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Will having interest free payment plans in place affect me getting a personal loan?
Good morning forumites. I am in the midst of renovating my flat and looking into interest free payment plans for new kitchen, bathroom and living room furniture (all with different suppliers). I have a budget but of course if I can spread the cost over a longer time frame it would be very helpful. Not really done many…
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Additional borrowing for debt consolidation.
updated on a new thread
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approx maximum total loan figure
i have been accepted in principle for two loans, both 25k from tesco and nationwide. my income is around 30k and i have no other debts and a big sum in savings due to not owning property. my question is how much could i borrow in total roughly using personal loans? it looks like ive already been accepted for 50k would that…
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Affects of PCP agreement on future lending
Hello, I was wondering if someone in layman’s terms could breakdown how a PCP for a vehicle would affect my lending power for example I am not sure if A) Is the full value of the pcp agreement ( car price + interest) looked at as debt? B ) Is it just the vehicle price that sits on credit file as debt? C) Is it the loan…
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Graduate Seeking Advice on Car Finance Options
I’m recently out of university and in need of some advice on car finance options. Here’s a brief rundown of my situation: I just graduated from university and I have a graduate job confirmed that starts in September. The job thankfully comes with a £30,000 salary. I have already signed the contract, so that's…
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Is the debt repayment period being changed on my loan?
Hello, I attended University 2007 - 2010. My understanding is that my loan is a plan 1 loan. When graduating I believe the T&Cs of the loan stated that if not repaid within 25 years following the first April post graduation, the remaining debt would be wiped. Is this still the case (?) or have the T&Cs changed, or are due…
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Borrowing for home improvements
I'm looking to borrow a relatively small amount of money (about £5,000) to enable me to finish off my home improvements and (hopefully) sell my house within the next year - 18 months. My fixed mortgage period is ending in a couple of months, and my sticking with my current provider is the cheapest option. I've spoken to…
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Somewhat confused over options
I'm in the last year of a 3-year personal finance agreement with VW Finance. I've got the 'settlement' figure and had a long talk with a human being there (which is worth noting). It seems that if I pay £5,000 now, I'll reduce the monthly payments from £300+ to only £50 (!) and the final payment will be moved to next June…
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Car loans and PCP overpayment
I've ended up in a bit of a weird financial position recently and wanted to seek advise I purchased a used car in 2020, it was a 66 plate astra with 4k miles for £12k. I got a loan to pay for it which I've since cleared in full (had some money from house sale) so no debt on the car. I was glad not to have a car debt, and…
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Short term loan without penalties
Hi. Wont go into details, but basically need a short term loan (£6K) to be repaid max 2 weeks without outrageous penalties. Any suggestions?
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Bounce Back Loan - 'Event of Default'/ Demand for Repayment in Full
Letter received from business banking requesting full amount of bounce back loan be repaid immediately due to an 'event of default' . An 'event of default' apparently is not the same as a default on a repayment. We haven't defaulted on a repayment, every payment and interest has been paid on time. Have the bank have…
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Default
If I have a default on my credit file from 4 yrs ago, the default was payed off within 6 months. I have 2 credit cards with no debt and no loans and a good income. Will a high street lender accept me or will the default massively effect my chance.
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Eldgerbridge
I’ve seen on a lot of forums that we should contest the interest rate used throughout by Elderbridge as it was unjust ? This loan was passed over by first plus, I took the loan out in 2007 £35k @ 6.4% variable over 288 months I still have over 18k to go … which I understand is right but the interest rates have been far…
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Interest Rate rises - Discrimination at its finest? Why BoE interest rate rises don't make sense
When interest rates rise they burden a minority with massive unexpected and unbudgeted increases. The BoE have written that interest rate rises affect 14% of homeowners immediately, while 86% are either unaffected or better off due to receiving extra interest on their savings. Of huge concern is the extent to which the few…
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Temporary loan for 75 year old mother - trying to avoid equity release
I've been trying to find temporary finance options for my mum. Her situation: * She has very little money remaining from the lump sum my dad left when he died. * She is waiting on some inheritance money that will take 3-6 months to come through. * She owns her home mortgage free. * She also owns half a property in London…
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Car finance
I'm a carer for my son and cant find anyone that will do finance! I receive carers allowance, universal credit and child benefit. There's never a option on the online forms for my situation. Only unemployed and that looks awful because I'm actually not. I was hoping to get a loan for around 8,000 over a time they want for…
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Bounce Back Loan & VAT Debt
Hey There, Reaching out in the hope you can offer me some advice on my bounce back loan and VAT Debt. I was self employed engineer contracting for an automotive vehicle manufacturer supporting prototype activities. Due to covid restrictions the business was forced to suspend activities in March 2020 and didn't return July…
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Loan To Family Member
Hello, I’m looking for a bit of advice. A family member has split from partner and is looking to buy him out of the mortgage. She’s seen mortgage advisor etc and it has been agreed that she can take over/transfer mortgage to herself. But requires enough funds to give him his share of accumulated equity. She has asked to…
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Loan Agreement
Do I have to use a solicitor to draw up a loan agreement?
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Default on credit file, Cabot Financial
Took a loan out with Likely Loans and managed OK, got a top up and didn't mange it so well. Defaulted in Sept 19 and paid it off with Cabot Debt Collection Agency, Apr 20. Put a complain in about irresponsible lending but ut got upheld. Should of taken it to thd ombudsman but my daughter became poorly so everything got put…
