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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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Loan newbie - fixed rates - need help to understand taking out a loan
Unfortunately, I am in the bad situation of needing a loan due to unforeseen circumstances. I always said I would never get a loan, now I need to because spiralling costs are going to possibly eat up my savings and more. My relatives are worried about rising interest rates. But can I take out a loan that is definitely…
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Home Improvement Borrowing
I'm posting here after reading around the other areas of the MSE forum and it's made me think that what I want to do is a bad idea. Basically I need to do some improvements to the house, one of the jobs is urgent and must be done now. The rest could wait a little while but will need to be done pretty soon before it ends up…
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Does this plan make financial sense?
I currently own a property with my (now ex) partner, with a mortgage left of around £153,000. My plan is to buy her out, for which I would need to raise around £60k. I can remortgage and borrow an additional £10k comfortably - my monthly payments would be around £550 with the additional borrowing (if I pay £2k in early…
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Car finance from 10+ years ago
Hi Wondering if anyone can help me. I bought a car on finance in 2008 and it got repossessed and sold at auction in 2009, the finance was with Santander. They took me to court in 2009 and it got 'stayed' at court as they said I hadn't sent certain documents to them when I did and I had proof, they never pursued with the…
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Bridging Loan Advice (or another solution!)
Hello Hive Mind My partner and I are buying a mixed use property (75% res 25% comm) for £940k. Can't get access to £348k of the full amount we need until 12 Jan 2022 (£263k in a 120 day notice account, £85k in a 90 day notice account available on 13 Dec 2021 and the bank won't budge on earlier release). We have promised…
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Charge against my home to secure a loan
Back in 2006 I took a business loan out that was secured against my property. Over the years I paid off the loan on time etc, no missed payments everything done bang on time. In March this year the loan was paid off, the account closed and we were told the charge against our property would be removed, it takes 7 to 10…
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Help finding a loan for a friend
This is a bt of an odd request, but I thought that if it is possible, someone here would be the ones to know of something. I have a friend who lives in EU and wants to get a loan. I would have thought it would be simple as he has a good credit rating both in UK and EU, and (in EU) has around 200k equity in the property.…
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First plus loan now Elderbridge
I hope this is the right place to ask these questions. i recently contacted Elderbridge for a redemption statement to pay off our secured loan that was transferred from First plus . The last normal statement I received said the amount owed was £18k but when it received the redemption statement it was actually £32k . I…
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VW car finance partial payments
Does anyone know how partial payments work for VW car finance PCP plans? I've saved a bit of cash to pay off a percentage of my outstanding car finance balance, but getting through to the customer services department on the phone is a pain, and there's no instructions/guide online on how the process works. Their email…
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Credit Card Loans min Payment forever
I have got myself into a bit of a problem with credit card debts. I owe 27k across 5 cards and my minimum payments each month are 824 pounds a month. I also have a loan i took out about 4 years ago for an extension on my house, so cant afford to pay more than the minimum payments. I would love to consolidate the credit…
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Paying back student loans
I’ve recently realised from my pay checks that I’ve been paying back by student loans, however I’m earning less that £21,000 per year so I don’t think I should be. I have an undergrad loan and a post grad loan, but I was sure you didn’t have to pay either back until you earned more than £21,000. Im unsure of the best way…
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Consolidation depression
I have two credit cards, totalling 15k, I am overpaying the smaller one to hopefully get it rid soon, to then overpay the bigger one (think it's called the snowball effect). I have tried to get a loan to pay them off quicker and cheaper. But although on a soft search I get accepted/100% eligible, when I fully apply I get…
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Home appreciation loans from the council seem to be a bad idea.
Home appreciation loans from the council seem to be a bad idea. If you are thinking of borrowing money in this way for your home improvements please think very carefully before you sign up. My grandson took out a Home appreciation loan via his local Council 9 years ago. He borrowed £10.000 He was given to understand that…
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Car hire purchase
Hi everyone, I have a quick question regarding car HP. I've bought my car on hight interest from one of the dealers because my credit history wasn't too good at the time, but now it is better and i was wondering if something can be done to reduce the repayment of it or settle it quicker by changing the car with the dealer…
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Personal Loan - Credit Agreement Form
Good afternoon everyone. Just a quick question please. This week I applied for a personal loan with Nationwide to be able to consolidate my other loans into one. The loan has been approved, money received and today I received the contract as well. Together with the contract it was another page, stating the fact that the…
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Tricky one. I need to raise £60K for a deposit on a buy-to-let maybe using pension?
Hello, I am 51. I recently discovered I have a pension pot from an old job that is worth £62K. I want to use this as a deposit for a buy-to-let house that I have found. The house value is £167k and it already has tenants in place (with a minimum years contract), paying £1100 per month. I thought I would be able to…
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STUDENT LOAN FRUSTRATION
I'm not sure this is the correct board but we are getting so frustrated with the student finance loan company Even at this late stage my daughter has been told she has zero grant. There is absolutely no reason for this. Both my wife and I are not high earners and have earnings combined well below any threshold. My son…
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Advice for a severely disabled couple - secured loan
Hi all Hoping someone could possibly advice me. It appears my Auntie and Uncle who are both severely disabled (deaf mute) were very poorly advised to take out a secured loan against their home in 2007 by their daughter. The loan was for £30,327.00 with a variable interest rate of 9.80%. It appears the loan is interest only…
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Car ownership after split
Hi all, Me and my partner of 8 years have recently split. In 2019 he took out a bank loan to purchase a new car for me as our old one wasn't suitable for us anymore (we'd just had a baby). Now I'm in a situation where the loan is in his name solely, he has been making the payments but I'm the registered keeper and have…
