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Loans

Discuss all types of personal loan. Remember MSE's stance on loans: 'borrow as little as possible, repay as quickly as possible'.

🎓 Got a student loan question? Head to our Student MoneySaving board
For discussion of everything to do with student loans and student finance, please head to our Student MoneySaving board.
New to the Loans board? Start here
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…
Loans - Important links - please read
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…
Nissan Car Finance (RCI) sold when I didn’t need it.
When I retired in 2017 from my job that gave me a company car, I used part of my pension lump sum to buy a new one. I had decided what I wanted (Nissan Qashqai, new) so went to my local dealership. I wanted to pay the whole purchase price as I didn’t want to commit to monthly payments with my substantially reduced income.…
Legal action from debt collectors
Hello all, hope I could get advice with this debt collections. i am still waiting for the letter/ confirmation that the debt has been defaulted. Seems like this specific debt still hasn’t been defaulted. They have since sent me a letter with these lines and I’m feeling pressured now and somewhat threatened which I know is…
2 x 25k loans 6.1 and 9%
I got these two loans as i wanted to make sure i could buy a house without a mortgage. The house has come in the middle of my price range so i only need 30k loans. Should i pay the 9% loan back or 15-20k of it or just keep it going? I have no other debts so can afford both repayments currently.
Advice needed - family debt
Good afternoon Mse forummers I come seeking aid by way of taking out a loan to repay part of a debt to a family member, due to me having 3 children, living in rented accomodation and being single income (full time employef) my plate is full! Its manageable and I’ve budgeted for what is coming. I have roughly £2700 credit…
Complaining about historic loan - help
I've been trying to clean up the old credit file in the hope of making a mortgage application and could use a bit of advice on an old unsettled loan. I reside in Scotland and most of my file is in an OK place, except for one issue: The short of it I borrowed 2,200 from AvantCredit (AC) in Nov 2016 and struggled from the…
Coast finance / welcome
Hi This is the first post I have done . I thought someone else might of had the same issue? We got a secured loan in 2008 from welcome finance. Unfortunately in 2013 we lost our property due to the recession . We thought all debts went with our property. We have rebuilt and sorted are finances out now . Then in 2019 a…
Interest on early repayment of Funding Circle Busines Loan
About to take out a Funding Circle loan but reading contradictory advice from them about whether interest is actually reduced on a Business Loan if additional repayments are made early? Funding Circle FAQ (https://www.fundingcircle.com/uk/support/business-loans/ ) quotes: The second paragraph here suggests that paying…
2 loans advice
Hello, I have two personal loans 1. MBNA 10K four 4 years - I pay £219 per month. 2. M&S 20k for 4 years I pay £447 per month. I hear consolidation loans arent always the best option. But any recommendations in general here? I would like to reduce loan term and monthly amount if possible. However, priority would be loan…
HSBC - Loan Help
Evening all looking for some help on a hsbc loan i have just taken out here are the details Original Loan ammont - £8,000 for 60 months @ 15.9% ( i know its high) £188 per month Total payable if i run the loan for the full 60 months is £11,260 approx which means the interest is £3,400 approx ( which is silly and a lot) so…
HP
Morning, I was wondering if anyone knows the conduct HP providers have to adhere to. I’ve just taken a new HP finance with the same company my old car was with. The first quote they gave me while I was at the dealership was 12.9% APR which I flatly refused so I went off to shop around with a broker. I was surprised when he…
Do I owe this money?
A few years ago I was involved in a company. For some foolish reason the company needed to borrow some money. The lender wanted me as the borrower and I agreed. The money was sent direct to the company, not to me. I thought the company would be a success. Sadly my fellow director wasn't quite as honest. I resigned and left…
Mortgage broker issues
Hello. I’m after some advice please. My mortgage broker issued me with a KFI and I signed and agreed to the rate on this, for whatever reason they didn’t apply for the mortgage for 2 weeks so the rate went. They then send me a new KFI with a higher rate on which I did not sign or agree to, so I decided to go to another…
Debt Collection Agency Failed to provide copy of original loan agreement
Hello all, I wonder if anyone can help me. A number of years ago I got into a bity of financial difficulty which resulted in me taking out a number of loans etc. eventually I defaulted on most of these and some were passed onto a collection agency. I have been making regular payments to a company but a few months ago I…
AST Collapse - Student Loans
Hi All, In February 2025 My son took out a £20k Student loan from Lendwise Ltd., to fund a 2-yr training course with Air Service Training in Scotland. As AST's 'preferred funding partner', Lendwise paid the entire £20k directly to AST in advance of any education. 2-months later in April-25, AST entered Administration &…
Motonovo - PCP Agreement Arrears
Just looking for some advice or help with my current situation: I purchased a car from a garage and received finance through Motonovo Finance in 2021. After falling behind with payments, I’ve allowed it to spiral essentially out of control. The garage is now no longer in operation and ceased trading (not that I think that…
Overpaying nationwide loan
Does anyone know their policy ie do they reduce the term or reduce the monthly payment?
Good credit rating, no loan
I have an excellent credit rating, which I fiercely protect. 1000 out of 1000 on ClearScore, and slightly less on my bank website. I applied for a loan via ClearScore (12.5k over 36 months), and chose one of the lenders who were listed as ‘pre-approved’. Anyway, I put in the details (many were already filled in, as…
Motor Dealers forcing customers to use their own dealer finance
I own a small independent self funded Finance Company & we are increasingly seeing Motor Dealers refusing to issue an invoice to us as a 3rd party Finance Company, telling our customers that if they want finance they have to use the Dealers own services. In the latest instance (Mini UK) they refused to sell the car to my…
£32K in credit card debt and personal loan from 1 single bank - court judgment enforced overseas?
Reposting as submitted under less relevant board! Long story short - I have tried to pay off my debt for a while now (minimum amount) from abroad since last year after moving away for for personal reasons. I can no longer keep up due to medical bills and child care. What are the odds that the creditor with an international…
Aci my jar help
Good morning, I received the following letter from Aci regarding a debt originally from my jar loans. They sent me the following letter ACI Customer Reference#####Balance Outstanding Original CreditorMYJAR LtdOriginal Loan Reference(s), Dear ###### As you are aware, you have an outstanding balance of £2,140.26 which…

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MSE News

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.
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 Payments 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.
Which NatWest and RBS branches are closing from 2025? Here's the full list – and banking alternatives
NatWest and Royal Bank of Scotland (RBS), which are both part of the NatWest Group, will shut at least 108 of their bank branches in 2025 and beyond, after the Group announced a further 52 NatWest closures.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
Winter Fuel Payments will be reinstated to all pensioners in England and Wales this winter – but will be clawed back automatically from those earning over £35,000 a year, the Government has confirmed. It means nine million pensioners will get the £200 or £300 top-up. MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis.
Car finance mis-selling update: regulator prepares for compensation scheme – and warns against using claims firms
Payouts for mis-sold car finance could be another step closer as the financial regulator has set out the factors it will consider if it were to introduce an industry-wide redress scheme – though we won't know more about how this will work until after a key Supreme Court decision expected in July. In the meantime, the regulator has warned that you DON'T need to sign up with a claims firm to be included.
Winter Fuel Payments to be extended to pensioners earning £35,000 or less – here's what we know so far
Winter Fuel Payments will be extended to all pensioners with incomes of £35,000 or less this winter, the Government has confirmed. It means nine million pensioners will get the £200 or £300 top-up.
Winter Fuel Payments extension confirmed for this winter – watch Martin Lewis' instant response and his message to the Chancellor
Winter Fuel Payments will be extended to more pensioners this winter – though not to everyone – the Chancellor has today confirmed. However, exact details of who will now qualify still remain scant. Watch MoneySavingExpert.com founder Martin Lewis give his instant response, as well as his key message for Rachel Reeves.
Nationwide Fairer Share: Free £100 bonus confirmed for 2025 – here's who will get it
If you bank with Nationwide, you could get a free £100 paid into your account in June or July as part of the building society's 'Fairer Share' scheme. The bonus will be paid to millions of its current account customers who also have savings or a mortgage with it.
Forced onto a prepay energy meter? You may be due money back as 10,000s to be compensated
If you had an energy prepayment meter forcibly installed or your smart meter was remotely switched to prepay mode without your permission, you could be entitled to compensation of up to £1,000 and may even be eligible to have your energy debts written off.

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Loans

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