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No one will give me a loan
My credit score is pretty good 750/1000 on clearscore and I've not missed a payment for anything in 4 years but the bank want allow me to borrow any more money on my existing loan, I only got 5 months left on my loan, I also checked on clearscore for loans and no one wants to lend me nothing. I did take money out on my cc…
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Borrowing extra when remortgaging good or bad idea?
Hi, current pandemic situation aside is it it generally a good idea to borrow a large sum of money when you remortgage? As in, my house was bought for £350k, mortgage owed is down to £300k now and house is worth £425k so I have a decent amount of equity and want to borrow say £50k to pay off a few cards and do some work on…
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Bounce-Back loan
Hello. My son had a good business which was ruined by the COVID situation. He took out a personal (his company was not Limited) loan from HSBC of £50,000 when he had hopes of resurrecting his business. Now the bank are demanding his loan be repaid, or they will make him a personal bankrupt. He has only just started a new…
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Medical Loan or Personal Loan
Hi all, new to the forum so please forgive me for any mistakes! I'm currently looking at private surgery for something which I can not get on the NHS. The cost of my surgery is £7800, and I have £2800 saved for it. But will need to secure a £5000 loan for the rest. I have spoken to the hospital providing this surgery, and…
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Avoid Motonovo If You Value Your Credit Worthiness
Yet again this company has screwed my credit file - my payment was 3 days late which I fully accept was my own fault for not checking whilst working away but the payment did go through 3 days later - did this company report it as a late NO reported as a missed payment even though they had taken payment, then take the next…
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Better rate on a recent loan
I took out a Santander loan in July at a rate of 14.9%, the best offer available at the time for me. Since then my credit situation has greatly improved and when I checked the mse eligibility tool it offered a 100% eligibility rate and guaranteed rate of 8.2% with Admiral on a quote for loan consolidation. This would…
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APR calculation
2017 Had a loan of £8000 from our Community Bank.... very low APR (6.7%) Monthly payment £190, interest around £30. 2019 Refinanced with a further £2500 Recently discovered that out of my £204 monthly payment, I am paying on average £130 to £140 in interest!! Can't get satisfactory answers from the Community Bank. But can…
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Applying for a loan immediately after home purchase completion
Hi everyone. Today is my completion day for my home purchase. I wanted to find out if I can immediately apply for a loan. I need a car and I have been waiting to complete the house purchase. If I was to apply for a loan day today or tomorrow would this affect my mortgage or my chances of getting a loan. Thanks in advance!
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Over 78,000 QuickQuid borrowers expected to receive payouts after being mis-sold loans
Around 78,500 QuickQuid and Pounds to Pocket borrowers, who were mis-sold loans they couldn't afford, are expected to receive refunds of some of the interest and fees they were charged. But they'll only get back up to half of what they paid - and some will receive less than a third... Read the full story: Over 78,000…
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PCP mis-sold
Has anybody tried to reclaim mis-sold PCP deals? I am currently starting the process and have been told I am due £10k plus in compensation for one of my previous cars? I have had other cars to which are eligible for the compensation. Almost seems to good to be true? The only sting if it is genuine like PPI, is the company…
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New car? it's a lot of money....
Hi, so I start a new job next week and should be able to save around £800 per month?! I'm thinking, should I buy a car.... Then I thought, a bank loan would probably be best as then I'd own the car and would be able to sell it if I lost my job and pay the loan off I'm a bit scared as I'm thinking about borrowing £25000…
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Loan to adult daughter?
Our adult self-employed daughter is currently living on a narrow boat that she owns (worth around £40,000). She is about to purchase her first house along with her boyfriend. My wife & I have offered to lend (interest free) them the value of the boat for their deposit until the boat can be sold. The cost of the house is…
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Overpaying on a repayment mortgage vs an offset repayment mortgage
Good Morning. I was just listening to your Podcast on mortgages which was released on the 3rd of November and had a question. Which of these two options is better: to overpay on a 25 year repayment mortgageOR to have a 25 year offset repayment mortgage if you one has savings that is 10% of the oustanding mortgage loan?…
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Car finance - I think I've been sold an unfit car
Hi all Me and my partner had a financed car with CarShop for 4 years, and traded in for a larger car due to some unfortunate circumstances. But we have had non stop issues since the day of purchasing of the vehicle, I will try to quickly summarise. We decided on a Suzuki Vitara (2017), the model we wanted they due to…
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Take Mortgage at 1.4% Fixed Interest Rate for 2 Years or 1.7% Fixed for 5 Years?
A friend of mine has been offered a mortgage by Halifax with two fixed term options: 1.4% Fixed for 2 Years 1.7% Fixed for 5 Years The decision depends on how much mortgage borrowing interest rates might increase by. Which option would you say is best? Thank you.
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How do I get the best possible personal loan interest rate?
Hello all, I'm looking for advice please on how I can secure a £15K loan over 5 years for a special purchase and get the lowest possible interest rate. I've gone through the MSE loan eligibility checker and read advice on the forums which seems to vary, but would like the best advice to reduce the interest rate I'm offered…
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Advice needed for car liability options
Hi, long story short, I purchased a 2018 Audi A6 Ultra Black Edition for ~ 23k with 1k down for PCP with repayments for ~ £395 PCM in August 2020. I picked this car purely because my ex partner wanted it, I personally wanted a van worth 2k :neutral: Now, I find myself sat with this huge lump of crap, even though it is a…
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Approved for loan APR higher than expected should I apply elsewhere or will it go against
Hi Applied for a loan online with Tesco Bank (Joint loan me n hubby) Got approved but there was an error on the form I filled out online which I didn't notice when I sent the signed paperwork back - I had managed to somehow put my husbands first name twice! Tesco phoned and said they had to redo paperwork and carry out…
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Merged: Cabots debt letter recieved
This discussion has been merged.
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Selling Company with BBL
If I sell the company with BBL Loan and do the sale and purchase contract. Will I still be liable to pay the BBL or the new director will be liable for any kind of debts acknowledged in the sales dead. Second if the bank refuse to add new director in the bank account for some reason, who will be liable to pay off or will…
