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Novuna Personal Finance
I recently signed a credit agreement for a new kitchen from B&Q. Delivery expected 2nd August with installation booked for a couple of weeks later. The credit agreement stated first payment will be taken one month following the date of the agreement or, if later, the date of supply of the goods/services. They have already…
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Family member loan
Hello! My dad has very kindly offered to lend a family member some money (less than £1,500) Is there any paperwork he can give to be signed to say that the loan was given and the repayment terns? Would it be binding? (Ie, if they don't repay and dad goes through small claims would it be sufficient) It's not a huge amount,…
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First time buyer
Good morning, I am looking for some advice please. Thank you
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Approx how much to set up a charge on a house, IE loan to children/family.
My sister has been telling me about loaning around 100 to 15ok cash to her son who is married and has a property. The mortgage was about 350k taken out about 4 years ago and the fix comes to an end in about 10/11 months. The property value is approx 650k (I've done my own research and I think that is a conservative figure.…
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Loan and Invest?
I have some money from the proceeds of a house sale and I was going to buy a motorhome and then invest the rest. I’ve found a motorhome now, but I don’t know whether I should use my money or get a loan and invest my money instead. I’ve been told that now is the time to get a loan with the low rates, but the benefits, if…
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Loan via Deferred Payment Scheme re Care Act
I'm not sure if this is the right section to post this, but.... I'm just wondering if anyone has, or knows someone who has, applied for a loan via the Deferred Payment Scheme, which is an aspect of the Care Act, and been refused or even just had their application knocked back at the start. Basically, you can borrow money…
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Locating a borrower and claiming the debt.
I lend a friend several thousand pounds nearly six years ago via bank transfer. He promised to repay me a specific amount per month. I have the bank records and the text messages as evidence. He repaid me one payment then skipped town. I've recently found out via social media that he's back in town but I don't have his…
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Payslip/Bank Statement Loans
It seems all loans do some sort of credit check on you (even though they may advertise that it is a 'no credit check loan') Are there any loans/payday advances where you send across documentation of payslips/p45/p60's over performing a credit check? It seems all the ones showing to me perform credit checks. I remember…
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Overpay Debt or Increase Pension Contribution
I have a personal loan with an outstanding balance of £27500, 45 months left, £718/mth, which is manageable at the current time. If I overpay £100 a month I save £39 in interest, according to the banks’ loan calculator. I am guessing that is over the term of the loan. I am 58 this year so looking closer at my pension pot,…
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Irresponsible lending
Not sure if this fall under irresponsible lending or not so wanted to get some opinion's… I applied for a £25,000 to consolidate loans. I was pre-approved for this through credit karma. Anyway, long story short I ended up applying for it twice and ended up with £45,000 in my bank about 24 or so hours later. No proof of…
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Identity Fraud
Someone opened an account with Sainsbury's Bank fraudulently in my name. They took out a loan of £25K. I have contacted Sainsbury's Bank and they have acknowledged this was fraud. Therefore they agree that I am not liable for the loan. I have no idea how the scammer convinced Sainsbury's Bank that they were me and live at…
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Money Draw Down
HiHave a property which I bought around 6 years ago. I'm assuming it's worth between £110000 to £115000, at the moment. Its owned out right. I paid cash when I bought it. I'm trying to work out the easiest and cheapest way to draw down some money. I'm 67 and my Wife is 62. Any advice would be most welcomeIan
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Struggling to pay business BBL
Hi all, As the title says, I'm struggling to repay a BBL I took out. I was self employed and I had to close my business due to the pandemic and ill health. I have now missed one payment and I really don't want it to spiral out of control. I've read that missing payments on a BBL won't affect my credit, is this true? Is…
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Loan debt
I'm being chased for a loan debt by a third party, the letters state that its a second mortgage. However I know for a fact it was a personal loan and the company has gone bankrupt. I took it out in 2005 and was miss sold it and made a claim against the company before it went bankrupt. I don't have any documents but I did…
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Family loan gone wrong
My parents helped out my cousin, and they have now defaulted on any type of repayment plan. Around 12k, we have proof of repayment (sporadic) Option one: Forget about it...don't get the money back, irrepreble damage done Option two: Court, get the money back (hopefully) but irreprable damage done My question is (before I…
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Writing of student loans - mortgage style
I have mortgage style loans from 1997 onward. The 1997 first one taken out matures in October this year. It is listed in my Erudio account as 4 separate loans, am I able to write off each loan individually or do I need to wait for all of them to reach 25 years?
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Consolidating debt with mortgage - refused
I don't want to get into how I got here but basically I'm in too deep on 3 credit cards totalling £27k. We have a Nationwide mortgage of £90k on a property worth £300k with few outgoings other than the humungous CC's so with such a low LTV I thought it would be no issue consolidating but Nationwide said no. Call me cynical…
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Trying to understand whether a personal loan or car on finance is "better" for remortgaging...
Hi all, Apologies if this is very obvious, but here's my situation. TLDR at the end. I've been on a fixed rate mortgage on my own this last year, a 2 year fix, ending next year. During this year due to a combination of buying essentials for the new house, getting out after the pandemic and overspending as a bad way of…
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Affordability Criteria for Landlords' Income
Dear Forum, I receive a standard Govt pension of some £10K and - as a self employed landlord - also receive a comfortable £25K to £30K net income (ie net of mortgaging and other costs) from five (5) B2L properties. I subscribe to MSE's Credit Club which gives me a "999" credit rating but only a "Very Weak" affordability…
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Consolidation Loan Basic plus Commission
I've just applied for a consolidation loan with Nationwide, but they've informed me they'll only consider my basic income and not my commission. I earn around £2k basic wage, but more than double that in commission per month. Are there any unsecured personal loan providers that consider total income? My mortgage provider…
