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Loans

Archives for April 2020

Personal Loan vs Remortgage
Hello Apologies in advance if I am in the wrong category but I wondered if you were to take a personal loan vs a remortgage and expect to pay it back within the same period of time, would you simply go with the one with the lowest interest rate (putting aside unsecured personal loan vs secured property loan considerations)…
Loan on credit file
Hello, My sister recently took out a loan with George Banco, it has been 2 months and still hasn't showed up on her credit file, her question is what CRA's do George Banco loans report to? She has been hoping it will start helping rebuild her credit. Any answers are muchly appreciated.
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Financial Ombudsman Service, VT Issue & Credit Rating
Hello, I have searched this forum but haven't found an answer specific to what's happening with me at the moment. I have had an ongoing dispute with BMW Financial Services, who have been trying to get £908 out of me, and I've gone down all the correct routes to resolve this. I've disputed it directly with them since I…
Personal Guarantee loan
Hi all, bit of a mix of issues so if this is the wrong forum please move!Long story short we took a 300k£ business loan out many years ago and i signed a PG's.No issues there as i didn't have a house back then and the business was going from strength to strength.Now COVID has hit it has decimated our business and our…
Zopa Loans Eligibility Criteria
Hi , I have had a 30 month loan with Zopa which is paid of in full in June. I subscribe to the Zopa app and which has a borrowing power feature. This always comes out at 10 /10. However it then tells me that I am not eligible for any loan. I questioned this with them and they said it was because I made an application for a…
Advice needed: Extend mortgage or get personal loan to fulfill will?
Hi, don't know if someone can get right to the crux of this with solid advice. Good news: Less than 40k left on mortgage. Bad news: Need 30-35k to fulfill / execute (?!) a will's terms this year. Should I extend the repayment mortgage I have or take out a well-chosen loan over a fixed term? I'm less than 50 years of age…
Wonga has paid me EVEN MORE!!!
Hello, I got £11.60 payment (4.3p/£1) in January out of the £270 claim value. Over the last couple of months, I just accepted it was over. Fast forward to today - I looked at my Monzo app and see £77 is due to come in tomorrow from Wonga!! Is anyone else in this situation? I have no idea what this is for and have not…
CBIL
I meet the criteria for a business interruption loan but Nat West have told me that because I only have a foundation business account I cannot apply. Nat West have declined my application to have my business account upgraded. Coronavirus business interruption loans for small businesses are now 100% guaranteed by the…
Early Repayment Charge. Help!
Hi everyone, this is my first contribution to a MSE forum as I'm in need of some advice I can't quite find online... Long story short a year and a half ago I was in a terrible situation financially and took out a loan from Hitachi (£7,500) over 5 years at a rate of 36.9% Apr. Ive paid every £251 a month without fail for…
Sainsburys Loan Requiring Nectar Card?
I am looking at getting a loan for £24k part to buy a new car and part to pay for some house improvements. To repay over 5 years. I am a home owner with about 100k left on my property which is worth about £325k. I don't have any other debt. My income is 65k - my wife is currently off work - just 2 kids. Looking at MSE it…
Car Finance Scam?
Hi All, My car has been for sale for a while - we are in negative equity on the finance of around £6k but I've left the advert running on the off chance someone wants to pay what I owe on it. A guy has rang up saying his brother works in Audi and they are able to buy the vehicle and use internal discounts to buy the…
Does loan pre closure affect my credit score?
Hi All, I am holding a personal loan and i have 11 more terms pending. I want to pre close the loan but just wondering what impact will that have on my credit score? I have gone through few articles on this subject and most of the articles talk about having a long term repayment history which will improve the credit…
Who are merligen investments
I've just checked my credit score and I have a loan on there which apparently is in default from merligen investments. The only info it gives me is it's a loan and that it was opened on the 16th of march 2018 and that it was updated on the 19th of October 2019. It's only for £59. I dont have a clue what this is? It has no…
Claiming back from Amigo Loans
Hi I'm wondering if anyone can help me. I've recently seen Martin post about claiming back from Amigo Loans and instead of using a 3rd party company, I've decided to use Martin's free template online. I've sent this off to amigo Loans and had the response of they want to see my bank statements to investigate there claims…
Irresponsible Lending From Satsuma??
Hi all, This is my first post on here but I’m looking for some advice. Back in August of last year, whilst I was unemployed I borrowed £680 from Satsuma Loans. (Before anyone comments, yes I understand applying for a loan whilst I was unemployed was an incredibly irresponsible decision on my own part, I was a homeowner and…
elderbridge.... i need help
I took a loan out with Barclays in 2006 for 45k over a 17 year period so it finished at the same time as my mortgage. in 2016 my loan was ' moved' to Elderbridge. I assumed this was part of Barclays, received letter from elder bridge stating that i did not need to do anything at all and my payments would remain the same.…
Car Hire Purchase Early settlement Query
Hi there, I have a car on one of the 4 year PCP deals which i am just over 2 years into. I want to buy the car and have received a settlement figure of £12,500 but i've been told by a few people that i can try and haggle on the cost so i was just wondering 1) is that true and 2) If so, what's the best approach? I would…
what does it mean to have a charge against a company
Hi I run an accountancy/bookkeeping company from home and one of my clients would like to use my address as his company registered address. This would normally be acceptable however his company has two charges against it from Interbay Funding Limited so I am wondered if I change the registered address to my home address if…
Overpayment on personal loan
Hello guys looking for some advice I took out a personal loan of 5200 over 4 and a half years with an interest rate of 7.9 percent, this works out to about 114 pounds a month that I pay. Bascially I'm planning to move out come september 1st but until then I have extra money that I could put towards this. I was going to…

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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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