A friend took out a secured loan for £10k and a Registered Charge was placed on her house [£5k outstanding]. Then a few years later with the same lender they took out another unsecured debt (overdraft currently @ 20k) and we would like to know what relation the original (and only) charge has with regards the new unsecured debt?

I would assume none as it was unsecured and came years later but what I think and what the bank says are not the same!

Also the bank want to combine the 2 debts and from what I can see add an additional charge to the property which I think speaks volumes! Just wanted to hear from some experts as I think they are trying to pull the wool over her eyes and just get the unsecured part secured!!

So in summary how much money can the bank claim for as part of Registered Charge?
a) £5k as its the amount outstanding on the secured loan
b) £10k as that the total value of the original charge (even though the separate overdraft came a few years later)
c) £25k i.e. all monies owed to the bank at any point after the charge was made??

Thanks for your time.

Secured loans are the best and easily procurable stuffs. Since you are securing your property there are very high chances of getting a very small interest rate. You might also get the best repayment period. Trying and applying online with UK vendors will save ton times. So apply online from websites.

I hope http://www.loan-guides.net/business-loan.htm will help you in getting a bad credit business online loan from UK vendors.

12 days later I have received a text thanking me for opening an account with them. I gave them a call explaining I did not agreed to anything, but they said I gave them my card details (but does that mean they are free to charge me for whatever they want?) after a while they hang up, and now as soon as they hear my voice they hang up all the time.

What can I do, is there any hope and way to get the fee back (in UK)?
I meant loan broker…
Othniel – thanks for your answer, have contacted bank, blocked card and asked to stop the payment. Should be ok… thanks again…

Dispute the charges with your credit card company. Since you did not receive any goods or services the credit card company will not pay the loan company.

In the future do not try to do business as important as a loan application through an unknown internet company. Only deal with reputable lenders, if there are any left but that’s a whole different topic.

Go to your local bank, credit union or the lender that you have used in the past.

My partner and I would like to set up a small time business in retail, I myself am 18 years old, my partner is 19. We are both currently unemployed.

We looked into starting our own business as a way forward, an alternative to a job, something WE have control over, our earnings will be governed not by someone else, but by our ability at what we do.

We have both been born into families that have a history of business managers and the like, so we’ve had some good knowledge from the start, hence why were oh so determined to succeed.

We are looking to secure a loan of £5000 (GBP) from the bank of our choice (Barclays most likely), with as little interest as possible.

We have a full, completed business plan that has been reviewed and given praise.

We are wholey confident in our plan and ourselves. Now we ask the question, What is the possibility of us securing a loan of £5000 from the bank, with little to offer them in terms of collateral, will a solid business plan and pitch be enough to sway their view?

Need pretty swift responses people, 10 Points to the most convincing answer.

Thanks in advance.

odds are it’s not going to happen. First requirement of a loan examination is the ability to repay the loan. YOu do not have that.

Take the business plan to the commercial loan department for review. If it’s as good as you say, they will be falling down to lend you the cash.

Two years ago I was awarded 100% equity in our family home in my divorce settlement. Then it came to light that my ex husband had taken out a secured loan on the property without my knowledge.

This meant that I had to have the loan companys consent to the change of name of the deeds. When they were contacted they refused as, after taking the loan, my ex had not made a single payment and there were 7 months arrears on the account.

I now wait to see if they will force sale of my home.

My question is: if the house is sold there will be an amount of money left over.

Even though a judge has given me all the equity on paper (less that owed to the loan company of course) the deeds have not been changed to show only my name. Does this mean that my ex technically still owns half the property and thus is entitled to half of the funds that remain? Or, is the Court Order awarding me the equity sufficient for me to retain any money that is left over?

If anyone can advise I would be really grateful. Its bad that I may lose my home but paying his loan (which is over £30k) and giving him half the remaining equity would be akin to chewing broken glass!
I took him to court and a judge ordered him to make the payments. He believed that it wasn’t my signature on the form but the loan company refused to remove the charge from my house. It was down to my name against his and impossible to prove.

I know there will be money left (after his loan is paid) but my question is am I entitled to keep all of it – or do I have to split it 50/50 with him?

Is this loan even legal if it was taken out without your knowledge? You need to seek the advice of an attorney.

Whether there will be any amount left over if the property is sold depends on the math. Subtract how much is owed on the loan from how much the house sells for.

My partner and I have a fairly large amount of debt with our mortgage, loan, student loan and 2 credit cards. However, we have NEVER missed a payment and do not struggle for money. We make all relevant payments on a monthly basis and still have plenty of cash left over which we have been saving for maternity leave/baby things. During the 2.5 years we have been trying to conceive, many of our friends and family have fallen pregnant and had their children, and most of them have kept hold of things for us for when we finally have a child. So we already have pram, cot, changing units etc (although we would still like to choose and buy most of our own things).

So, do they base their judgements on the amount of debt, or the amount of actual cash we have?

We have good secure jobs, I am a qualified accountant and he works in IT.

Also, how long were you on the waiting list for before you got your child? and in which area of UK are you?

I haven’t adopted but it shouldn’t matter that you’re paying off debts. What’s more important is that you’re managing your money, have a home, jobs and can still afford to raise a child.

How long you’re on the waiting list depends on what age group you want to adopt from and if you’re willing to adopt a sibling group. For example the wait is longer if you only want to adopt a baby, which it sounds like you do, whereas if you’re prepared to adopt an older child from the age of 2 + it’s probably a bit quicker, 4 – 5 + the same.