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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'.

Fixed vs Variable Business Loan
When I read about fixed vs variable business loans, I always thought it referred to the interest rate being either fixed or variable (and therefore the repayments also fixed or variable as a result), but the loan term remaining fixed. I spoke to a bank lending manager about a loan and they called it a variable business…
Taking out a loan before switching mortgage deal
Hi, I'm considering taking out a loan to consolidate some credit card debt. My 2 year fixed mortgage is up in September and I'm wondering if applying for a loan now will affect my new deal even if i was to stay with my existing lender? Don't know much about this as this was my first home purchase so any advice would be…
Loan to help a family member
Hello, my boyfriend recently took a loan out in his own name with his own details to help a family member pay for car repairs and other household items. I know he is fully responsible for paying the loan back he is not looking payment back from the family member but they are paying him back as a gesture of goodwill. Is…
Home improvement Loan for non home owner
I live with my wife in a home which is owned by her parents. The house has no mortgage and we don’t pay any rent.We want to get a home improvement loan but as we don’t own the property, we can not get a mortgage. Where would be the best place to obtain a loan with a low interest rate?
Can you overpay PCP finance?
Example. Car is 20k Deposit 5k 10k over 48 months GMFV 5k Effectively over pay by 9k, have 1k on monthly payments over 48 months and know full well I have the option of returning the car or keeping it. Will this reduce interest to hardly anything and payments which are minimal monthly amounts over 48 months?
Best way to buy a car - loan or credit card?
The car costs £16000. We don't have savings. Should we get the dealer credit, apply for a loan, and could we pay either off using interest free credit cards quickly and just transfer as the time period for interest free ends.
paid off 2 loans, is there a negative to this?
I paid off 2 loans recently which amounted to £9k and payments of almost £700pm. My credit score went up by 18 points and although I'm aware this means nothing in the grand scheme of things, it seems in the eligibility checker for balance transfer cards or further loans that any offers there recently are no more. Does…
Financial ombudsman
Hi all, so my complaint has been upheld my initial investigator but firm is contesting. After 3 month investigation would have hoped it would have concluded by now. Anyone have any experience in this field, what is timeline and is it worth negotiating with firm so that an expedited outcome is on offer?
Help Needed Please - Lived Abroad, No Credit History
Hi Everyone, I have just returned after living in Australia from 2009-24. I've got a job with car allowance, property in Aus still and no bad credit history in either country. I have approx £2-3k in cash and am currently unable to access assets. I've tried getting car loans for around 15k but no-one will touch me unless…
Bounce back load- dormant company
Hello, Looking for advise from similar suitable of outcomes. My limited company Barclays BBL I haven't paid anything since last couple of years as limited company has been dormant and Barclays closed my business account with them over 15months ago. They have given debt to collection agencies. So far just letters to contact…
loan for depoist for car
Hi I need around £3k for depoist on a car to keep monthly repayments on car low what is best idea credit card or loan
In loan application limbo
Hi all, My mum and I have purchased a property (co-owners). We're having a renovation done and although not ideal, we (well, I) may need to look into getting a loan at some point. A bit more info: * We're not currently living in the property (it's unoccupied) * We're currently renting a place we've lived at for 17+ years I…
Secured loan
Hi everyone. My wife and I have paid our mortgage off and own our home. We are planning to separate and she will remain in the house and we have no intention of selling it. I am looking to take a secured loan out against the house, now while I understand she will have to agree to this as the deeds are in both names, my…
Hire Purchase Car Loan Advice
Hello all, long time observer first time poster. In April 2025 I will be one year into a five year Hire Purchase car loan. I will be in negative equity of £3000. My grandparent has gifted me £4000 to get a new car. I bought the one I have now in a bit of an emergency due to my 2011 Citroen's engine failing and was…
Debt consolidation query
Hi so I have three debts, loan, credit and credit card. Approx 25k. Martin has advised pick the highest interest rate and pat extra on that one first. So does it make a difference if I pay extra every month or if I save the extra and pay a 3 month saving in bulk every 3 months? I looked for consolidation loans and found…
If Swift Advances have bought Welcome finance secured loans ?
If Swift Advances have bought Welcome finance secured loans are they responcable if welcome gave me a loan that was iresponsable borrowing (ie) 12k loan to a unemployed person that had a 133000k mortagage already and had to get the secured loan to pay the mortagage on income support paying intrest of 700 and 700 to…
Unsure whether to consolidate - please advise
Hello everyone, First of all, I can't believe I still remembered my username and password. It's quite a while since I've logged into MSE! Anyway, here are the facts. I currently have three debts I am paying off 1) £5727.54 loan(started at £11k)with Zopa @ 4.8% - I pay £230pm 2) £7568.74 loan(started at £12k in 07/2014)with…
Morses club claims
Good afternoon, I'm hoping someone knows what actually happened with this scheme. I was told to expect some money in September this year but the scheme has all but disappeared, neither the phone number or portal works. There is a page full of information but I do not understand it, as far as I knew it was all sorted last…
Fraud please help
Hello! I received a letter last week from Barclays partner finance saying that I had taken out a loan for an apple I phone. I haven't and in fact own nothing from apple. It looks like this is fraud and someone has my details including my bank details. A direct debit was set up. So I cancelled the direct debit, changed…
HP Car Loan Advice Credit Rating
Sorry. I am struggling to comment on my previous thread and decided to create a new one with the needed extra information: Hello all, long time observer first time poster. In April 2025 I will be one year into a five year Hire Purchase car loan. I will be in negative equity of £3000. My grandparent has gifted me £4000 to…

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MSE News

Martin Lewis: How to call your bank with just three digits – as 'anti-scam' phone number called over a million times
One million calls have been made to the '159' anti-scam phone number since its launch in 2021, new figures reveal today (Wednesday 30 April). MoneySavingExpert.com founder Martin Lewis – one of the well-known faces most used in scams – explains how to call your bank by dialling just these three numbers.
Revealed: Holland & Barrett's supposedly cheaper 'Subscribe & Save' often costs more – it's promised a review after our investigation
Holland & Barrett's 'Subscribe & Save' scheme claims to offer regular shoppers "the best value" – but it failed to do so in the majority of cases MoneySavingExpert.com checked over a five month period. The retailer has now promised to review the scheme after our research found it was often more expensive.
Don't get your passport by post – 360,000 paid more than needed last year
If your passport is due for renewal, apply online if you can – it'll save you £12.50. More than 7 million Brits did just that last year – but over 360,000 missed out on savings by using a paper form instead, MoneySavingExpert.com can reveal.
Sainsbury’s Bank customer? NatWest takes over this week – here's what it means for savers and borrowers
Sainsbury's Bank's savings, credit cards and loans will be taken over by NatWest from Thursday 1 May. For most, this means little will change for now as the Sainsbury's Bank brand will remain, though it's expected to be phased out towards the end of this year. However, if you've over £85,000 saved across both banks, it's worth considering moving any excess elsewhere to ensure your cash remains protected.
Chase customer? Check if you can get its newly boosted 4.8% easy-access saver
If you've got a Chase account, check if you can boost your easy-access savings to 4.8% – made up of a 1.8% AER fixed six-month bonus plus its standard 3% variable rate. Chase says over 2 million customers can get the boost, which would top our normal savings tables if it were open to all, though it's beaten by the top easy-access cash ISAs.
NatWest to complete takeover of Sainsbury's Bank this week – here's what it means for savers and borrowers
Sainsbury's Bank's savings, credit cards and loans will be taken over by NatWest from Thursday 1 May. For most, this means little will change for now as the Sainsbury's Bank brand will remain, though it's expected to be phased out towards the end of this year. However, if you've over £85,000 saved across both banks, it's worth considering moving any excess elsewhere to ensure your cash remains protected.
Martin Lewis: Is the £20,000 cash ISA limit about to be killed off? What savers should be doing now
Plans to cut the £20,000 cash ISA limit later this year are being considered by the Government. In his latest video, MoneySavingExpert.com founder Martin Lewis explains what's likely to happen, what the changes would mean for savers and what you should be doing now.
NatWest to complete takeover of Sainsbury's Bank this week – here's what it means for savers and borrowers
Sainsbury's Bank's savings, credit cards and loans will be taken over by NatWest from 1 May. For most, this means little change for now as the Sainsbury’s brand will remain, though it's expected to be phased out towards the end of this year. However, if you've over £85,000 saved across both banks, you'll need to move any excess elsewhere to ensure your cash remains protected.
NatWest to complete takeover of Sainsbury's Bank this week – here's what it means for savers and borrowers
From Thursday 1 May, Sainsbury's Bank credit cards, loans and savings accounts will be run by NatWest as part of a deal between the two banks. You'll be moved to NatWest in the future, likely towards the end of this year, but for now the Sainsbury's Bank brand will remain and you can continue to use its products and services as before.

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Loans

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