Loans

For discussion of everything to do with student loans and student finance, please head to our Student MoneySaving board.

Useful links within the forum * Credit File & Rating board * Debt-Free Wannabe board Useful links to MoneySavingExpert.com guides * Cheap Personal Loans * Loans Eligibility Calculator * Cut Existing Loan Costs * Cheap Car Loans * Short-term and payday loans * Should I get a loan if I have a bad credit score? * Bridging…

Hi folks :) This is the new Loans Board Sticky where links to all current important threads will be kept. Links: This thread is for quick links to threads in this board. IMPORTANT - Problems with debts, payday loans etc? Payday Loan Survival Guide from Govan Law Centre Lending money to friends & family Cheap Credit Card…

This is the place to discuss the new Lending Money to Family and Friends guide. We'd love to hear your thoughts, personal experiences, and general feedback. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.

Hi. My parents have agreed to lend me a large amount (£xx,xxx) which I will be paying back over the same amount of time as our mortgage. I will be paying them about £200 a month for a number of years. It is not a gift, but should they pass before the loan is repaid it will be written into their will that I will inherit the…

Hi everyone, I’m looking for advice about recovering money that I loaned to someone who is currently living in, or has recently been living in, the UK. I’m particularly worried that he may leave the UK and return to Nepal before repaying me. I’ll explain the situation as clearly and factually as I can. Background The…

planning to lend money, charging fixed moderate annual interest with no plan for repayment but a legal charge over borrower’s property. So, a whole of life loan equally split between a couple. I need provision for the death of either borrower and for my own death. If the debt were to be considered settled on my death,…

I've had a quote for a loan from Santander of £8,000, no arrangement fees, at 19.9% APR over 3 years, quote me total interest of £2,453 and therefore a total repayment of £10,453. I've plugged these same terms into about 10 different loan calculators who all come out with an expected interest of £2,688 so total repayment…

Hi guys, Really looking for some advice here. I've had a Jacamo credit account for about 10 years (maybe longer). I used to make my purchases and then clear whatever I owed each month. As I was doing this regularly Jacamo kept increasing my available credit limit. Like lots of people, I ran into hard times a coupe of years…

Hi, Sorry if this sounds like a silly question, but I'm having trouble understanding how Very use Buy Now Pay Later (12-month option) for purchases. Whenever I have used Very, I normally just pay back a certain amount each month and have a £12.00 charge if I fail a payment. When I click on Very's explanation of Buy Now Pay…

Today I checked my credit score/report and found it shows 2 credit cards I didn't know I had. Are these actually 'credit cards'? and if so, how it is fair/legal that they don't clearly say this when signing up? Are there any negative consequences for these being open? - The 2 'credit cards' showing are for (1) Clydesdale…

This week's MoneySaver who wants advice asks… When our mother died, my sister didn't want her share of the inheritance paid into her bank account as she was concerned she'd end up living off it, so I paid it into a savings account in my name, on the basis that she'd let me know when she needed the money for something. In…

Hi all my car finance is up for review. Been with them 3 years. They are asking for bank statements can I or should I refuse these? I am worried they wont accept.

I got a letter today from Barclay's about a Career Development loan that I took out in 2004. As far as I was concerned, this was all paid off when I was on a Debt Management Plan between the years of 2012 and 2018. I don't remember hearing anything about it since then. We bought a new house using a Barclay's mortgage back…

Hi. I've gone through the eligibility checker for a bank loan, I have had two different results come up for the same bank. It comes up as 95% chance with M&S Bank but then below it says a 0% chance with M&S Bank. How can this be the case, which is correct?? Help much appreciated asap before I apply and put a mark against…

So I have had a year of tight finances with events such as car problems and house issues. This has affected my ability to focus on the right way forward and I have made some mistakes. On 4 occasions, I took out a £1000 loan over 12 months. However I worked hard and paid off the loan before the first payment was due. My…

I have received a quote for some new replacement windows. Whilst it is a company that we have used for 20 odd years they were taken over a while ago and are now part of a larger group. They provide a 20 year guarantee. I know from previous experience that where any niggles have occurred in the 10 year guarantee that they…

Hi everyone, I'm looking into taking out a loan and wanted to get some advice before I make any decisions. I'm hoping to find a loan with a competitive interest rate, no hidden fees, and the flexibility to make overpayments or pay it off early without hefty penalties. I'd also appreciate hearing about any lenders you've…

My son has a Mercedes C class now 7 years old. Buy out on PCP now is £10800. He has gone over the mileage over last 4 years so if he handed back would have to pay around £1500 for this which he can avoid if he buys the car. Working out best option I guess maybe a car loan over 48 months to clear the balloon payment at…

If you select other when applying for a loan is it always manually reviewed or can the application still be accepted fairly quickly? The use of loan is for home improvements but also for another use which isn't in the drop down menu so unsure on option selection Also are you better off applying via an intermediary or…

Good Afternoon, I'm looking to take out a loan to purchase a new family car. It will be a used vehicle with a maximum spend of £9000 - over a 4 or 5 year period. I have £5000 saved already. The options/dilemma i have is do i take a: 1 - Loan for £4000 out at a higher rate percentage (around 9.5%) 2 - or take out a loan for…

Please no negative comments What loan companies are there to contact / try, in order to use a personal loan towards a property deposit? I know a lot have this as a restriction for obvious reasons but based on our circumstances it suits us and fully approved by mortgage lender too Please let me know which loan companies…

Help I took out an account with credit spring for £300 and im meant to pay it back and a £10 subscription fee. I paid it off early and asked for my account to be closed and they are refusing unless i pay more fee's £40 i believe. I wasnt told about any fee's to stop my subscription and I'm going round in circles with them…