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How will taking out a loan affect my chances of buying a house?
Hi everyone. I don't really want to go into the why's and wherefore's, but I am considering taking out a loan for £7000 at 3.3% over 2 years. The crux is that my wife and I are hoping to buy a house in the next 12-18 months, so I will probably have paid back at least half the loan before we start mortgage applications but…
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Car Finance cash back, how does it work?
Hi, my friend had a call from car shop saying that she could have 3k cash back as her car has 2k left to pay on it and they say the car is worth 5k. Can anyone explain to me how this cash back system works? Are you just adding another 3k to your existing car finance? So in turn giving yourself more to pay off again, thus…
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Ikano loan
Hi I was hoping for some advice. We purchased a hot tub last year for £5000. Initially we placed a £2500 payment down. The outstanding balance could then be paid at any time over the next 12 months interest free. It then accrued interest after this period. The 12 months ended on the 12th March and I paid the balance on the…
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Student Finance Loans repayment
Hello, I'm graduating this year with circa 40K in cash and an additional 10K in LISA stocks and shares. I have a job lined up where I will start on 28k and in 3/4 years will be on 50k. It is the public sector, so I don't expect my salary to rise much above 50k in the long term. £50K from parents/grandparents and working,…
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With the difference in terms and charges, should post-graduate loans be paid off if possible?
My adult offspring have both used student finance loans to cover the fees for their Masters in the past few years. I know that the advise is generally not to repay their under-graduate loans, but I believe the terms of the post-grad student finance are different and so I am not sure if the same advise applies or even…
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House Loan advice please
I'm retired (66) and I would like to move from my flat to a bungalow, I don't have a massive amount to buy a bungalow at their price, but I can put savings into it, and rather than skint myself I would like a loan of about 20k to reach a target price. I can repay a loan of up to about 20k over 10 years, or less, with my…
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Support for old loan
In 2005 I took out a personal loan. Several years later I defaulted on it and it was sold to a 3rd party company, which has changed several times over the years. In 2019 the 3rd party changed again and I have made no payments since . A new company saying that they are acting on behalf of Lloyds have now contacted me saying…
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QDR solicitors
I recently paid off some outstanding debt with a small windfall that I got (was all spent on this). Soon after I received a text from QDR stating I owed them money for payday loans that I did not pay from 10 years ago. They just tried to call me on this. The only thing i have done is log into their website, I have not…
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Provident Group
I received my letter of settlement from Provident Group, which breaks down as follows Loan Info Initial Loan £600 (affordable) Subsequent loans X9 (unaffordable) - total value £4K Outstanding balance - £1000 (three loans - which I was not aware of) Outcome Payout - £0 Outstanding balance - Cleared Now I am not sure why I…
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Amigo loans vote
I have received an email saying that I can vote on Amigo loans but I really don't understand how I should vote. Any thoughts?
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Loan application after coming out of Stepchange for a lower interest Rate
Hi All I'm new here so I'm looking for some advice, I have a car loan with Moneybarn at 19.9% Apr and I'm almost a year clear of any debt and out of Stepchange and I'm trying to building up my credit rating, so this is what I want to do, I want to switch the the car loan to a lower APR so I have now received my settlement…
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Loan payment reference
Hi, What is the loan payment reference? I supplied my loan account number to x but they are asking for my loan payment reference...is this the number that shows up next to the direct debit payment on my bank statement? Many thanks P
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Early settlement fee from M&S Bank
I took out a personal loan of £12000 for 24months with interest rate of 2.8% on Jan5th 2022. The loan is for home improvement, but my circumstances were changed and I want to pay back the loan. The monthly payment is £514.52 and I have paid my first monthly installment on Feb5th, when I called customer care to get the…
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High interes loan
We took out a 2nd loan against the house many years ago. The losn amount was 50000 and it was at 12% interest. We know it was not agood decision but we were poorly advised and were kind of desperate at the time. We have a few years to go and it is 500 per month which is a real strain on our monies. The interest rate has…
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PCP with apparent low income
In the past I have
purchased cars with cash and run them for several years. I am now
retired and looking to move to an EV car. I intend to purchase
using a PCP. My thinking is that the technology continues to evolve
and I do not know what the residual value of EV is, so I can to some
extent protect myself from those…
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Personal Loan to Buy Land?
Hi, Im a first time user to the website but need some advice. Im looking to buy about 2 acres of land to put my daughters horse on. Can I use a personal loan to purchase the land?
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Ombudsman case
Hi, recently won an affordability complaint against a company called TM Advances via the ombudsman. They were told to get in contact with me within 28 days to arrange compensation and also to remove any negative credit report from my file. Its now gone over that timeframe and the ombudsman service just keep telling me to…
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Bounce back loan over charged
Hi there I'm new to the forum,I took a 10k bounce back loan for my company as I couldn't claim any thing from the government grants that was offered at the time and due to the pandemic and my company being ltd.Ive been paying the monthly charges by direct debit no problem not missed a payment but my payment that Barclays…
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Confused about loans
Hello, I have a question about small loans. Earlier last year, I took out a small (<£1,500) interest-bearing loan with PayPal. Later the same year, I bought an item online, on which a deal of interest free credit from PayPal was being offered, so I went ahead. As these were separate transactions, I expected them to be…
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I need advice, going to ask for my first loan
Hi, I am going to ask for a loan for the first time. It is for personal reasons and not to buy a house. Soon I will move to a different address (I have been at current one for 3 years +). Could this affect my chances to get a loan? What would be the best thing to do?
