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Declined for Barclays Loan based on Current Account Activity
I applied for a Barclay Loan for a car (£9000 over 48 months = £215 per month repayments) and was surprised when I was turned down based on affordability. I called to check and query this, as I felt I met their eligibility and affordability criteria. * my income is over £55,000 (joint income is £100,000) * I am full-time…
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Loan v remortgage v trading in an asset to fund a new business start up
I need abit of advice. I have the opportunity to set up a new business that would make great use it my land while also bringing in a healthy return. I need advice on the best option to get funds to start this business. I don’t have savings but I do have another house I currently rent out. I also have £200k equity in my…
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Looking for finance company Sun Securities Poole Dorset
Hi, can anyone help please? I am trying to find Sun Securities, a finance company operating in the Bournemouth/Poole area around 10 or more years ago. They are not on Companies House web site that anyone can find. I am trying to buy a probate property but it seems there is a charge against it. I have been told that Sun…
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Offered Higher APR for Loan - How does this affect another application with different lender?
HI I have applied for a loan having carefully looked at the credit club affordability etc. had 95% chance of being accepted. Applied for loan but instead of the 6.5% advertised rate, they have accepted application but offered 10.9% APR. I was aware this could happen, but like most people, hope it doesn't and the only way…
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Loan in my name.
I was in a common law partnership with my girlfriend. We lived together in her house for around 5 years. I was not on the mortgage. As she had bad credit score we agreed I would take out a loan in my name to install new windows and doors. We subsequently split and I have been paying ever since. The agreement is in my name…
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Buying out siblings
Trying again in another thread.
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Do debt collection agencies go to court?
I'm wondering what the criteria are for debt agencies who buy "bad loan" books to bother getting a judgement. When I moved into my house 6 years ago I got loads of letters for a former resident. Literally hundreds. Despite sending back and in some cases calling, they still get sent today. The council tax bill resulted in a…
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Can a Natwest loan be on a repayment plan to avoid a default?
I've an ongoing issue with Natwest that started in 2021 regarding a loan I took out to cover a tax bill. I was laid off a job and needed the money for priority bills as I did not have enough savings. So I took out a loan to pay the tax bill. However, getting back into work proved difficult. I work as a freelancer but did…
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Default
Hello, I have a default on my credit file from Cabot financial. It's from a old Likely Loans account. It was my top up loan from May 2018 I missed my first payment on Oct 2018 and I didn't pay for 6 months so it defaulted (long story). Cabot Financial took over the account and it went into default on April 2019. On my…
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Borrowing against house as LPA
Hi, Not sure this is the right section to post in so please advise if not. Bit of a complex situation. Dad owns house and I have LPA as he had a severe stroke which has left him housebound, as the house is up steps which he can’t access. I’ve looked at various options but all costly and impractical with stair lift option.…
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Front Loaded Novuna personal Finance
June 2021 I borrowed £36000 with 1year deferred payment, I have since paid £556.34/month for 22 months (12000) The settlement April 2024 was £35,920.31 How can this be legal? means I only paid £80.00 of the original loan in 22 months Novuna Personal Finance Agreement number (Removed by Forum Team)
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Loan Quote Check
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…
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Ending Car PCP early due to faults with car
Hi, this post is sort of a half looking for advice, half to
vent so sorry it’s a bit long. Done a bit of lurking and think I know what the established
options are but maybe someone has similar experience and can share? I brought a 1 year old Hyundai Kona hybrid back in Sep 2021
on a PCP agreement. At the start of 2023 the…
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Applying for two smaller personal loans instead of one bigger one: good idea?
Hi I wish to take out a large loan (£18000) to consolidate many credit card debts. There are multiple loans available to me (via credit report sites like TotallyMoney/ClearScore) with rates much lower than my credit card rates. When I search for loans at half that amount, there are several more offers from lenders. In most…
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Unsecured loans: what issues should MSE be raising with the industry?
Hi all Here at MSE we sometimes have the opportunity to talk to industry bodies, and one of our colleagues will be talking to representatives of lenders very soon. We've already scoured the forum to spot recurring issues that would be worth highlighting, but if you've had a recent experience of dealing with a lender with…
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Will new lender see car finance paid off?
I was in a car accident a few weeks back and my car was deemed a write off. The insurance company are paying off the remaining finance. I am on the hunt for a replacement car and with this I am looking to take out a new finance deal (the savings I have are for my wedding). On credit files I know it will take a while to…
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Withdraw from PCP within 14 days
I'm just about to order a new car but want to take account of the manufacturer PCP incentive. If I want to withdraw from the finance within 14 days when does the 14 days start? I'm signing the finance agreement now but the car doesn't arrive for 20 weeks (factory order). Does it start when I sign or when I get the money…
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Early repayment of loan due to death
My mother in law has recently passed away. I'm currently organising probate and calculating assets and debts. My mother in law had a loan which she was about 3 years through a 5 year repayment period. The value of the loan is £6,600 now, will that be the settlement figure or will the bank add on the interest that would…
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Have you had success reclaiming from a mis-sold payday loan?
In 2018 MSE published the guide: Reclaim payday & other short-term bad credit loans: Get £100s or £1,000s back for mis-selling without using a claims firm Have you managed to make a successful claim against a payday loan company? I'd like to hear your stories.
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How to put all deb on one ?
Hello, for several days I have been looking for a solution to combine all my debits into one. I have been paying off 2 credit cards + 2 loans for 6 months and have had no delays. I have previously repaid 2 loans on time without any debt, I have never had a late penalty and I cannot find loan debit consolidation anywhere.…
