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Trying to understand hard searches and impact on loan applications
I have a loan offer (provisional approval) from a company after a soft search, however i want to see if i can better it with my bank (HSBC) who offer a lower rate. My concern is that if this is declined i will have a hard search on my file which then in turn might prejudice the other offer, as they will presumably need to…
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Car finance vs bank loan
Hi I have car finance with Blue motor finance since Oct which is based on 14.9% APR. Is it worth getting a loan from my bank which is based on less monthly payments to pay off the car finance and clear the HPI, so this would enable me to sell off the car, if required. Thanks
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PCP calculation advice
Hi guys I was wondering if you could help me decide which way of paying for my new car will cost less overall. Cash price is £31500. Yes I’m aware that’s alot but that’s my choice 😊 I have about £5k to use towards the car. I currently have a 2.9% bank loan. The settlement on that is about 2k less than my current car is…
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Loan from parents and inheritance tax
Hi all, hope you can advise? My parents have kindly agreed to loan me 30k to pay off a secured loan. After this loan has been paid, I'm hoping to move home and get a new mortgage. I will be paying the full load amount back ,with the equity from the house sale. Hopefully this will be with in the year. My dad is now worried…
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Taking family member to small claims court/loan
Hey everyone, How you all doing? Sorry if this is in the wrong section. Long story short my sister had always had an alcohol/mental health problems, she was getting back on track, new flat etc, I purchased her a new washer and fridge freezer via finance from AO as I have an account with them, this was set over 2 years with…
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I am in a pickle
My username says it all, I have made some very stupid choices and I am now in a complete riddle of a pickle. I don't actually think there is any way out, but I thought I might ask just in case. Bear with me this might sound odd... but I promise you it is about loans/borrowing. It all started in December 2019, when my son…
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Pay off old RBS or not?
I have an ancient RBS loan with repayments set to a small amount that’s manageable. I am not paying interest. they have offered me to settle for half the balance (5000) so a £2500 settlement. Should I even consider this or leave as is?
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Personal loan with length longer than remaining visa?
Hi all, Does anyone know of a loan provider that will provide a personal loan for a length longer than my remaining visa? My visa expires next year in September, but I will be eligible for ILR and will convert to permanent residency. I own a house and have a mortgage, so I have roots in the UK long-term. I was soft denied…
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Help with loans
Hi, I have recently joined the forum and I haven’t posted before but im in need of some help and advice as I’m unsure what to do. PLEASE be kind, I am well aware this situation is of our own making. We are a family of 4 and both my partner and I work full time however for various reasons we have got into debt.…
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Car Finance
My current car is coming to the end of it's life and I am looking at my options moving forward, traditionally a small bank loan would get me a decent car ~ 3 years old with minimum mileage, however, this no longer seems to be the case. I am confused to what people are doing currently? leasing looks attractive but I hate…
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GAP insurance
Hi My first time doing a PCP and I had never heard of GAP insurance until the sales man mentioned it. The car is retailing for £15,000 at 10.9% APR.. my friend says I don't need the GAP insurance as I have comprehensive insurance. Any experience from forum members?
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Mortgage v Personal Loan
Is there any difference / preference between say a £30k mortgage or a £30 personal loan? I'm looking to buy a property ( small flat for me ), but the main residence will stay on Mortgage - it's not a buy to let. Just wondering - loan would probably be easier to get, but not sure if the interest rate would be that much…
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Debt consolidation loan - ue for diff. debts??
If someone had an agreement in principle for, say, a £10k secured loan to pay of a single unsecured personal loan at a lower rate of interest, could they use this to pay off £8k of that loan and keep £2k to pay off an overdraft? In reality, would the lender know, find out or even care, so long as repayments happen as…
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NRAM
Hi. My flat was repossessed about 13 years ago due to a divorce. NRAM sold the flat for a shortfall which turned into an u secured load. My ex doesn’t pay on it. But I pay a token amount as it was £69k and I don’t have that kind of money. It’s now approx £58k. I’m still paying a token amount. But I’ve not had any…
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Lending Stream threatening CCJ through TM Legal Services for a 10+ missold payday loan
Hi everybody. This is my first post here but am having a stressful time as it is without receiving emails (the latest being yesterday) from TM Legal Services threatening me with a CCJ on behalf of Lending Stream for £433.70 (over 4 times what I borrowed). I borrowed from them during an extremely difficult time. I had just…
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Chances on getting a debt consolidation loan & is it a wise choice?
Hi, I'm planning to apply for a debt consolidation loan from a credit union and would like to know my chances and if this is a wise choice. We moved to the UK 5 months ago from Japan and accrued quite a huge sum of initial expenses (visas, NHS surcharges, moving expenses). Currently our net income is around £3.8K monthly…
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Black Horse Car Finance - First payments
So the documents I've had from Black Horse so far don't say anything, and I cant setup my online account yet because I dont have my new car yet so I'm not fully their 'customer' yet. But does anyone know when Black Horse Car Finance will take their first proper payment. Obviously they'll get my old car and the rest of the…
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Debt consolidation Loan
Hi, when doing soft eligibility checks for a debt consolidation loan, I keep getting "sorry we aren't able to offer you a loan", from numerous lenders including those I already have accounts or credit cards with who are emailing me suggesting I take a loan to consolidate debt. I have approx £15K on credit cards (just under…
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Loaned money to a friend
I regretfully loaned money to a 'friend' in April, and he said he would pay me back at the end of May. May has obviously come and gone and now I do not hear from him at all. Prior to me loaning him the money, he had been calling me daily almost begging for the money so he can pay for his wedding, and he said he would pay…
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Home improvements - borrow more or get personal loan
We are remortgaging soon and need about 5K for some home improvements (that actually cost more but we already have the funds) Is it better to put this additional 5k on our mortgage or get a personal loan? My only issue with getting a loan is its another hard check what with already remortgaging or does it not matter?
