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Loans

Discuss all types of personal loan. Remember MSE's stance on loans: 'borrow as little as possible, repay as quickly as possible'.

HMRC time to pay vs personal loan
Hi! I’m struggling to afford my income tax bill. Would I be better off using the HMRC’s time to pay service or take out a personal loan at roughly 6.9% interest?
MSE Club Eligibility Vs Lender Eligibility?
Hi, apologies if this has already been asked / answered somewhere, I did a search but couldn't find anything related. So I'm looking to take out a loan to consolidate credit card debts into one payment and reduce the amount of interest I'm paying. The 0% cards on offer to me at the moment are only short term (6 - 9 months)…
Remove very old charging order from 2007
Hi can anyone help. Debt originally with Egg card. Then moved to Barclaycard Which I have both ref: Then moved to Eversheds 2012. I've called them all and a solicitors dydren fairfax they suggested but cannot find this debt. No clue if ever paid as not with husband now and can't ask. So have no evidence other than refs. I…
Best or quickest way to pay off PCP!
I really need a house, but really struggling! I realise my car finance and other money issues (Like child care etc) are getting in the way and I need advice on paying off my PCP as quickly or best way possible. Have around 12K left to pay off on finance, with a little less then two years, plus a balloon payment at the end,…
Credit Repair becomes downfall???
Evening All, Over the past few years, I have taken advantage of the multiple Credit Cards offered to me under the premise of Repairing My Credit Score.... however, it would appear that in doing so, i have inadvertently reduced my affordability score due to the amount of credit available, even if I have not used it. Am i…
HELIODOR HELP PLEASE!
Hello I am desperately hoping someone will be able to advise me. I was recently refused a loan. This has never happened to me so I was shocked. My bank advised me to register with Experian, which I did. On my report there was a loan with Heliodor that I had no knowledge of. It has ticks to say it had been paid monthly for…
MSE News: High-cost credit firms SafetyNet and Tappily fall into administration
Credit providers SafetyNet and Tappily have collapsed into administration and stopped taking on new customers – but there's no immediate change for existing borrowers. Both former and existing customers can still submit mis-selling complaints, though there's no guarantee you'll get anything back. Read the full story:…
Experian Credit Score 867 unable to get loan
I realise the Experian Credit Score 867 is only an indication, but I have been decined a 10k load from Tesco's I have credit cards all cleareed and 2 x First Direct loans, First Direct also declined to merge the 2 loans and loan me 10k realise hard but wondering why I can I get credit cards but struggling to get a loan, is…
Will they not take direct debit?
I made an overpayment on my loan of a similar amount to my direct debit. This was made before the direct debit amount, but Virgin have not taken my direct debit today (bank says it was due today). Is this due to the overpayment? I had budgeted for both payments, I'm just trying to work out what is going on. Thanks in…
Address to use for loan
Hi there, I'm in a bit of a conundrum as I am moving and have decided to get a loan to cover furnishings and also to consolidate my current debt. I'm on top of my cards and have a good credit score so all should be good but the issue is I moved from NI to London 6 months ago but as I knew this would only be a temporary…
Small claims court
I live in Scotland. I have a dispute with someone living in Wales, In which country do I start the process
PCP contract terminated by BMW
Hi all, On the 20th of December, I found out my agreement had been terminated by BMW, and vehicle repossession had been instructed to Engage. I only realised this as I had logged onto my online portal to locate a previous settlement figure, upon seeing there was no agreement, I then immediately made contact to BMW…
Car Subscription
Hello, we see lots of adverts these days on car subscriptions like Onto and I think there is one from Volvo. Do any of the forum members have experience of car subscriptions? Is there a catch?
I think I'm right...?...to pay off or not
We have a loan @3% which we used 18 months ago for new windows and doors. There is approx: £3k left on it But our savings get 4% So...better to just keep paying it off and putting money into savings? It does seem odd to not pay it off
What checks are car loan applications subjected to with regard to obligations on other cars?
Hello all Happy New Year and all that business! Cut a long story short... (hopefully)... I'm slightly under 50% of the way through a lease which I'm potentially being released from due to an odd set of circumstances. Given the state of things generally in the economic landscape and how much I need or want an expensive…
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?
0% deposit finance (PCP)
Hello all, I see a lot of dealers offering 0% deposit finance. It seems to easy to pay no deposit upfront and drive away with a £13k ...Seat Arona Are there any downsides to paying no deposit?
Need urgent help. Pcp vs lease purchase
I’ve done a bit of Googling but still confused.Can somebody tell me the difference between pcp and lease purchase from what I understand Pcp has the monthly payments and a final balloon payment with 3 options at the end: -hand the car park at the end and walk away-sell the car and pay off the balloon payment and any…
Borrowing for house work/cellar conversion
Hi I have had some quotes to convert the celllar/basement in my mortgaged home but have been put off borrowing with the current interest rate rises. Is there any other options out there other then additional borrowing/further advance on current mortgage? Expecting to borrow between £40-£60k (North of England) with a mix of…
Post Office Loan Interest Rate
Hi All, Recently applied for a PO loan as the interest rate seemed competitive in the current market! Initially did a 'soft search' and it gave me a 9.9/10 chance of getting a interest rate at 5% for loan. On that basis I completed a full application and at was offered a loan at 10% interest rate. Obviously, this rate is…

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MSE News

Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payments this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.
Which NatWest and RBS branches are closing from 2025? Here's the full list – and banking alternatives
NatWest and Royal Bank of Scotland (RBS), which are both part of the NatWest Group, will shut at least 108 of their bank branches in 2025 and beyond, after the Group announced a further 52 NatWest closures.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
Winter Fuel Payments will be reinstated to all pensioners in England and Wales this winter – but will be clawed back automatically from those earning over £35,000 a year, the Government has confirmed. It means nine million pensioners will get the £200 or £300 top-up. MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis.
Car finance mis-selling update: regulator prepares for compensation scheme – and warns against using claims firms
Payouts for mis-sold car finance could be another step closer as the financial regulator has set out the factors it will consider if it were to introduce an industry-wide redress scheme – though we won't know more about how this will work until after a key Supreme Court decision expected in July. In the meantime, the regulator has warned that you DON'T need to sign up with a claims firm to be included.
Winter Fuel Payments to be extended to pensioners earning £35,000 or less – here's what we know so far
Winter Fuel Payments will be extended to all pensioners with incomes of £35,000 or less this winter, the Government has confirmed. It means nine million pensioners will get the £200 or £300 top-up.
Winter Fuel Payments extension confirmed for this winter – watch Martin Lewis' instant response and his message to the Chancellor
Winter Fuel Payments will be extended to more pensioners this winter – though not to everyone – the Chancellor has today confirmed. However, exact details of who will now qualify still remain scant. Watch MoneySavingExpert.com founder Martin Lewis give his instant response, as well as his key message for Rachel Reeves.
Nationwide Fairer Share: Free £100 bonus confirmed for 2025 – here's who will get it
If you bank with Nationwide, you could get a free £100 paid into your account in June or July as part of the building society's 'Fairer Share' scheme. The bonus will be paid to millions of its current account customers who also have savings or a mortgage with it.
Forced onto a prepay energy meter? You may be due money back as 10,000s to be compensated
If you had an energy prepayment meter forcibly installed or your smart meter was remotely switched to prepay mode without your permission, you could be entitled to compensation of up to £1,000 and may even be eligible to have your energy debts written off.

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Loans

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