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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'.

Loan or Liquidating Investments
I'm considering a sizeable purchase and trying to get my head around whether I should liquidate ISA investments or take out a personal loan. Does anyone know of a calculator where I can play around with % investment returns and interest rates to calculate which is the most beneficial option.
Bounce Back Loans
Bounce back loans were introduced during Covid and have now expired. The husband of a client of mine took out a BBL of £50,000 in 2020/21. He died in 2022. His wife did not know about the loan. There is still £48k outstanding. Is she able to request it be written off as the debtor has since died?
Securing Loans To Purchase An Existing Business
Hey guys, I'm trying to secure funding to purchase an existing cafe with no capital or assets behind me. I'm looking for a substantial figure of around £75k, I'm not sure where to start as I would need a loan that doesn't need any kind of guarantor. Can someone help or give me any advice that would point me in the right…
Unofficial loan advice
Not my situation thankfully, but points raised in a pub conversation about a friend-of-a-friend and we were debating the topic as non-experts. Interested to hear any feedback from those that may be more experienced either as lenders / professionals or having been lender or borrower in a similar spot. For the record (to my…
Finio/Oakbrook Loans making it difficult to change Direct Debit details
Now firstly I accept that I could well be missing the point here. I'm autistic and I find it hard to deal with something I assume should be simple and is then suddenly made complicated. I have a small loan with Finio that I took out in April and the payments have been made from my current account on time ever since with no…
Which personal loan providers allow flexible payments
I want to take out an unsecured loan for £20k over 5 years. Some months I’d like to make over payments. Some months I might not have enough for the regular payment. Which mainstream lenders supports this please? I don’t want an underpayment to result in missed payment / admin fee, hurt my credit rating etc. Thanks all!
Car finance
Can you get personal finance for a private sellers car? Unable to get a loan for credit rating reasons but desperately need a bigger car for health reasons. Does anyone know any good firms who will offer finance personally for a car?
Received a refund letter from Elderbridge
Has anyone else received a letter from Elderbridge saying they are due a refund of X thousand pounds on a debt they made good years ago?? The letter states we need to send proof of ID documents and bank account details, which to me sounds really dubious??!! Is this letter legitimate? Any help would be gratefully received.
Personal Loan
Hi, I have recently been declined for a personal loan from nationwide. I appealed it and still got rejected. The reason apparently being that I missed a couple of direct debit payments for a savings account I have set up. Other than that my credit score is good, not in any debt , above average salary I’m looking to borrow…
Personal loan and finance agreement
Is there a way I can save on the amount I’m repaying for these two separate debts, for example taking out one new loan to repay them early? Personal loan (5.8%) 42 payments of £182 left to pay = £7644 payable. Settlement amount = £6643 Finance agreement (5.19%) 53 payments remaining @ £82 = £4364 payable. Settlement amount…
Unknown loan
My friend is in a mess. Her husband took out a business loan and made himself directors guarantor. He is now in the process of dissolving the company and so has to make the repayments himself, which he or my friend cannot do. They are considering re-mortgaging to pay off this debt. I don't feel this is fair, as my friend…
Student Loan solution or not
£30k Student Loan - I plan to clear my son's Loan from my ISA. He will repay me @ £150 for 15 years. I will add £150 extra to my pension @ 40% tax relief. He avoids 6% APR on his loan. I lose approx 6% increase iny ISA growth but get 5 years of tax relief @ 40% then 10 years tax free income from him = £150 /month. I sleep…
Amigo loans compensation scheme
hi could anyone please help me out on this... I'm completely confused. Many thanks
County court claim after irresponsible lending claim
Type your Looking for some advise on a loan agreement after the loan was upheld for irresponsible lending by original creditor then the remaining balance sold to a debt purchaser who is persuing the debt through the courts. would the credit agreement be void or nullified under the consumer credit act as the debt it relates…
Shawbrook loan
I took a loan out with Shawbrook in October 2016, and just wondered if there was extra charges, a bit like the car finance, I cannot log in on line with Shawbrook to check the account due to getting the loan in 2016, I can only call get a settlement figure not much more.
Secured debt consolidation into mortgage?
Hoping for insight. i have my mortgage with Halifax. Due to remortgage soon. Will Halifax allow me to move my secured debt consolidation loan into the mortgage?
Credit card or Phone contract best option for me
I need to get a loan around £10,000 at my bank in September - October. Need it really bad so I am kind of desperate for some detailed advice. Despite that I've been with the same bank for over 10 years, my credit score states 'excellent' on Experian and I've been with the same employer full time for 4 months (and will be 6…
BLS Legal telephone number
I am trying to contact BLS Legal by phone. They are the collection division of Lloyds Bank. There is a charge on our property from when I defaulted on my overdraft 15 years ago. I have found the CCJ reference number and want to speak to them about it. Ironic really. all the times I wanted them to ignore me, now the shoe is…
Suggestions on how to best proceed
My situation in summary is: * I have a mortgage of about £6,000 left to pay off on my house * I have been out of work since the pandemic (over retirement age now and cannot find employment) * My pension pot (accessed through draw-down) is about to run out in the next two months, and I have no other savings * My house…
PCP Advice
Currently nearly one year into a PCP. Have often done this route but in need of some guidance If were to renew or change manufacturer, current equity due to rebate is around £5K. For renewing there is a further £4K deposit - making PCM payments a bit more than current but okay Switching manufacturers, similar PCM payments…

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MSE News

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.
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.

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Loans

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