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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'.

Overdales - is it a scam?
Hi everyone. My daughter is at Uni full time and lives with me. She doesn’t have any credit cards or purchases on finance. She just has a Monzo debit card for day-to-day expenses. She has Asperger’s and likes everything to be up to date and uncomplicated. She’s received an email this morning from Overdales saying they…
Release equity from properties to pay off credit cards
Hi,I am new here and came as I pretty much exhausted all possible solutions I could think off.Need advise and maybe one you can come up with something I haven't so far. I have 3 properties in UK. All with mortgage and each with at least 100k equity. During the covid fraud I had extra expenses and was using credit cards…
Home owner loan for debt consolidation??
I have about 30k debt, 10k loan 20k credit cards, most the credit cards are interest free at the moment apart fom 4k but the interest free periods will start to end later this year My credit report is ok no late payments or anything bad but i doubt i could get any other cards to balance transfer to or unsecured loans due…
Low Interest Rate vs Well Known Lender
The lowest interest rate is coming from RateSetter - a company I've never heard of. A slightly higher one is available from Sainsbury's. Borrowing £15,000 for a car (perhaps only £14,000 if the interest charge reduction seems worth it). Should I pay slightly more interest and go with a well known company or go for the…
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…
Salary Finance won't take my loan repayments!
Hi there. I left my employer last June and notified Salary Finance. I have Direct Debit details on file with them to switch my monthly repayment from salary to DD, and one payment was successfully taken by DD post-leaving. In August 2022 I lost access to my account which took months for them to resolve (with no explanation…
Apr MILES higher than expected - what to do?
Hi I applied for 10k for a car loan. On mse website it had representative 4.9% and while I know not everyone gets that, I almost keeled over when it came back at 8.9% I've always previously had excellent credit rating. I have in the last 2 months only made minimum payments on my credit card by accident. Literally never in…
Credit Union Loans
I've been a CU members for over 50 years and if truth be told the number of loans I've taken out were minimal; I save to support my community While I may have been a member for over half a century when a friend asked me what the CU interest rate was I replied with confidencec1.5 percent per annum on the on paid balance but…
Arrangement to Pay
So I agreed on an "arrangement to pay" on a loan I had fallen behind on the repayments for. I have had no end of issues since this, my credit score has plummeted to the worst its ever been and I cannot get finance for a new car which I desperately need. The issue being they arrangement to pay payments are showing as missed…
Money being demanded for a loan I don’t know about
I have received numerous emails to an email address I rarely use demanding money for a debt I supposedly owe. The email comes from a company called ACI who say they bought a debt of mine from another company. As far as I’m aware, I am debt free. I owe nothing. So I asked them to explain to me what the debt was for and they…
Can I include rent paid by employer in my total salary?
Hello My employer pays for my rent and this is deducted from my overall salary. When applying for things like a mortgage or a credit card, am I allowed to include the amount of rent that my employer pays in the figure I put for my salary, or must I only put the amount that it says on my payslip? I have searched the…
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…
Best lender to apply from for personal loan
Asking for a friend. My friend is working through agency and wants to take out a personal loan. His hours and pay do wary substantially between the different months, therefore to maximise the amount available to borrow, ideally he would need a lender that would look at the last one or two months of salaries as opposed to…
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.
Pay Day Loan reclaim help
I hope this is allowed, I am brand new here. I recently used this forum and used the template letter to try and reclaim my interest and charges from payday loan companies. here is a copy of my complaint that I sent to 3 companies (Fundourselves, cash4unow, Mr Lender) “I have had the above account since 2019 but believe it…
Loan between family, is this fair for both parties
Hi Trying to help a couple of people out and I’ve no idea how to work this out. Everything is cool between the 2 parties and it’s just a check to make sure it’s fair. In 2009 Person A lent Person B £35k since then B has been paying A back at £200 per month, at the end of each year it’s been paid back as £2k capital and…
Help Required - Removal of Second Charge from Deeds - Elderbridge
I am currently trying to get a second charge removed from my deeds. The loan was repaid 2017 and we are having a hard time getting it removed. Is there a legal responsibility on the loan company to remove the legal charge when the loan is paid as we have 2 charges one with First Plus and one with Elderbridge who bought the…
Options on loan
Hi, i have found out today that i am taking a paycut to the tune of £6k per year i am in a commission based job and they have changed the pay plan. I have a loan with Santander at 2.9% apr. I owe £11000 on it and i have £11000 in my isa. This was for a car that is also worth around £12k. The cost is £235 per month over 5…
Need some capital.. have very good cash flow history on biz bank account over last years
Hi there Sorry if this is a basic question but I've been out of the UK for 3 years and haven't really had much communication regarding banking and what not.. I have a very good cash flow biz that is doing about 5,000gbp+ per month profit... but there's maybe triple that coming in and out for costs and what not.. So I was…
Mortgage Overpayments
Hi, Please can I have some advice on mortgage overpayments. I paid £20k off my mortgage (max amount I can for this year). They have adjusted my DD automatically for a lower amount. With so many transactions, bills etc the difference from my previous DD will just get lost making the overpayment redundant. Can I increase my…

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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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