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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'.

Can't claim Student Loan refund
Hi, Student loans company keep sending me letters saying they owe me £177 which i overpayed in Student Loan. They send me a letter with a phone number to ring. When i ring the number, the Phone-bot says it has sent a number, and asks for this to be keyed in...however, i dont have a smart phone, so i cant get to this number…
PCP plus Gap Ins Plus Tyre and Alloy ins Plus Minor Damage Plus Fabric and paintwork protection
Son has been for a pcp quote at a dealer for a 3 yr old car and all the above ‘optional extras’ were quoted adding £40pm to a £230pm quote. Are any of the really needed or just a commission earner?
Nvl car leasing
Hello all NVL leasing ltd looks like a relatively new company and just wondered if anyone had leased a vehicle from them successfully? Can’t find much on them. Have awful credit and been accepted by them but no paperwork was sent across to them prior to acceptance - no bank statements or wage slips. They have asked for a…
Recommendations for PCP finance deal brokers.
Good evening, Looking for some recommendations regarding PCP finance deals. My wife and I are looking to replace our car with a nearly new used car on a PCP finance deal. Most dealerships are offering finance with around +/- 10% APR. After a search online it seems there is not many companys willing to do a PCP contract for…
Advice needed - Loan that wont kill my mortgage offer.
Hi All, I am hoping one of you may be able to suggest a solution to my problem. I had an offer accepted on a new build using help to buy back in June but as I have one default on my credit report from 2017 I wasn't able to go with a major lender at the time. My mortgage company took 8 weeks to approve my mortgage and so…
Student for 3 Months - Pay it off?
Hello, I was an English student in Scotland who dropped out after only a few months in 2017. I have enough money in savings to comfortably pay off the Student Loan in full. Should I do so?
Being Charged For A Student Loan That I did Not take out
I have never taken out a loan and have never been to uni. I started at the NHS in June. I worked in a care home before, so I’m used to not being paid properly, but this is too much. Payroll says: Oh, you probably filled the form wrong. Nothing we can do, ring HMRC HMRC: Okay, it should be sorted on your next slip. Any…
Car loan
Hi, I am thinking about changing my car and the finance on it finishes next June. Am I better waiting until then or would it not make much difference?
GoFundMe for loans?
Hi, Does anyone know of a service like GoFundMe but for loans? What I'm after is a peer-to-peer loan service but one which allows individuals to seek funds for arbitrary projects / causes. It seems like the peer-to-peer market has gone through a consolidation period over the last few years, and all the UK peer-to-peer…
Santander overdraft- they say not as costly
Hi I’m with Santander and have an agreed overdraft and when I enquired recently what the monthly overdraft charge would be for a nominal £1000 over one month, the bank said it’s 39% but that’s annual charge so divide by 12. Anyone able to share what £1000 per month on the 123 lite account would charge? Many thanks
Elderbridge
I made the mistake of taking a £65,000 loan out with Barclays first plus loan back in 2006, to consolidate and make home improvements. We have tried to move house but at a final stage we were informed that Elderbridge would not permit the move, on top of that Elderbridge are keen to raise payments in line with the interest…
Live in my partners house, whats my status?
I live with my long-term partner, we aren’t married, but basically are in all but name, she owns our property outright and i don’t pay her any rent. So confused on the question on loan applications re your residential status.. i’m not a tenant as i don’t pay rent and don’t want to put this obviously, as would need to put…
NatWest loan approval process
Hello! We applied for a joint home improvement loan. We were sent the electronic agreement yesterday and we both signed it and it asked my partner a couple of questions about his address history. No questions for myself. We both signed it online. Im just wondering if anyone knows what the final checks are and what they…
Not getting offers with very clean file
My bankruptcy recently fell away from my credit files, yes have checked all of them, and its now super clean, have paid all my cards religiously for 6 years as well as phone bills etc.. naturally all the ‘scores’ went through the roof once the BR fell away but i’m not getting any offers from a couple of searches..in fact i…
PCP or buy outright?
I'm in the process of looking for a replacement for my car as it's getting more expensive to keep running. I intend to keep the car for a number of years, well past the duration of any finance deal. I'm trying to decide if it's better to buy it outright up front, or to take advantage of dealer contributions (£1k-£2k…
FOS High Interest Loan Complaint
Hi all, Just looking for some community opinions. I recently had one complaint for a High interest loan upheld by the FOS so I decided to make another one for a second High Interest Loan taken out around 4 weeks before the upheld one. This one has not been upheld by the adjudicator and is now going to an ombudsman. One of…
Statute barred loan
Hello everyone, I'm looking for an expert opinion on an old payday loan I had from MyJar. On the 15th August I recieved an email from MyJar about an old loan I took out with them, (which I defaulted on many years ago, they went into administration in 2020) and a followup email from the debt collector on the 25th August…
Guarantor for loan
A family member has asked me to be a guarantor to enable them to get a loan. What are the risks for me if I say yes. Thanks
Klana - no discount alllowed
Two different retailers have told me the instore or online discounts can’t be applied if paying for goods via klana. Why is this? It doesn’t feel right that people needing to spread the cost over longer are penalised and need to pay more than someone who can pay that day. As if that’s the case it’s not really interest free…
Equity Release Heartbreak
We lost our dad just over a year ago and as our mum has dementia we took over as power of attorney. In May mum had to be moved into a carehome so we have put her home up for sale to cover carehome costs. We found out that in 2005 our parents took equity release with Scottish Widows of just under 35k and the repayment for…

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MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
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.

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