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Voluntary Termination Frustrations
I did as much research as I could before we VT'd our car and tried to do everything right. We'd paid back more than half of the total amount payable, I sent the letter recorded delivery and got a delivery signature from the Royal Mail website. I anticipated being charged for the excess mileage. What I didn't expect was for…
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Car Finance or Personal Loan
The APR is slightly less, but is there any different impact on my credit score - also thinking of a mortgage this year. I presume with car finance, the finance is secured against the asset ( car ) whereas with Personal Loan it isn't? Thanks For any Advice!
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Loans 2 go have i been charged too much interest?
I stupidly took out a loan with loans 2 go. It was through a third party website so when I agreed to the loan I didnt realise it was over an 18 month period and the extortionate interest rate that would come with. A £500 loan over 18 month ment me paying back over £1900. I know there are rules they have to adhere to if the…
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Student Loan Arrears and Mental Health
Hi, I'm still new with this forum so please bear with me. I had a £500 student loan in 1995 and another smallish one in 1996 which Honours Student Loans (who now own them) say I have paid off in full/written off (I can't remember which). But I suffered with depression and anxiety for a number of years and I couldn't deal…
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Updated: It was a glitch in the lender's website!
I recently used the MSE service to find a loan. The results came back, along with a notice that said (for a few providers), "Guaranteed rate 2.8% APRWe’ve got them to guarantee this loan rate. If you’re accepted, this is the rate you will get" On applying through the link, I end up with an offer of... 5.9%. And, as the…
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We borrowed 50k, but our plans changed. What to do with it now?
Hello everyone, this is my first post and I wonder if someone in the community would be able to offer some judgment-free advice. My wife and I have had a mortgage for 6 years - it's a fixed rate deal over 25 years. Last year during the first few months of the pandemic, my mother (who lives in Brazil and depends financially…
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Wrong loan amount - what do I do?
Hi all - newbie here, so please forgive me if this is covered elsewhere (I did a search, but couldn't find anything relevant...) This weekeend we took out a loan with Nationwide to buy a car - very easy process, and we got a great rate, with the loan paid out in less than an hour - so far so good. However, we made the…
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Loan Application issues.
I have a work colleague who's had to sell his house, due to a divorce and has moved in with his mother. He has £100,000 sitting in his bank account, that he needs to put towards buying a new home. He's looking at a flat and needs to borrow more money, but he needs less than the minimum mortgage amount (£20,000 I think). He…
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IKANO approved my IKEA 0% loan application for wrong amount - Can anyone help?
I applied through IKEA online application form for an IKANO 0% interest loan of £975. I am certain I entered the amount correctly because it calculates the monthly payments and I noted this at the time. I was referred- because the image of my ID wasn't clear- and after a week of chasing them, because the links to verify my…
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Chasing
Many years ago I took many payday loans out and never repaid them 10 years later I’m still being chased for them I was told they give up after 6 years but this can’t be true any help would be gratefuly accepted
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How can I get a better rate to pay off?
Hi all I have a loan with 16 months left on it at £380 per month. I had the brainwave of paying it off with a 0% balance transfer credit card but the loan company won't let me pay debt off with debt. The only way it looks like I could do this is with a card that offers 0% on 'money' transfers but they any pretty hard to…
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End of car finance- Mercedes asking me for £1000
Help please! We bought a Mercedes on finance in 2018 and have just returned the car a few months prior to the end of the term. Mercedes are now asking for £1000 for 'damage' to the vehicle. There are a few small scratches and some 'dinks' on the alloys. Some of the damage was present when we purchased the vehicle but…
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Apply for second lender?
Hi, i’ve applied for a loan today with a decent APR and it’s come out massively higher. I appreciate it’s for a small amount of customers the smaller rate, but the ta like 4x advertised. I know you shouldn’t apply to multiple lenders, but would it be a massive issue getting another quote? its the pay the higher interest or…
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Very short term loan
Hi, we're due to get an inheritance in the next couple of months and really need to replace the family car as it's on it's last legs. Unfortunately the car may not last until we get the money. Looking at the cheap loans we could get a £10,000 loan and the interest would be £150, so would we be able to get the loan and…
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Student Maintenance Loan as English Student in Wales
Hi, So our son is going to Swansea in September and has made his Student Finance application via SF England (as directed by the Gov SF website). He has received a figure of around £9000 for course fees and £5300 for his maintenance loan. My partner was sure she saw Martin on a show discussing the fact that if you are…
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Positive Equity in my Vehicle
Hello MSE, Last year I engaged in a PCP deal for a vehicle. After a few hours of browsing Autotrader I noticed that my vehicle (BMW 118i - 67 Plate M Sport Shadow Edition) is selling for well above my settlement figure. I can see Vehicles closely matching the spec, mileage and condition of the one that I drive upwards of…
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Great Credit Score BUT High Rates
I am confused. I have cultivated a credit score in the high 900's but applying for a £9,000 loan today from M&S I was quoted an interest rate almost three times higher than their suggested 2.9%. Any ideas?
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Gifting to children
I want to gift £10k to my child so she can pay off debts (credit cards, store cards, etc.) Can I just transfer money from an isa into her account without tax liability to either she or I?
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Vehicle Refinancing
Hi guys I am not sure if this is the wrong section. My apologies if it is. I bought a vehicle on Finance just less than 12 months ago and took it over 5 years, just over 4 years to run on the agreement. I let my heart rule my head when I chose it and I now realise I made a mistake with it and realise it’s slightly too…
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Erudio Student Loans Conundrum
I have a Mortgage style student loan dating from 1998-9 that is now managed by Erudio. I have been in deferment all of that time. I should be able to defer this year if my gross income is below £30,646 annually. In actual fact I made a loss this year, but they are saying they aren't accepting my deferment Some more…
