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.

I am unsure whether I should apply for a student loan, since I have enough money saved which I could use to fund my tuition etc…

But, the student loan does seem like the cheapest loan you will ever get and I would like to be able to save the money I have for use as a deposit in my first house later on.

Should I get the loan?

STeve
"Getting in debt is not too smart." Well, I am going to have to get a mortgage when I buy my first house anyway, so I will have to be in debt at some point. So I might as well try and make the debt I get into the cheapest possible.
"edit: And what that makes more sense to you does it? Whether you’re getting a mortgage or not, having more money to pay off isn’t really helping you."

Student loans aren’t like normal loans, they have much less interest and you don’t need to pay them back untill you are making at least £15000 a year.

and keeping the money so my mortgage would be small leaves me with the same amount of debt in the end. But with a lower effective interest level.

YES! A student loan is the best possible loan you could get and is tax deductible. If you are looking to get a home, car, etc anytime soon it is much better to be paying off a student loan than a car loan or unable to put a decent down payment on a home. You could always get the loan and if you have enough in savings after everything just pay it off early.

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.

http://loan-house.we.bs/