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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'.

best home improvements loans
I recently bought a house 4 bed detach and I would like to make some improvement to the house. A top to bottom improvement which I believe will cost me around £70k ( transform the conservatory into extension, take down the wall between kitchen and diner and create an open space kitchen-diner, change all flooring, change…
Bounce back loan advice
I am filling my self assessment form and am unsure where to declare the bounce back loan amount? Is it business income?
Mortgage application with payday loans
Hi everyone, Around 10 months ago I took out a loan of £2000 with likely loans. Then 3 months later I opened a credit line with Drafty, of which I used £400. I have paid and closed my Drafty account and have 2 months left on my likely loans repayments then that will be settled. Do you know if these loans are automatically…
Understanding Student Finance Monthly Interest Rates
Hi I am trying to understand how my monthly interest rate has been calculated below is a example of 2 months where interest has been added: Please view in web view to see below more clearly: Date Transaction Description Debit (£) Credit (£) 06/04/2018 Opening balance 33010.84 0 30/04/2018 Interest 3.10% 95.95 0 31/05/2018…
Personal loan after mortgage completion
I’ve recently purchased my first house, and some unexpected additional costs have come up so I’ve been looking into getting a personal loan. I’m not yet living at the property (and won’t be for a little while yet, I’m still at home with parents), and the APR and interest rate on the loan I’m mid-way through applying for…
Is this possible
Hi all looking for advice… I have not been working for past 5/6 years as I ended up caring for my mum.. she has now past away and I have been left with a house worth £330000.. I have seen a campsite and country pub for sale with a turn over of £350000 per year for £900000 .. I have a poor credit score is it possible for me…
Ex-partner stopped paying joint loan
My ex-partner and I had agreed he would pay his half of the loan payment into my account each monthly until the loan balance was paid off. He has stopped these payments and I can't get in touch with him any more. The bank have said there is basically nothing they can do. What do I do?
Multiple Cash Withdrawals Showing On Bank Statement Applying For Loan
Good afternoon, I'm just looking for some advice, I currently have a case with the Financial Ombudsman due to Unaffordable Lending claim against a loan company. This loan company requested to look at bank statements prior to issuing the loan. At the time of me getting the loan and the reason for getting the loan was…
Martin: Student loan costs may rise £400/yr
Martin Lewis has AGAIN warned the Government against possible retrospective changes to the terms and conditions of existing student loan contracts. In a new video, the MoneySavingExpert.com founder responds to reports of a possible shake-up to student loans, which could see the earnings threshold you start repaying at cut,…
Unsecured Borrowing Lending Criteria
Hi guys, I am curious to understand a bit more about banks and their lending criteria. I understand that debt to income % amounts are very important but I suspect there maybe a total borrowing to yearly income ratio with banks? in theory I should be able to lend a substantial amount of money based on the traditional debt…
100% eligibility on soft search
So I’ve applied for a loan at Sainsburys (who I’ve read are notorious for declining people). I’ve been 100% approved on ClearScore for a Nationwide loan, and 60% for a Sainsburys loan (much better interest). however on the Sainsburys website, I’ve pre applied with a ‘soft search’ and it’s 100% likely to approve me. anyone…
Will a loan affect my remortgage
Hi All Bought a new car recently with savings 18k, now I would like to get a loan for this to put the money back into my account. But debating to do so or not. reason being I have 10 months left on my current mortgage deal, and don’t want to affect anything. Do you think this would be a problem or is it looked at on…
Loan to pay off second charge?
Evening, so our situation is this. A few years ago we needed a loan fast and due to my husbands circumstances we ended up taking out a second charge secured loan on our house. The interest rate was far from ideal but acceptable. Fast forward a few years and our situation is vastly better and I want to get rid of the second…
Loan + Interest?
I got a loan out over 10 years ago where I had some sort of account with the money in (maybe they put it in my current account, I can't remember), but the interest was already calculated, so I simply had to make the minimum payment per month (or could pay any amount over). Is that how loans are still done?
Car PCP Agreement - Payment On Weekend
Good Afternoon, I have recently taken out a PCP agreement to pay for a new car. My first payment was due today, Saturday 9th October. When logging onto my internet banking to check if this payment has gone, the money has not been taken. I have then logged onto my finance providers website account and it it showing that I…
Second Charge Loan with Declaration of Trust
Hi all, hoping someone can help. My wife and I are in the middle of applying for a secured loan on our property to consolidate debt. It's very much last resort for us, but I have a poor credit score (from mistakes that I made years ago that I am struggling to work my way out of) and as a result we're applying for a loan to…
Car finance. How to transfer into my business name?
Can any one help or offer advice. I took out a car finance in my personal name a couple years ago. Since covid my business partner and I decided to cut costs, so decided to sell our business vehicle and use our personal cars for buisness use. My business pays the finance payment for my car as it’s mostly used for business.…
Self Build Mortgage Difficulty
Hi - we are coming up against so many brick walls for a self build mortgage and are living on the land we bought 6 years ago in our tourer caravan which, as we are both in our 60’s, is challenging. We are needing advice for any assistance in sourcing a loan for £180,000 until the build is complete (end of next year if we…
Finance Repayment Obligation
During the purchase of a new bathroom I took out interest free credit with monthly repayments over 2years (Barclays Partner Finance). Direct debits should have commenced from January of this year but I’ve just discovered (10months later) they’re not coming out. I believe I enquired about this in January and was assured…
Bit of a pain buying a car...
Long story so please bear with me... Saw a car I liked for £6500 so applied for a loan for £7500 with nationwide as get a better APR at £7500 than £6500, was intending to pay the extra £1000 straight off the loan - turns out the car could not be supplied as described by the seller ( a used car seller) due to the…

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MSE News

Sainsbury’s Bank customer? NatWest takes over this week – here's what it means for savers and borrowers
Sainsbury's Bank's savings, credit cards and loans will be taken over by NatWest from Thursday 1 May. For most, this means little will change for now as the Sainsbury's Bank brand will remain, though it's expected to be phased out towards the end of this year. However, if you've over £85,000 saved across both banks, it's worth considering moving any excess elsewhere to ensure your cash remains protected.
Chase customer? Check if you can get its newly boosted 4.8% easy-access saver
If you've got a Chase account, check if you can boost your easy-access savings to 4.8% – made up of a 1.8% AER fixed six-month bonus plus its standard 3% variable rate. Chase says over 2 million customers can get the boost, which would top our normal savings tables if it were open to all, though it's beaten by the top easy-access cash ISAs.
NatWest to complete takeover of Sainsbury's Bank this week – here's what it means for savers and borrowers
Sainsbury's Bank's savings, credit cards and loans will be taken over by NatWest from Thursday 1 May. For most, this means little will change for now as the Sainsbury's Bank brand will remain, though it's expected to be phased out towards the end of this year. However, if you've over £85,000 saved across both banks, it's worth considering moving any excess elsewhere to ensure your cash remains protected.
Martin Lewis: Is the £20,000 cash ISA limit about to be killed off? What savers should be doing now
Plans to cut the £20,000 cash ISA limit later this year are being considered by the Government. In his latest video, MoneySavingExpert.com founder Martin Lewis explains what's likely to happen, what the changes would mean for savers and what you should be doing now.
NatWest to complete takeover of Sainsbury's Bank this week – here's what it means for savers and borrowers
Sainsbury's Bank's savings, credit cards and loans will be taken over by NatWest from 1 May. For most, this means little change for now as the Sainsbury’s brand will remain, though it's expected to be phased out towards the end of this year. However, if you've over £85,000 saved across both banks, you'll need to move any excess elsewhere to ensure your cash remains protected.
NatWest to complete takeover of Sainsbury's Bank this week – here's what it means for savers and borrowers
From Thursday 1 May, Sainsbury's Bank credit cards, loans and savings accounts will be run by NatWest as part of a deal between the two banks. You'll be moved to NatWest in the future, likely towards the end of this year, but for now the Sainsbury's Bank brand will remain and you can continue to use its products and services as before.
Martin Lewis: Is the £20,000 cash ISA limit about to be killed off? What you need to know
Plans to cut the £20,000 cash ISA limit later this year are being considered by the Government. In his latest video, MoneySavingExpert.com founder Martin Lewis explains what's likely to happen, what the changes would mean for savers and what you should be doing now.
Warning: 'WASPI' women affected by State Pension age rise should watch out for 'steep rise' in scams
If you're a woman born in the 1950s affected by changes to your State Pension age, be on high alert for scams offering compensation for this. Campaign group Women Against State Pension Inequality (WASPI) and charity Independent Age have warned so-called 'WASPI' women to be extremely careful, as there's been a reported "steep rise" in the number of scams targeting this group.
Martin Lewis: 'WASPI' women affected by State Pension age rise should beware 'steep rise' in scams
If you're a woman born in the 1950s, be on high alert for scams offering compensation for those affected by changes to their State Pension age. MoneySavingExpert.com (MSE) founder Martin Lewis has warned so-called 'WASPI' women to be extremely careful, as there's been a reported "steep rise" in the number of scams targeting this group – with some even using Martin's name.

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