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Buying a new car - pay in full from savings or 50% loan?
My wife and I are considering buying a car for £8000. We have £18,000 in savings and we generally save £500 per month. My view is pay in full from savings since it's less than 50% of our total savings and we'll save the money back in 16 months. My wife, however, thinks it's a better idea to take a £4000 loan out to keep…
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Zopa loans concerns
Good afternoon. I took out a 15% loan with Zopa and on approval they added 25% to my loan amount and after first payment of approx £350 the loan has gone up by £600. I'm extremely worried about this and now out of hours to contact them. Does anyone have any experience with Zopa loans please? Thank you
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Borrowing for Home Improvements
Hi, Not sure if this should be in loans or mortgages as it's a bit of both. Looking to borrow to complete some home improvements. Some of which will improve the energy efficiency of my house (about £7k). Looking to borrow up to £15k total, but what is the best way to do this? I've had my mortgage with Nationwide for a…
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Self-employed and cannot get car loan. How can I finance a new car?
I'm self-employed and make a fair income £26k/year. My car is falling to bits and I've long passed the point where a replacement car would be cheaper to maintain. I'm not looking to spend much – no more than £4k. I found the perfect car for £3.5k. New clutch, belt, recently serviced, perfect history. The problem is, I…
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loan
Have a loan AA for
5000 pounds plus interest of 486.04 total 5486.04 still owe 2895.41 Asked for settlement figure 2780.35 so rebate of 115.06 interest
dose not seam a lot they said there was a delay of 58 days interest I can also make a payment to reduce the team time, but does
not say if they is the 58 days delay should…
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Length of loan if paying off quickly ?
Hi all, Barclays have been regularly emailing me, advising how much i could borrow - at a decent rate ( 6.1 % ) Have had a current account and mortgage with them long term. I am considering applying, as a short term loan would be useful at this time. Does it make any difference to potential settlement figure ( would pay…
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Car finance - can someone help me work these values out?
Hi - My brother recently bought a new car. I asked him what his deal looks like so I can use it as a benchmark for myself when looking at car finance. I didn't get as far as looking for myself, as I couldn't work out how much he was actually paying. I reckon there are some details missing in the below figures to work this…
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Settlement Figure
Hi I wonder if anyone can help with this settlement figure...we think it is wrong but Volvo keep saying it is correct. Other dealerships we have spoken think it's wrong too! We bought a Volvo on finance for £38,995. We put a £7000 deposit down so the amount of credit was £31,995. Interest was £12,604.58 Total balance…
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Interest rate
A few months ago I was looking for a loan. A good rate of 8.9. Now it's around 16. I believe this is due to the election as my credit rate has improved if anything. Has anyone experienced this and when would it likely fall.
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Car finance-what’s a good interest rate
Hello, I have been offered 10.9% APR for car finance. Is this a good offer please? Don’t think I’ll get a loan until Feb onwards due to credit file. Thanks
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Paying extra to a loan
Hi. So my partner has a mortgage, every 2 weeks I pay an extra £35 to it. Monthly mortgage payments never change as a result of doing so, but we know it will benefit us when the fixed rate period ends and looking to remortgage. I have a loan which I pay £400+ to per month. I started trying to pay with an extra £50 one…
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Personal loan query
Hi all I want to take out a personal loan to pay off my car but I also want to cover a some of a credit card balance. Because the loan covers multiple items, is there anything I need to consider? When looking at rates I can only select one reason. Would I need to let the lender know that it covers multiple items?
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Eligibility for loan
I have an excellent credit score, and my affordability should be fine as I can get enough credit cards. I also have CC that are 0 balance but a couple I have small amounts on, so I'm using them but paying them off the same month, I've also just paid off a nationwide loan. My credit report in the credit club says my…
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Is a loan possible for me?
Hello, I was hoping to get some advice/information on whether I can actually get a loan. I have used loan calculators which offer a couple of bad options and I’m not sure which of my details are hurting me but have some ideas. I recently completed a reskill course for a technical profession and have managed to land a…
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Secured loan instead of re mortgaging for home improvements due too lower credit score
Hi, We are so desperate for home improvements and after 10 long years feel enough is enough! I have managed to complete my IVA 18 months early but know it will still affect my credit score for just over another year, plus we have a fantastic fixed rate with our mortgage provider for another 2.5 years at a delicious 1.9% so…
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Overpay secured loan or husband’s secret credit card debt first?
Hi all, Looking for some financial advice about which debt to tackle as a priority… Backstory: husband and I have our mortgage (about £180k remaining). Two years ago we took on a secured loan to consolidate credit card debt we both had. We took on a loan for £47k at a much better rate than the credit cards. The last 2…
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Interest Free Credit hack
If you are offered interest free credit from companies such as DFS, but you don't need or want to spread it out over a number of years, still take it, over as long a period as they offer.After a couple of months, ask for a settlement figure and it will be less than the outstanding balance.This is because the company (DFS…
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Irresponsible Lending - Bank Statement
I have an irresponsible lending claim which the financial ombudsman has agreed to investigate. In order for them to do so they are requesting bank statements from 2006 to 2008. They are also requesting a copy of my credit report from the same period. Can the bank (HSBC- who I’m no longer with) refuse to provide due to the…
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Change direct debit date.
Hi. So on the 30th of may, I applied for a loan. I was accepted and received the funds on the 3rd of June. The loan company has an online site which I registered on with the intension of changing the direct debit date to the 2nd of each month. It said I need to wait for the direct debit to be setup before I can change it.…
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LOANS I DIDN'T TAKE OUT
My friend is paying back 2x £5000 loans that were taken out not by him the day they went into his bank account. They were taken straight out the bank investigated and the account and they went to has been closed. He didn’t realise until they started taking the repayments back. For them to be able to take the money out as…
