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Loans

Archives for October 2020

Loan companies clamping down?
I need to apply for a personal loan for some home renovations. I have a default that drops off on Friday (an old telecommunications dispute that didn't go my way). My score on Experian is 946 even with the default but I'm not taking any chances so I'm waiting until the default is no longer on my report to apply. My Equifax…
PCP and Personal Loan
What are your thoughts on paying the settlement figure of PCP using a personal loan? We intend to keep the car. However we obviously can't predict the future in terms of finances. Unsure of whether to risk a personal loan. Not sure of complete risks should it come to point of not affording it for example down the line? Any…
I did not get accepted for a loan
I tried to apply with safety net and after asking the reason, telling them of my monthly income, my address, how much long lived there, my bank account details. I did not get accepted saying I do not meet their criteria. It could be they checked my weekly earning and they asked for permission from my bank and minutes later…
Loan for TV - TV Recalled; Where do I stand?
Hi all, In 2018 I bought an LG television from Curriys PC World for c£3k. Finance was over 36 months and all LG televisions have a standard manufacturers warranty of 5 years therefore no extended warranty was purchased at the time. Fast forward to August 2020 - the TV goes on fire and I phone up LG. They take the TV away…
Loan company in to liquidation
Hi there, I’m unsure what to do I have a loan taken out with a company which is now going in to liquidation, I’ve been told that if I don’t pay the balance by the 6th of November (less than 2wks notice) it will have a negative impact on my credit report and the account will be closed as being unpaid, is this true in what…
Getting a short term, payday loan
I need a bit of cash and I need a loan from those payday loan companies. I looked at one website which I came across the option 'why do I need a loan for' And it gave me options for 'special occasion', 'debt consolidation', 'one time purchase', 'purchases', 'holiday', 'bill payment'. My credit score is getting better and I…
Bank filing incorrect loan payment history to credit reference agency - following payment holiday
My wife an I have a loan with NatWest and took a three month reduced payment period during lockdown as our income became less certain (both self employed). In August it reverted back to the full loan payment amount. NatWest gave the option to extend the term of the loan accordingly by a couple of months rather than run…
Personal Loan Post-Mortgage
Hello, I currently have a mortgage offer and am awaiting exchange/completion on my new property. I have the funds ready for my deposit and once I have completed, my plan was to take out a personal loan to do the renovations I have planned. I have been strongly advised not to request any borrowing until I have completed so…
Please help - Loan anguish
Hi forum, I was hoping some of you who have a better understanding of loans may be able to chime in. I’ve had two Sainsbury’s loans running consecutively for a few years now. Last week I decided to consolidate both and given that I’ve always been really happy with Sainsbury’s, I would normally have approached them to…
Short term loan abroad
Hi My partner is in a bit of a fix at the moment. He's a military service man and needs a small short term loan. However he is currently abroad and retiring but he needs access to a loan before he hits the UK. His UK bank won't help as they want him to see them personally which he obviously can't and he's getting…
Car Finance Mileage Charge
I am currently in dispute with FCA car finance company. Having given back my car once the credit agreement expired, over 1 year ago now. The car was inspected and the company stated the car would more than likely to be sold at auction, not returned to car showroom standard. The company have since been in contact to ask me…
Gymophobics 12 month contract doesn’t exist?
Has anyone else had this problem. I signed a 12 month contract with Gymophobics last year which should have run out September this year. The gym closed in March due to lockdown and Gymophobics stopped taking my direct debit . After 2 months of closure with no sight of reopening and Gymophobics still not taking this I…
Car Finance from 4 years ago
Hi I could do with some advice please. I have received an email from a car finance company where I returned the car over 4 years ago. I believe the email is genuine as I’ve checked it out and they are claiming there is money due. This is very distressing as I had a breakdown due to money problems around this time and this…
QuickQuid reclaim site
Is https://claims.casheuronetuk.co.uk a scam site? Has anyone used them? I went to, but the details they were asking felt more like a fishing scam for my bank details.
Student loans question
Hello All So I understand from this website I may be able to claim student loans which have been paid back.....here is the situation Last year I had not agreed on a deferment on 1 of my loans....my stupid fault I know! This debt went onto a debt collector who served me with a CCJ which I then paid on a credit card. Now my…
Will it affect my future mortgage?
So I recently found out my partner was in debt and was in behind on a few payments it turns out he can’t get a mortgage for 6 year now due to this. We are looking at splitting up where I hope to get my own mortgage (our current mortgage is in joint name). Because of his loans credit cards etc effecting his future mortgage…
Moved: Equity Release
This discussion has been moved.
Sainsbury’s bank cannot provide a settlement figure
Hi everyone, I’m new to the forum and so this is my first post! Thanks in advance for anyone who can advise! I have a loan with Sainsbury’s and I recently had a payment holiday. I have now called them to ask for a settlement figure but they’ve explained they can’t provide one as they don’t know how to calculate the figure…
Payday loans - pay back after one week?
Hi all. I need £600 until Friday and my only option is a payday loan. I am well aware of the risks of these. Most payday loan companies offer loans for 3 months, however I would be paying back in less than 1 week. All of the companies I'm looking at state that early repayment is an option however I'd like an indication of…
PCP: Can two people be named on PCP Contract?
my partner and I are considering PCP for a new car. We haven’t yet spoken to dealerships as it’s early stages. I can’t find anything online or in forums about whether two people can be named on the PCP contract - I.e. if it’s a shared car, can we both be responsible and named in the agreement, or would just one of us take…

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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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