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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…
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Car finance issue
I took out a car finance deal in feb 2020 for £10,000 apr 34.9% with repayments of £327.84 i paid £4000.00 initially meaning the the amount now owed to them was i believe £8400 .. i just found out the agreement was due to come to a end on the 1st june 2022 but they have continued to take funds from my account till current…
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Natwest - opps something has gone wrong during application
Hi, has anyone had any problems regarding the Natwest app and online banking during any sort of application? After being pre approved for a loan and after receiving the loan explained email, the screen loads for almost a minute then sends me to the "opps something has gone wrong" page, with a link to restart the…
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Help with Nationwide approval process
Hello! I’ve applied for a loan to consolidate my debt and clear it off quicker, firstly I don’t want any judgements or advice re getting the loan just the process… so I went on comparison site yesterday and nationwide came up at 75%, applied online and it said “approved money released within 2 hours” I then had an email…
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MSE News: Morses Club borrower? It's launched a new redress scheme for mis-sold loans
Borrowers with mis-selling claims against Morses Club likely won't now get the full amount they're owed, after the High Court approved a new scheme put forward by the firm to limit payouts and set a time restriction on claims. But don't let that put you off if you think you've been mis-sold, as you could still be due…
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Loan or Remortgage for home imporovement?
Hi, I am looking for some advice on which is the best way to finance an approx: £15k home improvement. In general, is it better to take out a new separate loan for say 3 years or re-mortgage and add the £15k onto the mortgage? I understand that probably a mortgage rate may be cheaper than a new loan, but I am not sure if…
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Self employed and can't get credit for a kitchen
Just had a credit application refused by Barclays at a popular home improvement retailer for a new kitchen. I tried to borrow 7k interest free for 12 months. What am I meant to do? I already have a credit card with 8k and no balance. I earn 50k a year (12k Pay and rest dividends) ugh.
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Car Finance Rejection
Hello, a query, I have recently applied for car finance with Santander, I was declined despite having two settled previous agreements with them and not having missed a payment, I have no adverse credit, aside from car finance only one credit a account a credit card and according to MSE Credit club have a loan rating of…
