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Moneybarn interest
Hi I bought a car in January 2025 Purchase price was £10.999.00 With 60 monthly payments of £297 .I have made 8 payments all on time I have also made about £500 in extra payments. Around £2800 in all I asked for early settlement I still owe £10.237 so only £762 has come off my balance and 500 of that is extra payments so…
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Moved: NRAM/UKAR
This discussion has been moved.
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Can I make my PCP any cheaper? Does any company do interest only loans?
Took out PCP for 24k, 10k GMFV, GMFV due August 2029. 9% Overpaid loan by 14k, 10k GMFV left, paying monthly interest of around £74 which will equate to 3.5k and then pay 10k in 2029 (probably trade in) Can I get this 3.5k halved to by finding a better rate than 9%, I presume not....I do not want to take out a money…
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Debt Collectors Different Strategy
Hi Folks, I've read the threads suggesting you send the "prove it" letter when recieving a letter/demand (£4,500) in our case for a debt that isn't yours. But we've tried that, and they're refusing to provide any information about this debt. The only information they've provided is that the account was created in 2001. So…
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Cinch Car Finance
Hi all, I’m looking for some advice. Maybe there is someone has been in a similar position. (Sorry for the long post) so long story short (ish… after just having my baby boy I decided I needed to take the plunge and get a bigger car. I turned to cinch and purchased one through finance with them. All was fine and well to…
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New MSE car refinancing guide
Got car finance? Test our new guide & tool to see if you can refinance to save £100s or £1,000s? We're testing a new guide, to see if people on PCP or Hire Purchase deals can save by Car Refinancing. It's brand new territory for us, so we wanted you to go through it, see if you understand it, whether you think the guide…
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Home extension loan
Hi. I have about 160k in savings and need about 100k to give me some breathing space on extension I’m planning to do. My house has no mortgage and I have some properties under business account too. Again no mortgages or loans on them. What’s the best loan to get, ideally want something that I can payback quicker without…
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Avoiding the 58 Day Rule
I took out a £10,000 loan for 48 months from MBNA on 9 September 2024. Current balance is £7,715 I pay £235 per month Interest is 6.4% If I clear the balance (from savings) I have to pay 58 days interest. I can make as many overpayments as I wish. If I overpaid say £7,500, would the balance be paid off after the next…
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Moneyway Car Finance - Support During Arrears Claim
Hi All, Out of the blue I received a letter from Moneyway owned by Secure Trust Bank to say that they are currently reviewing the support that they offered to customers during times of arrears as they admit that they may not have supported customers as well as they could. A while back I had a £20k car loan eventually…
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Need £65K to fund son's education. Is remortgage the best option?
Asking on behalf of a friend ( ;) ) Need to fund son's education £65K in £20K slices. House valued at about £500K has £37K left on the mortgage. Considering remortgage to provide the £65K - is this the obvious way forward? I've suggested they find mortgage that allows overpayments without penalties as they have decent…
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Personal loans for older people?
Hi looking to help my father in law. He's 91 and after a new hip and stroke we moved in with him to care for him full time. He has a good stable income (pension and benefits), owns his own house and also his car outright after he paid off a PCP loan about 3 years ago (so he has good credit history) Although mentally sound,…
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Moved: Wifes Debts
This discussion has been moved.
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DCA
Last year I submitted a complaint to Mercedes on behalf of my friend using the Martin Lewis template for DCA claims in respect of two cars and they acknowledged it ok. However, their response is now that the car finance for these cars was not regulated and therefore they are not subject of any FCA ruling. Even though…
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Best way to finance house improvements
Hello, the last year I made the biggest step, buying a house when it’s the worst time ever 😅. I’ve spent money on it but it never ends and it just compromises my living inside, so I need a financing option for decoration, conservatorium, some bathroom upgrade etc. Unfortunately it’s only one year I own the debt, and I’ve…
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pensioner loan
Hi, need advice..I need to take out a loan for £20,000.00. I am 69 years old, a home owner (No mortgage) Property value £400,000.00 . Am on a gov pension & work part time 2 days per week. What is the best option?
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Car finance and mortgage help
Hello, My partner and I are looking to buy our first home and have found the house that we want to buy. We will have around a £250,000 mortgage and were told we could borrow £350,000 in our mortgage in principle. The issue has arisen that the new build will be finished and ready to move in, in March, the same month my…
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Home improvement loan, SMI etc
Bit complicated - sorry. Please bear with! I have a mortgage from a house I bought last year using a substantial loaned deposit from my mum. All done via solicitors. We have a declaration of trust/second charge charge in place and I have agreed to pay her 5% interest (matched to the savings account where her money was…
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How do you overpay a loan to avoid paying the early repayment charge?
For example, Zopa loans let you overpay and it consistently recalculates the monthly payments over a 4 year term every time I suggest I am overpaying online to see the monthly figure change, but as soon as I request an early repayment figure, it auto includes 2 months interest on top....
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Interest free credit - product hasn't arrived - how to proceed?
TL;DR bought a watch as a present on 12 months interest free back in June. It hasn't arrived. Not sure how to proceed? A detailed timeline: * 19th June: Bought a watch, apparently in stock, Paid £145 to the credit company (V12) * 26th June: Became clear it wouldn't be happening (not in stock, no longer in production) - was…
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Loan overpayment help
Hi there, inexperienced borrow here, looking for some help or advice (and please not criticism). In a bit of a bind, I took out a loan with Loans2go at an eye wateringly high level of interest. The loan sum was £1500 over 24 months, with a repayment amount of £4848. It was (and still is) my intention to pay this loan off…
