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Confusing loan eligibility percentages
Hi there, I've been using the MSE loan calculator, as well as the eligibility calculators on the websites of loan providers. With the MSE tool, it tells me I have one loan option, but only with 10% likelihood. For me, that obviously basically means zero loan options. But, with Tesco's eligibility calculator, it states I…
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10 year loans
I know MSE stance on borrowing as little as possible and payback as quickly as possible but can anyone the best way to go about getting a 10 year loan. It is for a new car but over 10 years the payments would be kept to an amount I can easily afford each month and we would have a new family car. Just want to know who's the…
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Best Personal Loan Route for Paying Credit Card Debt?
First post in forums. Sure traffic has increased significantly recently! I need some advice on my best route to a personal loan. I have just finished* an extension and complete renovation of my home and moved back in after nearly 3 years of building work (mostly thanks to COVID delays).To get the extension finished* I…
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New PCP agreement
Hi all, Possibly going to get roasted here about PCP agreements but I'm just about to start one. I've had the finance proposition and the monthlies are good with the standard bubble payment. Fortunately I have a nice pot of savings (emergency fund) and worked out that for every £1k of extra deposit I could save £25/month.…
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future value of historic loan
I loaned someone some money abour 15 years ago and would like to know what would be the value of that money now if it had been deoposited in a regular savings account. It doesn't need to be exact just a ball park figure. Where would I get the historic interest rates? I have already used an online RPI calulator to find the…
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Joint loan
Hello, is there a comparison site i can use to find joint loan probability rather than just based on individual? thanks
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Pay off loan or credit card?
Hi everyone first time poster and needing thoughts on this please and hoping this is the correct forum for this? I have a loan with RBS which costs me £95 per month and to clear it would cost £1750. The loan ends in Sep 2024 and it was taken out in Sep 2014. I also have £4200 on MBNA credit card and the interest free…
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Car hire purchase
I currently have a bank loan. If I take out a hire purchase on a car can I add my existing loan to the car hire purchase hence paying off the loan with the bank?
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Car finance for 3rd party
Hello Is it legal or possible to:Person A wants to buy a car but has poor credit score so cannot.Person B agrees to sign the agrrement in person B name and ownership of car (V5 registered to personB) and make the payments (money coming via person A to B account first) to finance company. The driver is only person A Is this…
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Evidence for self employed loan
Hi there, Does anyone know which loan companies will accept bank statements only for evidence for self employed income? I can hardly find any information on this. I've got 100% pre-approval from a few companies and an excellent score but my income has improved sharply since my last tax return so I can only prove my salary…
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Car Finance Loan
My son in law has recently passed his driving test and immediately bought a car through a finance company at an APR of 34.9% over 5 years resulting in repayments of £15k for an £8k car. I was unaware of this but the agreement has now passed its cooling off period. To compound matters he is facing insurance quotes of over…
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Loan - Welcome Finance
Hi look for some information /advice I took a secured load out in 2007 with Welcome Finance. I believe this load has been paid in full , I am not paying anything currently and no one is requesting payments for this load. Appreciate this is from 2007 and Welcome Finance is no longer , however I cannot find a letter stating…
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Loan to get rid of credit card debt?
I have recently been considering the option of taking out a loan of roughly £12k in order to pay off credit cards, but I am confused as to which would have the more negative impact on my credit score. I regularly make the payments on the credit cards but with my mortgage deal ending next year I was wondering if a loan…
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Family loan gone sour - advice appreciated
Apologies if this is the wrong forum. My wife provided a handful of small-amount loans totalling < £10,000 to her sister's husband over the past several years - some really urgent over-the-phone and without agreements. Some of this has been repaid so far but none in very recent years. Her sister's relationship is now…
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Loan or Increase Mortgage?
I have a decision to make - I need to access approx £20k for home improvements and don't know if I should look to increase my mortgage or get a loan. A loan gives me a secure monthly payment over a fixed period of time Increasing the mortgage means I can pay it back over a longer period. My mortgage deal ends in 11 months…
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Specialist Motor Finance HP - settlement figure more than I borrowed?
Hope someone can advise on this: Purchased a car in January, financed by SMF. Five year term, no balloon payment, £10 option to buy fee at end of term. Made four payments so far however I'm now able to refinance the deal to a significantly better rate. I asked SMF for a settlement figure; which is over £200 more than I…
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Can you use loans for stoozing?
Typically stoozing is done with credit cards. However, with some loans still being around 5% APR, it seems like it's possible to borrow around 20k for 4-5 years and put those money in a 5 year fixed savings which also earn almost 5% now. The loan amount reduces over year, but saved amount is 20k all the time and it's…
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18 year old nephew can’t get car finance
Hello my 18 year old nephew can’t get car finance they keep declining him.. he’s turned 18 3-4 weeks ago now , he’s applied to be on the electrical roll. He earns £1566 a month which is quite good for a 18 year old. Why do they keep declining !
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Irresponsible lending
Hi I am just after advice on a letter I have received from Barclays partner finance (Clydesdale) The letter states they were carrying out reviews from an old loan and have noted my loan may not have been assessed correctly for affordability they have apologised and advised they will do full review and write to me within 8…
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Moving loan to CC, worth doing or not?
Hi all, I've currently got a loan with 4 years remaining, balance of around 18k, 5.9% paying £420 a month. I've got a credit card that has a high enough limit I could do a money transfer from, and the current offer is 18 months interest free with a 3.5% fee. Is it a bad idea to shift it across? I worked out the fee will…
