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Unsecured Borrowing Lending Criteria
Hi guys, I am curious to understand a bit more about banks and their lending criteria. I understand that debt to income % amounts are very important but I suspect there maybe a total borrowing to yearly income ratio with banks? in theory I should be able to lend a substantial amount of money based on the traditional debt…
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Loan Anxiety
Hello My car died on me on Thursday, and is a write off. I have found a really good second hand car, and agreed a deal with the seller, so went home and I applied for a £4,000 loan with Tesco Bank. I did a search on one of the comparison websites and it said 95% likelihood being approved by Tesco, so was expecting it to be…
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Will a loan affect my remortgage
Hi All Bought a new car recently with savings 18k, now I would like to get a loan for this to put the money back into my account. But debating to do so or not. reason being I have 10 months left on my current mortgage deal, and don’t want to affect anything. Do you think this would be a problem or is it looked at on…
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Loan to pay off second charge?
Evening, so our situation is this. A few years ago we needed a loan fast and due to my husbands circumstances we ended up taking out a second charge secured loan on our house. The interest rate was far from ideal but acceptable. Fast forward a few years and our situation is vastly better and I want to get rid of the second…
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Cleared Car Finance But Need Another Loan
Hi I've have just sold my car and cleared the outstanding finance in full. I have been lucky enough to have made a profit on the sale so have a bit of money left over. However I will still need to apply for another small loan to purchase my next car. How long will I need to wait to apply for another loan so that the lender…
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Car finance. How to transfer into my business name?
Can any one help or offer advice. I took out a car finance in my personal name a couple years ago. Since covid my business partner and I decided to cut costs, so decided to sell our business vehicle and use our personal cars for buisness use. My business pays the finance payment for my car as it’s mostly used for business.…
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Self Build Mortgage Difficulty
Hi - we are coming up against so many brick walls for a self build mortgage and are living on the land we bought 6 years ago in our tourer caravan which, as we are both in our 60’s, is challenging. We are needing advice for any assistance in sourcing a loan for £180,000 until the build is complete (end of next year if we…
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Finance Repayment Obligation
During the purchase of a new bathroom I took out interest free credit with monthly repayments over 2years (Barclays Partner Finance). Direct debits should have commenced from January of this year but I’ve just discovered (10months later) they’re not coming out. I believe I enquired about this in January and was assured…
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How do I get the best possible personal loan interest rate?
Hello all, I'm looking for advice please on how I can secure a £15K loan over 5 years for a special purchase and get the lowest possible interest rate. I've gone through the MSE loan eligibility checker and read advice on the forums which seems to vary, but would like the best advice to reduce the interest rate I'm offered…
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Loan + Interest?
I got a loan out over 10 years ago where I had some sort of account with the money in (maybe they put it in my current account, I can't remember), but the interest was already calculated, so I simply had to make the minimum payment per month (or could pay any amount over). Is that how loans are still done?
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Loan newbie - fixed rates - need help to understand taking out a loan
Unfortunately, I am in the bad situation of needing a loan due to unforeseen circumstances. I always said I would never get a loan, now I need to because spiralling costs are going to possibly eat up my savings and more. My relatives are worried about rising interest rates. But can I take out a loan that is definitely…
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Write off Student Loans
I have a student loan which was taken out in 93, 94, 95, 96. I have always deferred. On this website it says it should be written off this year. I can't find that information anywhere else. Will the SLC tell me it has been written off or do I have to apply?
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Home Improvement Borrowing
I'm posting here after reading around the other areas of the MSE forum and it's made me think that what I want to do is a bad idea. Basically I need to do some improvements to the house, one of the jobs is urgent and must be done now. The rest could wait a little while but will need to be done pretty soon before it ends up…
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Loan not taking payments
So I took a small loan out in July for a car purchase. I've just checked my credit file and it doesn't look like any payments have been made. Checked my bank statements and they haven't taken any payments. Obviously the right thing to do is contact them and alert them but my question is will they expect me to make the…
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Car PCP Agreement - Payment On Weekend
Good Afternoon, I have recently taken out a PCP agreement to pay for a new car. My first payment was due today, Saturday 9th October. When logging onto my internet banking to check if this payment has gone, the money has not been taken. I have then logged onto my finance providers website account and it it showing that I…
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Help finding a loan for a friend
This is a bt of an odd request, but I thought that if it is possible, someone here would be the ones to know of something. I have a friend who lives in EU and wants to get a loan. I would have thought it would be simple as he has a good credit rating both in UK and EU, and (in EU) has around 200k equity in the property.…
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Charge against my home to secure a loan
Back in 2006 I took a business loan out that was secured against my property. Over the years I paid off the loan on time etc, no missed payments everything done bang on time. In March this year the loan was paid off, the account closed and we were told the charge against our property would be removed, it takes 7 to 10…
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Second Charge Loan with Declaration of Trust
Hi all, hoping someone can help. My wife and I are in the middle of applying for a secured loan on our property to consolidate debt. It's very much last resort for us, but I have a poor credit score (from mistakes that I made years ago that I am struggling to work my way out of) and as a result we're applying for a loan to…
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Bridging Loan Advice (or another solution!)
Hello Hive Mind My partner and I are buying a mixed use property (75% res 25% comm) for £940k. Can't get access to £348k of the full amount we need until 12 Jan 2022 (£263k in a 120 day notice account, £85k in a 90 day notice account available on 13 Dec 2021 and the bank won't budge on earlier release). We have promised…
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VW car finance partial payments
Does anyone know how partial payments work for VW car finance PCP plans? I've saved a bit of cash to pay off a percentage of my outstanding car finance balance, but getting through to the customer services department on the phone is a pain, and there's no instructions/guide online on how the process works. Their email…
