Topping up loan but ICB problem.

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somebaldyfela

Registered User
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Hi folks. Just stumbled across this forum and hoping someone can help me with this unusual long problem I find myself in.
Here goes..

I sold my house and didn't need to remortgage to buy a new apartment. Just had to top up the car loan which I had no bother with. Paid all my money including stamp duty and fees to the solicitor but the sale was taking forever to close and it was discovered there were outstanding fees due to the management company of 5500.
I have about 1500 left in my account so I went to top the loan up again with about 4000 but was refused apparently because of a bad credit rating which was flagged since my previous top up.

It's in relation to a car I purchased on finance in 2014 which was nothing but trouble and after a few months of non payment I entered into an arrangement with the finance company and began to pay weekly instalments before clearing the amount in full last year.

I'd be grateful for any insight or advice..for example can I appeal to the ICB? Or do I have any other options for sourcing this 4000?

Sorry about the length of the post. Cheers in advance...
 
Seems crazy to be refinancing a car loan to help pay for an apartment. What rate is it?

How much do you need in total? If it was me I would apply for a mortgage for whatever the minimum you can apply for. I’d then pay back any excess funds once you are into the apartment and settled. You can then overpay until it’s cleared.

Pepper might be your best bet if you have ICB issues.
 
somebaldyfela said:
a car I purchased on finance in 2014 which was nothing but trouble and after a few months of non payment I entered into an arrangement with the finance company and began to pay weekly instalments before clearing the amount in full last year.
Click to expand...

What has the fact that the car was nothing but trouble got to do with your payment to a lender? And why did you pay weekly?

Were you in financial difficulties or were you just being stubborn?

Brendan
 
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