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Loans

Archives for November 2018

Refused car finance PCP
Hi, I’m thinking of buying a £40,000 car on PCP. The dealer I’m with had a car to my exact specification. I had a £11,000 deposit to put towards the car. However to my surprise I have been refused PCP car finance! I decided to repropose with a deposit of 20,000 including the value of the trade in of my current car and that…
Loan for jobseekers
Hello I have Asperger and I am claiming Job seekers and I am on DLA at middle rate. I am looking to claim about £3000. I never had a job so thats the biggest issue. Need the cash as its for becoming a British citizen and its to pay for fees Hope i make sense.
Can I get a Debt Consolidation loan to pay off an existing Guarantor Loan
Hi Everyone I stupidly applied and succeeded in getting a £10K guarantor loan with Amigo to buy a van. I believed I was getting a loan with fixed interest and that it would be paid off after 5 years. I pay £395 a month and it’s not touching the loan and I’ve had it for 2.5 years. Is it possible to get a debt consolidation…
Needing advice about a loan
Morning everyone. Pretty stressed right now. I decided to post here as I've noticed this is a very understanding, supportive forum for people with debt issues and I really don't need judgement right now. In August of 2017, I took out a £9,800 loan with Amigo. I needed to fund my final year of a university course due to…
Post Office loan approved in principle
Applied for a loan and got the approved in principle a few days ago and then in the post got contract to sign which have uploaded along with some documents confirming ID/address. One bit of communication says basically just final checks but then another says will let me know within five days if successful so sounds more…
Quick question
Hello, if a loan application of £12500 is rejected with no negative factors on my credit report, I work full time with a reasonable salary and have a mortgage, is it worth applying elsewhere and if so how soon is too soon? I applied only today however thinking ahead just in case. Thank you
Claiming missold payday loans whilst in IVA
Hi all. A bit of background. I got myself in about £13000 worth of debt from payday loans. I fell into the trap and couldn’t get out. As soon as I got paid all my wages were going to paying off loans and it got to the point where I had to pay off loans and lend from them again to pay off other ones and to live. This…
Advice on HP of a Car after redundancy
Hello, So I was made redundant in September, I have been looking for a job etc, and paying my car payments each month. I am able to pay another two months for sure, but after that, I would have to hope that I land a job. Currently, I have owned the car for 6 months. It was bought from a dealer at a total cost of £10,115.44…
Debt management question.
Hello, I'm in that vicious payday loans cycle and I'm wondering if I did choose to go down the debt management path will all debt be included? For example can I keep certain payments out of it and pay them normally? Just include payday loans? Thanks.
Natwest loan refund!
Hi Got a letter though the post today. Got a refund of £233.91 due to under the consumer credit act 1974, were required to send our customers regular loan statements. We must also send a notice of sum in arreras if customers fall behide on their loan payments. There are strict rules we must follow on the timing and content…
Loan question
Hello, I've got a mortgage, the interest on this is 4.24%. Got another 9 years on it. Just seen a loan (from another bank) where (its seems) I can get a loan for just under my mortgage balance, and the interest is 3.0% fixed for the loan life (7 years). Would you take a deal like this, or would you just pay extra every…
Should my loan have been CCA regulated?
Hi All Any assistance with this would be very gratefully received. I purchased a commercial property from a husband and wife. He loaned me part of the money (interest bearing) to buy it from him. Sounds like a funny way to do it but that's what he wanted. A few months later my business failed-I was a sole trader. He told…
PayPal Credit questions
I want to buy a new TV on PayPal credit as apparently I get 4 months to pay off the balance without any interested added. Has someone used PayPal credit who can answer a few questions? Do you have to set up a direct debit or can you head to a page and pay there? I ask because I'd like to pay PayPal with my credit card £600…
Consolidation
Hi all, this is my first post and looking for constructive advice please? My past finance management hasn’t been spectacular but have since learnt a lot (still more to go). Long story short, my credit score has been low for the past 6 years due to bad decisions back then. I’ve now managed to recover my credit score to…
Blue motor finance- final settlement
Hi All Pls could i get advice. i took a car loan for 7000 pounds. paid for 5 months and requested for settlement figure. quote was 6921 pounds which i have paid 4 days back. i have got a letter by email saying final amount is settled. but checking my online account it says current balance 54 pounds. i have emailed blue…
The Money Shop
Hi, I took an initial loan from the money shop in April 2016 for £400 and paid this off, I could just afford to pay this off and it was used to pay off other loans. Then In May 2016 i was offered a loan of £1800 with total repayment of £3600, which appears on my credit report showing 29 months of payments up to date, I…
Advice/help needed on high interest secured loan
I would like to know if there is anything I can do about a high interest loan I took out 12 years ago. I received a call regarding a loan from then Bright House, the loan was with Welcome Finance but has since been taken over by Prime Credit. I believed at the time the loan was over 5 years. It transpires that the loan is…
Offer from student loan company
Hi all, I’m looking for some advice on the following. Erudio, the student loan company have recently written to me with the following offer: if I pay off half my student loan, they will write off the other half. I’ve never paid any back, as I was always able to defer. I took out some small loans between 1996 and 1999. I’ve…
HSBC Approved Loan and then declined?
Advice would be appreciated please! I applied for a £12,000 loan with HSBC on Thursday and it came back as ‘Decision Reffered’. I called HSBC on Friday who said I had been approved but needed to take salary verification into branch. I managed to get a same day appointment and took 12 months of payslips to the branch. When…
ethical loans
The estate I live on is, small (31houses/flats) privately owned and run by a residents association set up as a non profit making limited company. We need to re-render the exteriors of the 4 blocks of flats and to do this need to borrow around £160,000 over 10 years or more. The estate's annual income is around £40,000 from…

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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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