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Loans

Archives for September 2020

Paying off HTB loan
Hi all, I'm just wondering if somebody can give me a rough idea of how long the process takes to have a house surveyed and arranged to pay off with the government? I'm nearing the end of a 5 year fixed mortgage and will be paying the HTB loan off before I renew and before I pay any interest on the loan. I'll be speaking to…
Best option for new car.
Two years ago I took out £7600loan from Tesco for a car. Today I still have £3400 to pay back. I was considering selling the car for around £5000 leaving me with £1600 to put towards a new car with a budget of £12000 I was wondering what was the best course of action. Extend my loan with Tesco, finance the car or get…
Moved: CONSILIDATING CREDIT CARD DEBTS
This discussion has been moved.
247 Moneybox Redress
Hi Guys Had a loan with this crowd 4 years back, defaulted on it. They sent me an email a few days ago telling me to log into see my redress claim. Cant remember doing one, Logged into the below messege. What does it mean?? Do I owe them £300 now instead of the £800 or is that loan being wiped?? It mentions on the FAQ all…
Bridging loan for lease extension - yes/no?
I'm extending my lease (it's 79 years) and intended to pay the £16,500 premium when the flat sold. Due to lockdown it hasn't. The four-month limit on the agreement is up, so I need to raise the money (freeholder won't extend the time). My bank won't loan for a lease extension. Halifax won't remortgage as it's a short-term…
Amigo
I’m wondering if some one can help? I have filed a complaint through my amgigo claims company who stated they would get me compensation on interest on a current loan I have with amigo, I have been informed amigo have upheld this and have offered an amount but only to be deducted off my remaining balance? I was led to…
Guarantor Loan Query
Posting on behalf of someone else short story is friend signed up to be a guarantor on a lon with a company for her ex. She believes she was manipulated into this there is a history of domestic violence in the relationship as well as a active case following events earlier in the month my question is can she be removed as…
Bbl loan
I was a limited company and have been out of work since March due to covid, I took out a bbl loan to tide me over. But the company is now going to be dissolved, and I'll be going paye. Where do I stand with this loan can I transfer it over to my current account and pay it back this way?
Return of a mattress
I purchaced a nectar mattress on interest free finance and found the mattress was no good for my bad back so i emailed them and after sending them pictures of the mattress they agreed via email to arrange collection of the mattress as per their free return policy.that was 3 weeks ago and my next direct debit payment is due…
what documents do u need for a loan
I can pay the loan but not sure my proof of income is accepted? or a few credit cards would do, credit is fine but dont have proof.
Cancel loan - 'Contact us within 14 calendar days of 15 September' - Cooling off period query
Hi all I'm considering cancelling my loan as it may not be needed. I'm confused by this wording 'Cancel loan within 14 calendar days of 15 September' within my loan confirmation letter. Does this mean I contact them by/on the 28th (inc 15th within 14 days) OR by/ on the 29th (exc 15th within 14 days)? I did call them but…
PCP - Trying to get out off & Remortgaging
Stupidly bought a new motorbike on PCP earlier this year - I used to use one to commute but my office has now shut and most journeys I make require a car (for food shopping etc.). Currently in the process of re-mortgaging and asked our broker about drawing £10k in cash to get rid of my overdraft and to buy a car, however,…
Had a loan rejection for non-credit reference reasons - should I apply with other lenders?
I applied for a loan with Tesco Bank that the MSE eligibility checker said I had 90% chance of getting, but alas I was rejected. I knew I had an excellent credit score and plenty of surplus income to repay the loan, so this was a bit of a shock. I rang them up and they said it was due to their internal criteria, not due to…
Consolidating using a secured loan
Hi everyone! I am after some advice (obviously) I own a home with is currently worth around £210k with an outstanding mortgage of £165k. There is no one else on the mortgage. My partner and I were looking to sell and move home, adding him onto the mortgage so we could upgrade, but unfortunately he has been made redundant.…
PCP to bank loan.
Hi guys, New on here so be easy on me.. I have a PCP car on 6,000 miles, 13 months in and due to circumstances and a new job I've estimated I will be doing in excess of 20,000 miles per annum. Now... in my head... the excess mileage and the fuel costs will be too much for me on my PCP car so ive decided to get a diesel on…
Honours student loan debt preventing SLC student loan...
Hi. I started a course at university in the late 90's and received £1,600 towards living expenses. I hadIhad tohto leave the course after a couple of months due to family circumstances. I want to start education now, but have been advised SLC will not pay my fees for my access course, an Adult Learner Loan, or give me a…
Credit union loans
Hi, I'm just wondering if £50 per month in interest is too much on a loan of £1700? I'm terrible with money, but thought credit unions had lower interest rates. Thanks Amanda.
Development loan - bridging loan - equity release mortage? Any other options?
Hi, I'm buying a flat to live in for £430k. It's a cash purchase. I have about £20k left over in cash. I want to buy a second flat for £420k, to refurbish and sell. I'm self employed but my company is only 2 years old and has really low profits, so I don't have an income yet. Does anyone know any good brokers for equity…
Secured and Unsecured Loan Pricing
I looked at some loan offers on Clearscore, a credit rating platform. Unsecured loans of 25,000 for 3 years were considerably cheaper (about 3%) than secured (8%) which seems counter-intuitive. Can someone explain, please?
Finance for training company in liquids
Hi Because I couldn’t afford to pay up front for a training course I signed up to a finance company and I pay the finance company a monthly amount. However the training company went into liquidation before I received any form of training. I cancelled the Direct Debit to the finance company but they are asking for payment -…

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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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