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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'.

Student Loan - Don't qualify for government loan.
Hi all, I moved back to the UK from South Africa 7 months ago and will be bringing my daughter over here to study at university shortly. My daughter is a British citizen, but hasn't lived herein the past 3 years, which according to the rules I read, doesn't qualify her for a government student loan. Are there other viable…
George Banco Ltd Guarantor
Hi I was wondering if anyone had any problems with this company .I am trying to appeal from being a guarantor and waiting for FOS decision .
Payday/gaurantor loan reclaim problems
Hi All, need some advice please. I have tried claiming back from both amigo and provident using resolver through this website and following advice.Amigo are going to court to try and get a repayment scheme set up so they only have to pay a fraction of the claims. I also have been trying to claim from provident, and it…
Loan Advice needed
Hi all, I’m after some advice - I have a credit card with MBNA I’d like to pay off. I took out the card initially to transfer the balance I had of £4,000 from another card, this amount is interest free with my MBNA card until June, I have however spent a further £3000 on the card and am now being charged 20.3% on that…
LOAN INTEREST RATE DIFFERS FROM ADVERTISED RATE
I have applied for two unsecured loans, one from Sainsbury's Bank, and one from the AA. Both the loans were advertised at 3.1% APR. I was offered a loan of the amount requested ( £12.5k) by both companies, but at 9.9% APR. I know that banks have to offer loans at the advertised rate to only 51% of successful applicants,…
Secured loan on flat already - Valuation charges .in relation to change of deeds and renovation
I have a secured loan of 45k . My flat has been valued between 250/300 k over the last 10 years . I have a third share of the freehold with 2 other flats that make up the house that I live in . The House has a basement which the freehold owners are selling to a developer it will mean they we have to change the deeds . In…
Mis sold secured loan
When I was married I was asked to help the then mother in law with a loan secured against her House. When I divorced I couldn’t afford the repayments on my own and the house was repossessed at a deficit and I was told that I had to pay the deficit off as I was on the loan agreement. I made an agreement of £15 per month…
Company reviews
I was wondering if anyone controlling then for example George Banco have excellent star rate but when we actually read every single comment it's 1 star one after another .
FOS reply
Hello year ago I have sent complaint still haven't heard anything from FOS,once I called and I was told my case is waiting in the que to be allocated to a handled .When I send emails no reply whatsoever and no update since .I am not sure what to do .
time barred debt
my brother died and i became the executor of his money i got a letter to pay a debt not knowing my brothers finances i paid it but now have found out the debt has not been chased for over 6 years he has no ccj as i have checked could i get the money back thanks andy
Bounce back loans
I applied for a new business bank account last autumn and was told by the bank that they were so busy with bounce back loans that they were no longer opening new accounts.Can you confirm if the banks were paid a commission by the govt to organise bounce back loans.
Affordability Complaint
If you have seen my other thread about which loan to pay off, then you will know I have 4 outstanding pay day/short term loans and 2 longer term (guaranteed) loans. I originally sort advice as to which to pay off first and at present due to some being fully paid anyway, others being paid off early, once I am paid this…
Fourteen day cooling off period
Hi i recently purchased And picked up a new car using an HP agreement from the bank. When I spoke to my dad he said he would have given me the loan interest free so I’m wondering if I can repay the finance without any interest charges as I’m still within the fourteen day period.
MYJAR Loan has vanished from my account, can't repay
Several years ago I fell into the payday loan trap. I eventually ended up too deep and unable to pay. I spent most of COVID clearing old debts. I had an outstanding MYJAR loan that hasn't been marked as defaulted. In fact it doesn't appear on any of my credit files at all. I made a few small payments to it last year just…
Advantage Finance - Direct debit fee
Good Morning, wondering if there is any advice as I’m a little confused.. So I got a car on finance with advantage the direct debit was set up for the 28th of each month - never missed a payment - I then had to give up my job in 2019 due to my daughter being disabled - I called Advantage to say that I would need to amend…
Personal Loan Repayment
Hi All, Some advice if I may, I upgraded the windows at home at the end of 2019 which were installed in early 2020. Having only moved in shortly before that I didn't want to use savings and have a limited cash flow for other requirements. So I took out a 96-month finance agreement with the intention of repaying that early.…
Secured loans
Hi I jointly own a property with my ex husband (seperated for 3 years). I know he has severe financial difficulties. Can he take a secured loan out against my property without me knowing and is there a way of me checking if he has?
Car finance charges
Hi, I hope someone will be able to help. Back in 2019 I needed to change my direct debit date on my car finance because of change in circumstance. They told me there will be a monthly charge of £12 because of this. So I have been paying an extra £12 every month on top of my finance. My question is ‘ can they do this?’ Can…
Pending finance decision
Hi. I recently applied for finance for a item worth around £1500.It’s been over a week now since that application was referred with Hitachi and I haven’t heard anything. On the website I am buying the item from its says it usually takes 1-2 days for them to make a decision on referred applications so I gave them a call…
Expenses affecting loan/remortgage
hi all, can anyone advise... we are looking to finance renovations and were thinking of remortgaging to do so. However, I have needed to rent a property in my name for my father to live in temporarily. My father pays for this by giving me the money each month. This arrangement will end in six months time. Question: would…

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MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
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.

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