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Loans

Archives for April 2018

Would IVA or DRO allow a new student loan
Hello, Struggling to get an answer to this question.One year in IVA and worse financial situation due to health problems.Considering DRO.To improve future job situation,would like to do an advanced learner course.In IVA contract states that no loan over £500 is allowed.Can anyone tell me whether a student loan would be…
Cancelling a Loan
I wonder if anyone has any advice. I recently took out a loan with Satsuma to pay a bill I had to clear. The loan was the last thing I wanted to get but I felt I had no other real options. I now have almost enough money to pay back the loan (I will have the full amount in the next couple of days) and I'm within the 14 day…
Nationwide...loan for car
Posting for DD Nationwide customer, early thirties, holding my only a/c there, working full time since 18 and wages paid in monthly, never been unemployed, no credit cards, only a debit card. Only DD is for a mobile phone, Netflix and a pcp car loan due to end (loan to make final payment) Applied for loan, advertised rate…
Some basic questions about car loan/finance
Hi everyone, Sorry for ridiculous questions but I've never taken out car finance before! In a few weeks I'll be looking to take out a loan of approx 9k (depending on car I find). Obviously personal loans are a better rate than finance from car dealers which leads to a few questions...! 1. Am I better off getting a personal…
Loan to pay University
I need to fund a MSc course - I seem to be ineligible for everything and cannot get any advice from anywhere. I'm looking at taking a personal loan. Any advice would be much appreciated.
Forced to get a loan
Hi, I'm not sure if this is standard practice or not. When me and my partner graduated from university in 2008 we both had student overdrafts with different banks. My bank let me keep the overdraft and pay it off over time, although they did change some terms after a year as I was no longer a student. My partners bank…
Car finance trap
Hello everyone. My entire life I never had any loans or debts and I always paid my phones on time. Few days ago I decided to take a very expensive car on finance with motonova. Now that I realised how terrible of a mistake it was is there a way for me to get out of the agreement? I want to return the car and be free of the…
Claiming back once pay day loans
Hi all, To give a little background. I’m 28 and I over the past 4-5 years I became addicted to gambling, over the years I’ve gambled myself into about 30k worth of debt. On a sightly more positive note, after help and other means of recovery, I am gamble free for 6 months and slowly (but surely) paying my way back into a…
Loan guarantor -Forged signature
A relative living under the same address has taken a loan out unbeknown to me and forged my signature as a guarantor.I have now received a letter from the loan company stating the following : "You have received this letter as we believe at 12:00 Monday 25th December you electronically signed through our website, agreeing…
Car finance return?
I’m 2 years into a 5 year deal on a Peugeot 208 only bought for a new baby but we have quickly our friends the car. What can we do to get out of the finance deal early so we can finance a larger car. Paying off the remainder isn’t viable. Cheers. :beer:
Are Pensions and Disability Benefits Income?
I have a Student Loan (Plan 2) and want to know if my income qualifies for Student Loan Repayments. It is made up of Occupational Pensions, DLA and Carers Allowance (Which I get for looking after my wife). I have no income from work as I have no job nor do I have any unearned income form renting property, shares, interest…
Funding to do a MSc - CDL / bank loans
I used to be a regular on here a few years back but got busy and didn't need money advice any longer :( I lost all my post history but managed to secure the same name. I am in the process of looking for funding to do a MSc, ideally this would be in the EU, but I cannot find funding. The erasmus masters plus which would…
Loan monthly repayments changed after pre-contract accepted
Hi I recently took out a short term small loan and was quoted 1 monthly instalment amount of £206.73 and a final instalment amount of £120.04 I was emailed the Pre-Contract Credit Agreement showing these figures, which states "The loan you are considering is for £300. You will repay this amount by paying 1 instalments of…
Oap grandad somehow got a hire purchase car
Hi Could I get some help please?. My wife’s grandad is an OAP, his 75-80 years old, is not working, has memory issues, is on a lot of medication, can barely drive but somehow Toyota sold him a finance car, well he though it was on Finance but it turns out it’s a hire purchase car. As he has memory issues all he remembers…
Car finance settlement
I got my car on finance a year ago, I have recently requested a settlement figure and phoned to pay that amount. I had been away for a week and expected to come back to some king of letter stating that the debt was paid and the car is mine, but there was no letter. I emailed the car finance company and asked for this…
loans from either buy to let or right to buy mortgages
Hi i'm really hitting a brick wall here and i'm hoping somebody can help or at least point me in the right direction, Me and my partner are looking to be debt free we require are 25k so we thought that a secured loan or money gained through a re-mortgage would be the answer how wrong we were!! Can anbody tell me how we can…
Double application
My husband and I had discussed both getting a home improvement loan, we've both just applied (we're not in the same vicinity as each other right now) mine approved, my husbands is pending approval. We've just spoken on the phone and it was actually the same lender that came up with the best rates for both of us so we've…
Sole trader offering finance?
My son is a sole trader doing bespoke welding and fabrication - mainly for drift cars and rally cars - roll-cages and exhausts etc. He has been asked again and again by customers if they can pay a deposit and then pay for the work in installments. Problem: is this a credit agreement regulated by the consumer credit act? We…
Asda loan
Just in the throes of applying for a loan, going to fill out the application with Asda, but before I do could someone please clarify the following On their page telling you why their loan is better than Tesco or Sainsbury's there is a tick in the box "make early repayments " does this mean any random amounts of additional…
Nationwide Loan - 23.9% APR
I applied for a £12,000 loan with Nationwide in 2012. It was a ridiculously high 23.9% APR loan on a 7-year term. I needed it for a debt consolidation loan and at the time still had a decent credit score. I was advised by the person at the branch that signed me up that I could always reapply for a lower APR loan with 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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