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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'.

Bridging loan for park home?
We’re selling our house and moving into a retirement park home site, we’d like to buy the park home first because it needs work, and put our house on the market at the same time, so we’ve got somewhere to live whilst the work is completed. There are no mortgages involved, we don’t have any loans.. Our bank isn’t…
Payday loans
Hello all. I’m wondering if you would be able to advise me. I fell out of work for 5 months in 2017 and took out payday loans to pay my credit cards debts so they wouldn’t go against me. By the time I got back into work my debt doubled. I just want to know would I be entitled to a refund from the creditors? The creditors…
Withdrawing from car finance during cooling off
Hello just picked up a new car on finance from a dealership 6 days ago. Haven’t been without a car for a few weeks prior I’m not sure I really need and want to exercise my right to withdraw whilst I’m in the cooling off period. I’ve spoke to the finance company and they say that’s fine but 1) I’d still owe them the money…
Advice needed on some consolidation of credit that has backfired.
Hello, looking for some advice on a position I've found myself in. I currently have a car on finance and have owned it for 2.5 years at £322pcm (HPI). Because the UK is going through a difficult economic phase I decided to reassess my finances and as I have paid more then 50% off the finance I decided to initiate voluntary…
Trying to create a legal promissory note to repay husband due to a hurtful comment made by him.
I wrote a promissory note last night using various free legal resources and tried to make it as professional and legally binding as possible. This is because my husband implied last night that "I live off of his hard work and salary" and that I don't pay for anything of high value (he paid the house deposit, our dog,…
Using inflation to my advantage?
So looking at the loan deals and ISA deals on this site in theory I can borrow £20000 at4.9% APR (my credit score is excellent) and invest in a 3 year fixed ISA at 3,71% annually, Assuming I can make the repayments would I not benefit from doing this and then at the end of the three years pay off the loan as the rate of…
PCP Advice
Hello,My son had his motorbike stolen and was on a PCP deal. The insurers are paying out but there is a £2k difference from what he's getting vs what he owes to settle the agreement. Can he use the money to purchase a bike to the value he receives and carry on paying the pcp for his stolen bike?Or does he have to settle…
British Gas boiler finance.
Edited by user
Two personal loans (one for myself, one for my husband)
Hello, I am intending to carry out some home improvements and have the following questions: 1. If I were to take out a personal loan in my name, would this affect my husband being approved for a personal loan in his name? Myself and my husband have a joint mortgage and joint bank accounts so it's tricky to know whether the…
Debt advice
My son died 18th January 2016, and as far as we were aware, we sorted his affairs. I remember him having a payday loan (can’t remember the name) which they wrote off when we sent them the death certificate and we’ve never heard from them since. Fast forward to today and out of the blue we’ve had a letter through the post,…
BNPL VERY
Just looking to buy a new laptop and notice VERY offer but now pay later. I do have the monies to buy the item straight away but am intrigued by the BNPL as it offers 20% off if I use BNPL. It looks like I can buy the item, ever the credit agreement but then pay it off straight away (saving me 20%) - seems too good to be…
Is it worth paying off end of loan early?
Hi guys, apologies if this is in the wrong topic. I took out a loan in 2018 at 19.70% APR. It was for a car, and I had no credit history to speak of until the loan. Original amount was £5,000, and I am now down to £608.97. I am in the fortunate position that I could, in theory, pay this off in full now. I haven't yet…
Welcome finance
Hi all I'm looking for some advice. I took out an unsecured loan around 2010 with welcome finance. Can't remember how much for. A couple of thousand maybe. I have been making payments of £22 per month for around the last 9-10 years. I no longer know who has this debt not had a statement for a few years so don't know how…
CCJs and Joint Property
A relative has a joint mortgage on a house jointly owned with his ex-girl friend. Subsequent to their breakup, she took out a loan but due to circumstances has defaulted on it and has a CCJ awarded against her. The creditor wants full recompense and is going after the house which is the only asset she has. Can they do this…
Loan via lendable
My maths is sketchy at best so I am hoping someone can help. Back in early July, I took out a £10,000 loan via clearscore - lendables to consolidate debts. The agreed amount I would pay in total was £13,030.17 over 36 months. This amount is the sum of: (i) the Loan Amount; (ii) the Loan Fee; and (iii) the interest payable.…
Had a loan refund cheque or part of your balance written off out of the blue? Let us know
Hi everyone, Seven lenders have agreed to pay out £12 million in compensation to some 60,000 struggling borrowers, financial regulator the FCA has announced today. But the regulator is being tight-lipped about which lenders are involved, so we want to know... * Have you unexpectedly had part or all of your loan balance…
PCP/HP, dealer contribution
I have found a car I like, have saved enough to pay outright, £21.5k Dealer site offers £500 contribution of taking their PCP or HP finance. I'm thinking of taking one of these options for the £500 contribution, then paying it off straight away. Would that be allowed, and would it work? Thank you
Credit account commandeers cash refund
I have a credit account with Very/Shop Direct. I had approximately £820 balance of credit purchases. I bought a large item for £600, which I paid in full (not on credit). Returned the item as it was faulty. Faulty returned accepted and I’m told a cheque will be sent for the refund. No cheque arrived. I queried this and…
getting a loan is the problem - any solution ?
Not sure whether this is a loan or a creditcard im after. Homeowner ( with mortage ), i have 4 credit cards, approx £9000 worth of debt -paying interest. Bit of a mess. Cannot get a loan, i assume because of the 4creditcards, used to , and never had issues paying back , tesco, sainsburys etc loans. So - ideally, a loan of…
Loan for New Car
Hi all, I’m posting here on behalf of my wife. She wants to buy a new second hand car, the one we have seen is pretty good condition, low mileage 2010, £6,700. We have put a holding deposit on it of £250, this lasts until Thursday. She wants to get a loan of about £6k to pay for the car. She’s had several offers but of…

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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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