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Car hire purchase
I currently have a bank loan. If I take out a hire purchase on a car can I add my existing loan to the car hire purchase hence paying off the loan with the bank?
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Car finance for 3rd party
Hello Is it legal or possible to:Person A wants to buy a car but has poor credit score so cannot.Person B agrees to sign the agrrement in person B name and ownership of car (V5 registered to personB) and make the payments (money coming via person A to B account first) to finance company. The driver is only person A Is this…
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Evidence for self employed loan
Hi there, Does anyone know which loan companies will accept bank statements only for evidence for self employed income? I can hardly find any information on this. I've got 100% pre-approval from a few companies and an excellent score but my income has improved sharply since my last tax return so I can only prove my salary…
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Car Finance Loan
My son in law has recently passed his driving test and immediately bought a car through a finance company at an APR of 34.9% over 5 years resulting in repayments of £15k for an £8k car. I was unaware of this but the agreement has now passed its cooling off period. To compound matters he is facing insurance quotes of over…
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Loan - Welcome Finance
Hi look for some information /advice I took a secured load out in 2007 with Welcome Finance. I believe this load has been paid in full , I am not paying anything currently and no one is requesting payments for this load. Appreciate this is from 2007 and Welcome Finance is no longer , however I cannot find a letter stating…
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Loan to get rid of credit card debt?
I have recently been considering the option of taking out a loan of roughly £12k in order to pay off credit cards, but I am confused as to which would have the more negative impact on my credit score. I regularly make the payments on the credit cards but with my mortgage deal ending next year I was wondering if a loan…
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Family loan gone sour - advice appreciated
Apologies if this is the wrong forum. My wife provided a handful of small-amount loans totalling < £10,000 to her sister's husband over the past several years - some really urgent over-the-phone and without agreements. Some of this has been repaid so far but none in very recent years. Her sister's relationship is now…
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Loan or Increase Mortgage?
I have a decision to make - I need to access approx £20k for home improvements and don't know if I should look to increase my mortgage or get a loan. A loan gives me a secure monthly payment over a fixed period of time Increasing the mortgage means I can pay it back over a longer period. My mortgage deal ends in 11 months…
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Specialist Motor Finance HP - settlement figure more than I borrowed?
Hope someone can advise on this: Purchased a car in January, financed by SMF. Five year term, no balloon payment, £10 option to buy fee at end of term. Made four payments so far however I'm now able to refinance the deal to a significantly better rate. I asked SMF for a settlement figure; which is over £200 more than I…
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Can you use loans for stoozing?
Typically stoozing is done with credit cards. However, with some loans still being around 5% APR, it seems like it's possible to borrow around 20k for 4-5 years and put those money in a 5 year fixed savings which also earn almost 5% now. The loan amount reduces over year, but saved amount is 20k all the time and it's…
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18 year old nephew can’t get car finance
Hello my 18 year old nephew can’t get car finance they keep declining him.. he’s turned 18 3-4 weeks ago now , he’s applied to be on the electrical roll. He earns £1566 a month which is quite good for a 18 year old. Why do they keep declining !
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Irresponsible lending
Hi I am just after advice on a letter I have received from Barclays partner finance (Clydesdale) The letter states they were carrying out reviews from an old loan and have noted my loan may not have been assessed correctly for affordability they have apologised and advised they will do full review and write to me within 8…
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Moving loan to CC, worth doing or not?
Hi all, I've currently got a loan with 4 years remaining, balance of around 18k, 5.9% paying £420 a month. I've got a credit card that has a high enough limit I could do a money transfer from, and the current offer is 18 months interest free with a 3.5% fee. Is it a bad idea to shift it across? I worked out the fee will…
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Default on loan has date change query
Good afternoon all, Following a complaint a default date was changed from 22/7/22 to 9/3/19. About a month later all CRAs updated to reflect this. A few months later the original debt was sold. This loan with the original company showed as fully settled and a new loan appeared with the new company. The new company has put…
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What are payday loans listed as on Credit File.
Hi, there I made a stupid decision and got out a payday loan without realising the repercussions of it effecting my mortgage applications in the future. However when I looked at my credit file, accessed by Experian, it is classed as a loan. I was just wondering if payday loans are supposed to be classed differently. Thank…
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Joint loan rejection
I've just been turned down for a joint loan from Tesco. I expected to be easily approved so it was a bit of a surprise. Could any of these things be the issue? -I've only been in my job for 9months, but my wife has been in hers for yonks and earns more than I do. -We already have a small loan in my wife's name. We could…
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Idem debt transferred to mars capital
Hi, we had a secured picture loan then moved to idem and when we recently asked for a settlement we got correspondence saying that it had been transferred to Mars capital finance. Does anyone have any dealings with them? We were just about to start negotiations with idem for full and final settlement when the loan was…
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Loan
Hi this is on behalf of my wife as we are separating The best way of Loan for £25k please advise which best way
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Overdales - is it a scam?
Hi everyone. My daughter is at Uni full time and lives with me. She doesn’t have any credit cards or purchases on finance. She just has a Monzo debit card for day-to-day expenses. She has Asperger’s and likes everything to be up to date and uncomplicated. She’s received an email this morning from Overdales saying they…
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Release equity from properties to pay off credit cards
Hi, I am new here and came as I pretty much exhausted all possible solutions I could think off. Need advise and maybe one you can come up with something I haven't so far. I have 3 properties in UK. All with mortgage and each with at least 100k equity. During the covid fraud I had extra expenses and was using credit cards…