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Taking out a loan to increase value of home at sale?
My husband and I are working towards selling our house. It has various problems such as bathrooms desperately in need of redecoration, a damp patch, etc., and my husband wants to do the repair work on these as it will significantly increase the value of the house (based on his research it will vastly more than repay what…
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Hire purchase costs help for a financial illiterate!
Hi everyone,I am in a bit of confusion. It might sound like a stupid query but even after being a highly qualified scientist, my brain just doesn't work very well with finance. 2 years ago we got a new used-car with hire purchase agreement. There were lots of things going on in our lives at the time, so perhaps that is why…
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PCP - Hidden costs?
I'm currently negotiating a new car deal with a reputable car company. They currently have an offer whereby they will provide £2.5K discount if the car is part of their "make the switch" deal - confirmed it is, and also will provide a £5k deposit contribution (advertised is split
between themselves (£2000) and their…
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Is PCP early settlement really too complicated to explain?
I'd really appreciate some advice from anyone with more experience of PCP than me please.I'm in the process of buying a second-hand car from an Audi dealership.I was intending to pay cash, as I have always done before, but they suggested taking out a 2 year PCP for some incentives and "just get a settlement figure after 6…
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Maths help
Hi all I have a new car which is financed at 9.9% APR. My overall interest is £11400 for the amount I have financed including a balloon payment of £25000 after 4 years which I will pay off when I retire. First direct offer loans at 6.4%apr. If I take a loan out off them over 8 years & pay my finance off after 4 years when…
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How do I sue an estate?
I lent a friend money who has since passed away. She died 4 years ago. Her husband got in touch with me after she died and messaged me to reassure me that I would be repaid what I loaned. He has paid about 75% back, that was paid in the first two years after she died. But there is £4000 outstanding. He is being very vague…
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Secured Variable Interest Rate Loan Question
In 2006 we were struggling and took out a large consolidation loan over 20 years with a variable interest rate of 9.9%.For the last 15 years the rate has stayed at 10.52% and never dropped when interest rates were as low as 0.25%.The loan was originally with Picture Loans but has changed hands several times and currently…
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Car finance
I got finance for a work van from zuto, everything went through until picking the van up from the dealer. They kept fobbing me off saying the van needs this doing or that needs doing, so I phoned them to see when I could pick the van up and then again kept happening so I cancelled the finance with moneybarn. I've never…
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Loan for deposit l
Hi, I need some guidance with something, please. My wife and I are separating and she is buying me out the house but is also taking back £15000 which her father gave to us as help with the deposit. Her reasoning is that it was her father who have the money and it has nothing to do with me? The house is also not being sold.…
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Halifax close and pay off homeowner loan
Well I suppose this is unusual situation - in that I received some good news from the Halifax today, but I am also a little confused as to why. In brief I am about 22 1/2 years into a 25 year mortgage so not long to go. I’m not in arrears nor have I been , nor do I have an outstanding claim with the Halifax over PPI , or…
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Family loan
I want to loan £40000 to my brother to help him purchase a property. It would be short term , months not years. I realise it needs to be done legally. Is it just a case of using a solicitor? Do I need my own, or can I use my brothers. Would appreciate any comments from people who have been in this situation? The only…
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Car loan from Barclays partner finance
I have been contacted by letter from Barclays partner finance about a car loan I had with them, they are stating that they may not have correctly assessed my affordability for the loan at the time of the application. How would you reply to the letter??
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Retired couple - car purchase options
We are both retired with only income being from state and occupational pensions. My wife is looking to get a new (used) car as her present vehicle has just passed it's MOT but with multiple advisories for underbody corrosion. She could afford to pay outright for another car (looking around £8k) but would prefer to hold…
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MSE Guide: Bridging loans
This is the place to discuss our new Bridging loans guide. We'd love to hear your thoughts, personal experiences, and general feedback. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
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can't get a loan but own a house
I desperately need to release funds backed by my house (worth only £35k - yes it is cheap - it is Durham) however my past income doesn't come up to scratch. The thing is lenders seem to think I should care that I might lose my property if I can't keep up with repayments, so they won't lend. I don't care, take the house!…
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Finance
I took out finance with premium credit for a fitness course, however shortly after my daughter needed emergency therapy & I became pregnant again (not the plan). Needless to say I had to cancel the course as it was extra money that I could not afford to spend. I hadn’t done any of the course but also missed the 14 day…
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Can I use Statute Barred - Dryden Fairfax re: Erudio
Hi all, I had a student loan from the 90's. I deferred as my salary was low. In 2016, I started getting debt collection letters from Dryden Fairfax - I had no idea Erudio had taken over the student loan. I never received the letters and the option to defer. I have always responded to Dryden and Erudio via letter, and in…
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Nemo 2nd mortgage advice
Hi 13 years ago i took out a loan which has now become a 2nd mortgage apparently, although inittialy i understood it was just secured on my property. The loan was done by the same person who set up our mortgage in our home and was an independant financial advisor who has since been struck off as a professional. It was…
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Refused a barclays interest free loan despite never being in debt
I am really gobsmacked. I get around £40k a year from my job of over 26 years at the same company. I have no defaults to my name and have never gone overdrawn. I have a mobile phone db to O2 and another one with Smarty for my first son. Where it perhaps gets odd is that I have mortgage I share with my wife but the payments…
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Loan declined - first time ever
Quite puzzled to find that Tesco declined to give me a loan. I did the MSE loan calculator on Monday and it offered me a choice of many 95% guarantee. I applied and rejected. I have had a loan with Tesco before and paid on time every time. Thursday, none of the loan offers were now available. 896 credit score. Homeowner…
