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Paying off loans - effect on credit score
Hi I have two loans. One 10k one 7k. I plan to pay off the 7k one and then reschedule the 10.5k at a lower rate. I've built my credit rating to Excellent with Experian and via MSE and Good with TransUnion via Creditkarma Next year I plan to take out a car on lease. I're read that paying off a loan can affect my credit…
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Exiting a PCP finance deal
Two years ago I bought a new motorbike on a three year PCP deal. I would now like to exit the deal early and give up the bike but I'm feeling trapped. I can't sell the bike privately and use the proceeds to settle the finance because I'm not the owner, the finance company is. They have provided me with a settlement figure…
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First plus secured load to Elderbridge
we had a secured loan with first plus taken out in 2007. we paid this regually then suddenly they stopped taking payments. we inquired about this and was advised that first plus had folded and the new company would be in touch. it is now 2022 and we have heard nothing since we recently applied for equity release and it…
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Is Now A Good Time To Take Out A Loan?
I have a few credit card debts currently on special balance transfer 0% rates that will expire early 2023. Normally I would just apply for other 0% credit cards to transfer them to, but the offers and suitable credit limits available to me seem to be dwindling, so I’m thinking of taking out a loan to pay them all off. My…
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When are my student loads written off?
I have 3 student loans: 1 with Erudio, which started in November 1999 2 with Thesis, which started in April 2001 I started University in September 1995, took out loans with the SLC over a number of years which have then been transferred to these companies. Not sure of the actual dates of the loans but I was a full time…
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Are Bounce Back Loans repayable on death ?
My late husband took out a BBL with NatWest for his sole trading business. We had started to pay it back when last October he was diagnosed with terminal Brain Cancer. From that day on he was unable to work and so the business closed. My question is - as it’s an unsecured loan , is it repayable on death ? TIA
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Quote disappeared on MSE, Experian after getting personalised quote from lender?
Hi there, I recently used the MSE and Experian loan eligibility checker and I was pre-approved for a loan with RateSetter. I then got a personalised quote from RateSetter (with a slightly better interest rate) which will expire in 28 days, but since then the RateSetter quote has disappeared from the MSE and Experian loan…
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Secured loan on credit file as unsecured
Hi, I have recently took out a secured loan (10.5k) via my credit union, it is secured on savings that I have to the same value. It is showing on my credit file as an unsecured loan. Will this have any negative impact on my file or does it not matter either way ? Thank you in advance!
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Torro funding- Liverpool.
Anybody heard or used this lending company. Looking into releasing equity and this company was suggested to me by a "sourcer". Any ideas if it's legit or any reveiws/experiences.
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Low income dog walker needs to replace car
My son runs his own dog walking business. The old Berlingo
that he bought in October so that he could take on more business further afield
has broken down and had to be scrapped, which has put him in a dilemma. He’s
got some money to put towards a replacement but is over £2000 short. Although he’s been making better money…
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Thinking about APR vs Inflation
Hi. I am buying a new car and ordered it some months ago when the APR on the Personal Contract Plan (PCP) finance package was 4.9%. That was locked in and will be the rate I pay for the next 3 years if I go ahead with the finance option when the car arrives in a few weeks after the long delivery lead time. Obviously 4.9%…
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Salary to afford £70k loan
Hello, I am interested in taking out a loan (secured I think?) for £70,000 either now or sometime in the future. Current house purchase price £462,000 Valuation by bank: £475,000 (we knocked some money off the agreed price for works following survey) Mortgage debt: £392,000. Monthly repayments: £1685 No dependents No other…
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Looking for loan lender with integrity!
Hello, Looking for a loan and have looked at the comparison sites, as well as the MoneySavingExpert Tool. One company that I had a 100% guarantee for, when I clicked on the "Apply Now" link, sent me to a "page not found" page. I then went direct to the website for which that deal was not present!. Then tried the MSE tool.…
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Natwest Loan
Hi Should I investigate this with Natwest and/or financial ombudsman? I took out a loan in Oct 2019 for £35,000 over 10 years. My monthly repayment is £566, and this has been paid on time every month, with the exception of a payment break for 6 months during covid, extending the payment period by same timeframe. In effect,…
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Car Re-finance loan - singed twice no action
Hi All, In Feb this year I have signed a refinance loan for a car. My PCP was ending in May so signed it then when APR was low to refinance the ballon payment. All done, contract signed. Note said it will start a month from date on this agreement or month after last PCP payment which ever is first. PCP ends 17th May no…
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Daily Compound interest
Desperate for help again - My fil is self funding his care home fees but has almost run out of savings.The council's Deferred Payment agreement says that the interest rate will be 1.5% compounded daily. Can anyone work out the cost per month/year if the fees are £850.00 each week,please. If I'm right this could be a lot of…
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student loan overpayment
SLC have contacted me about an overpayment that needs to be repayed separately to the loan balance... I had just been paying it with an extra direct debit a little each month but i closed the account and also as I am an umbrella contractor they are rinsing my main balance repayment based on my inflated umbrella rate so im…
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Student loan, not used, what shall I do
Hello, I have been approved a doctoral student loan for 27k, and I do not NEED it. Sure 8k rather than the full 27k would help with living expenses but I have made changes to my life such that I don’t need the loan after I made the changes. How should I use this effectively? Or do I simply cancel the student loan and repay…
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Looking for Advice - Going Round in Circles
I applied and was approved for a loan with Santander via a third party website (Experian etc). I followed all the steps, eventually received my activation code through the post, logged to the portal, submitted the code and received a message stating that the funds would be released within two working days. A week later,…
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Short Term Car Finance
Hi, first post and I’m wondering if somebody could give me a bit of advice please?? I’ve got a PCP at the minute on a car which is due to go back mid-October. There is around £10k of positive equity in the car so I’m wanted to sell it and settle the finance (we buy any car etc.). I already have a new car in order which is…
