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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'.

SLC Postgraduate Loan 2016-17 Interest Charges
In 2016 I received a Postgraduate Loan from the Student Loans Company (SLC) for a 1 year full-time MSc for the academic year 2016/17. This was the first year that such a loan was made available. I graduated in December 2017 and was in full-time employment earning above the minimum repayment threshold in April 2018. Section…
Right of Withdrawal on Loan Agreement : Credit file query
Hi, I took out a loan but my circumstances changed and luckily I was still within the right of withdrawal before the end of 14 calendar days from when the loan was taken out. I paid the loan I obtained fully back the next day after I notified them of my intention to withdraw from the loan agreement. How should this be…
My Address has been used fraudulently for a loan
Hi I opened some post today and found that one of the letters was not for me, but from a debt collection agency called Merligen in another person's name but using my postal and residential address. I have lived at my address for over 20 years and my husband's mother lived there before that for at least 20. No tenants or…
How to calculate a loan interest precisely ?
Hi All, In 2017 I had a 15K loan from Sainsbury's which advertised for 2.8%APR but they pushed it up to 8.1% for 3 years which they deferred the payment to two months later ( I did not ask for it ) and I thought it was free as they said it's 36 payments ( good trick for my ignorant ) with payment of £474.88pcm.which I, as…
ICL SCHEME - Payday loan
I only discovered my cheque on 24th May,2021 from ICL after the Ist December, 2021. This money relates to reparations from unaffordable payday loans. The cheque was only valid upto 30th November, 2021. Long story short – they have refused to issue a replacement cheque to cover that amount. They already accepted liability…
Home improvement finance
Hi, I’d welcome any advice on my situation please. Sorry for the long post, I’ll bullet point as it may make it easier than me writing a novel ! Bought house in April 2018. Always knew the house would need extending and improving. April 2020 remortgaged with a 5 year fix. Intended to overpay each month by £500 for 5 years,…
Worried about a loan from my parents
To explain I have a trust deed which is due to finish shortly. I cannot get credit for a loan. My parents took out a loan and gave me 6.5k to buy a car. I require a car for my disabled son and there is no way we can survive without one. My wife said we may have declare this for tax purposes. This never crossed my mind and…
Used Car and Part Exchange gone wrong
Hi, I need advice as my recent car purchase has gone terribly wrong and can i now get a full refund as the main fault in dispute was discovered and reported just before the 30 day period... Just bought a 26K Audi A6 a month ago, on collection day all seemed ok and went well initially until i got home and discovered the…
Creation Finance
Hi, i am trying to make an online payment to Creation Finance (Currys Purchase) for the past few days, but it says their site are down. I am not on the phone for over a half hour waiting to talk to a representative to see what is going on. Is this happening to anyone else. They are a complete disaster!!
Creation Finance Nightmare
I bought a new TV on Currys/PC world a few months ago using their finance deal and I've had non stop issues since - Their direct debit system does not work, even though I have everything set up correctly, and if fails to take my money on the due date like it says it will on their own website - and now every month I'm…
Pre-selected mean sweet FA!
Just been awarded higher rate mobility for PIP. Rather than use my award to get a car I'll never own, I decided to apply for a loan after seeing "You have been pre-selected for a loan of £45000" Applied for £10000 and didn't get it. Do I have any comeback against my bank?
Secured Loan - Black Horse secured loan sold to IDEM Servicing
Hi folks Looking for some advice on how to deal with IDEM Servicing - had a secure loan with Blackhorse who sold the debt to IDEM and am now owing 4 times what the original loan was for. I've had issues paying the debt but tried to ask for a settlement figure to be told they don't do that - I need to repay the entire…
Loan eligibility
Hi, I did a loan eligibility search via the MSE calculator and there were 2 that said 100% eligible for an 18k loan (pre approved) one with Zopa and the other with Admiral. I earn just over 46k (plus up to 2k in bonuses and odd bit of overtime, which I didn't include) but for various reasons I owe 18k on credit cards which…
Split Tariff Contract on Mobile Phone AKA Unsecured Loan
I entered a Split Tariff contract with O2 in January 2021 and consequently the cost of the handset shows as an 'unsecured loan' on my credit report. I am looking to buy a house sometime in 2022. Will it improve my position in terms of credit score/chances of a better mortgage agreement if I pay it off in full prior to…
Should I ask to have a loan removed from my file if it was missold?
Hi, I had some success claiming from high interest Bamboo loans I had a couple of years ago. They agreed to repay the interest on a number of loans I had with them. I did pay these loans on time, and in full so I haven’t asked for them to remove any traces of the loans from my credit file. Is this the right move? I’m not…
Repaying loan arrears
Good morning! As with many folks I had to take a payment break on my car finance repayments during covid as I had lost my job. This led to several months of arrears building up, about £1000 total arrears. These arrears now need to be paid but I cannot afford to pay them just now, I can still manage the usual monthly loan…
The end of an Interest Only mortgage?
Hello Here is my situation; - 60 years old - £200k interest only mortgage (Santander) - expires in 4 years - Home worth approx £400k - No endowment to cover So I was wondering if I did absolutely nothing at the end of the mortgage term, would Santander move to repossess the property immediately? Given my age and earnings I…
Charge on property - no account number (Endeavour Personal Finance / HSBC)
I am currently selling a property which I own my ex-husband and the title deeds have shown up a second charge on the property for HSBC. Following some digging I have been told the original charge was placed by Endeavour Personal Finance in 2007 (Endeavour went bust several years ago and HSBC took on their loans according…
Missed Payment Rights
In April last year I took a covid payment break from my mini financial monthly loan. At the time they told me to cancel my direct debit. Following a 3 month break they wrote to me and said my monthly payments would be reinstated and I took the option to add the payment break payments at the end of my agreement. Since then…
Merged: Hoist financial
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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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