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Loans

Archives for May 2021

Bank loan
Been with bank for ever.excellent credit score.A1 category they said No job/income. On phone the guy ended application as knew I would be refused,ended the "recording" of call Advised to apply on line and "bend" the truth about job/income as online applications only check figures add up and not if your telling truth about…
Ex relatives trying to sue me for a gift
Hi, can anyone offer legal advise on small claims court please? My Ex in-laws are trying to take me to court over money they gave to my ex as a gift several years ago, they are now claiming it was a loan. This was never discussed and i have never asked them for money They claim the money was to help us buy a house but i…
Money Barn - Providing Car loan without checks
Afternoon everyone, I wanted some advice, I purchased a car loan via a dealership a few years ago and I believe they financed me without doing the proper checks. I had a car loan agreed with a company before I visited the car the car dealership to have a look at the car I wanted. Upton choosing the car I was taken into the…
Are There Loan Advisors?
Is there such a thing as a Loan Advisor, similar to a Mortgage Advisor? Without going into details, and without lying per se, answers for some questions for me could differ (I'm very recently seperated but still married and between properties that I have been associated with for some time) and I'd like to know the best…
Help for TFS Loan reclaim - they turned down
Hi all, I am after some advice on how to proceed, or if i can continue with my claim. I have only recently discovered (thanks to this wonderful website), that i can claim back my interest from my guarantor loans. I believe they didn't check affordability when i took out the loan way back. The loan provider was TFS Loans, i…
Student loans deferment
Hi, I have 4 old style loans from 94-97 which I have never repaid due to not meeting the threshold. This year the payslips I submitted did show I had gone over the threshold due to temporary enhanced rates of NHS pay during the pandemic. I was advised to submit my P60 which indicates I am under the threshold but they have…
Car finance debt collection
I defaulted a LOT of my car finance payments and i am now paying it off with a debt collection agency. The car keeps breaking down and I really need a new one. Can I trade in the car to a garage? Who technically owns it? Is it still the finance company even though they've sold their debt to a debt collection agency?
Taking out a loan for new home improvements - Timing query...
Hi all, I am in the process of buying a new home that needs extensive renovations. I've received quotes and decided that because a lot of things are pretty urgent my best bet is to take out a £20k loan to get the rood, windows, doors and electrics done asap. I have no other debt apart from my mortgage, my credit rating is…
Guarantor Loan - help cutting ties
To cut a long story short I was in an abusive relationship and ended up as a guarantor on a loan. The loan is now not being paid by my ex partner but trying to cut ties with it is proving almost impossible despite being manipulated into it. Can anybody offer any advice? I do have a crime reference number for one abusive…
£3000 loan for a 18 year old?
I'd like to take out a £3000 loan to buy a motorbike. My credit history is "Fair" and i have a stable monthly income of £1100 after tax at the moment. I am currently an apprentice. What do you recommend I do? Are there any places I can take a loan out and not pay insane % or is it a bad idea in general? Thanks in advance.
Loan for a mature student who can't get the Advanced Learner Loan
Are there any reasonable loan options for mature students wanting to study a course (not university) for which the Advanced Learner Loan isn't available?
Personal Loan vs Mortgage Overpayment Loan Back
Hi I want to borrow 15,000 over 30 months which currently will cost me 2.8-2.9% circa £560. I have also been over paying my mortgage to bring it to an early conclusion and have a very healthy surplus (6 years to run so I am well into paying the capital). My mortgage is a Life-time tracker at 2.3% (unfortunately there was a…
Do you pay tax on a repaid loan?
I gave a family member a personal interest free loan. They now wish to pay it back, is this liable for income tax?
Advice re settlement figure
Hi all I've got a loan with loans2go for £300. Taken out over the longest period as the plan had been to pay it within a few months. It has a high APR, no issue there. It was needed at the time and the plan to pay off would have worked but circumstances changed and here we are. I have requested a settlement figure and it…
Payday Loans
Hello, had some financial issues in early 2016 resulting in me taking out 3 payday loans. They were all paid off fully within 3 months. All 3 show on my credit report as you would expect. My question is how long they stay showing on my file as we intend to move house next summer and I’m concerned they may impact a mortgage…
Credit union loan
I’ve had 3 loans of credit union and each time I’ve asked for more they have game me two the same amount of £500 then my last one £1000 I’ve just paid it back and I have £1500 in my loan pledge they said my next loan will be a loyalty loan which means what ever is in my loan pledge I can get a loan x4 of the amount in my…
Borrowed in my partners name
Hi All, Before you start judging, I have some serious questions I need to bring up as me and my partner are both trying to clear our debts. For about 7 years I was unable to get my Bipolar diagnosis under control 2011 - 2018. We borrowed a lot of money (40+k) to just keep afloat as I was the sole earner but was sick a lot…
Can i pay my loan off with my credit card
I took out a loan with Halifax to buy a car. I have paid nearly half of the loan, £136.00 & now approximately £20 interest a month. I now have £4,000 left to pay over 2 years. I also have a 0% interest credit card with Halifax. My question is, is it possible to pay my loan off with my credit card? Pay my credit card…
Business loan mortgage 35k in overcharged interest rates
Hi can anyone give me advice I have a business loan mortgage I checked my outstanding balance was way to high ask natwest to investigate they come back the since 2012 they have had my interest rates to high they put it on my mortgage so that reduced and offered 1000pounds come which I have not accepted any advice please
Is John Lewis ending its financial services?
Hi, I got an email from John Lewis telling me that they were no longer taking on new loans or additional personal loans. Does anybody know if JL financial services are going to stop trading?

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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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