my finances are not good, my credit rating is really bad (I know ratings are subjective). As it stand I am behind with some bills including my rent and have run out of money I know borrowing…
Likely Loans - Been trying to get my loan agreement.
Hello all! First post and it may go on a bit. My question is where do I stand here after such a simple request. They have pretty much ignored me so far. In my opinion, I've given them more than enough time and I think I should act on my threat. Below is my communications with them summed up in a final email. I've removed…
Voluntary Termination of Car Finance
I am going to be voluntary terminating the finance on my current car as it's becoming too costly to repair all the time. It's a 7 year old car and I have paid more than 50% of the total agreement value. My question is, when I purchased the car there was a scuff on the front bumper and some scratches and small dents down…
Yet another question on student loan payment
Hello, My son is to commence Uni (to do medicine) in Sept 2017. We are from Wales. Student fees is set at £9250.00/year Student finance Gov.Uk site suggests that for student entering this Autumn from England and Wales the student loan company (SLC) pay the institution directly and the amount borrowed will incur Retail…
What happens at end of Yorkshire Bank loan repayment
I have had a loan with Yorkshire bank for the past couple of years. My monthly payments are £210 and I have £441 outstanding. The loan was taken out in May 2013 for four years. I was wondering if I will pay it off with a larger final payment in June this year or if I will pay in May, June and then a small payment in July?…
Best advice for business loan?
Hi there looking at a retail business for sale at the moment quick overview of the business and related details these are not the actual figures but will help me to decipher where to go next I need to raise £220000 to get through the door the business is doing well with net profit of over 100K in last 3 years if i had 40k…
Can't get a loan, credit score of 742?
Hi All, until recently (Today) my credit score was 481 as there was an error on it that has just been removed. I would like to re-finance my debt, and consolidate a car loan, credit card and overdraft into one loan of 11 or 12k if I can, however it seems that a credit score of 742 isn't strong enough? Could it be that as…
Student grant overpayment - not my fault, please help
Hi, looking for advice please. In 2009 I was made redundant, I decided to retrain and so applied for a course. At the time my partner was on maternity leave And we had a mortgage and a newborn baby. My tutor advised me to apply for a Student loan so I did. I applied for £5000 as a loan. They wrote to me substituting part…
Halifax Problems
I have around £9K of debt with the Halifax. Comprising of credit card and loan. At the time of taking out the credits money was not a problem. Now, I am on sickness benefits, and cannot even make minimum payment. I have provided the bank a detailed income and expenditure sheet. I have also provided medical evidence that I…
Can we lend our son money?
Dear forum, Can anyone advise me please, we wish to loan our son £45k can we do this without paying tax? What would be the best way to do it? Thank you
Differing Results from MSE Loan Eligibility Calculator
I'm looking to take out a loan for £12,000 and have been very careful over the last 6 months to ensure that I have the best chance of being accepted at a good rate. My query is in regards to the MSE loan eligibility calculator. When I do the quick version it comes up with 0% chance of acceptance for all loans, yet if…
Barclays Partner Finance Advice please.
Hi, we have a loan with Barclays Partner Finance for a static caravan. We have, for personal reasons, decided to sell the caravan, but we can't until we clear the finance. Unfortunately the value of the van is a lot less than the outstanding loan amount. A friend of mine has said that I should ask them for a settlement…

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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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