Stack Exchange Network

Stack Exchange network consists of 174 Q&A communities including Stack Overflow, the largest, most trusted online community for developers to learn, share their knowledge, and build their careers.

Visit Stack Exchange

Questions tagged [united-kingdom]

For questions that relate to the laws, practices, and products of the United Kingdom.

165
votes
10answers
36k views

I'm supposedly eligible for an inheritance from a distant relative. Offer appears to be legitimate

About 12 months ago, I received a letter ostensibly from a company carrying out genealogical research for law firms. It said that they were dealing with the estate of someone who had left money to my ...
152
votes
10answers
36k views

My friend wants to put my name down for a house he's buying. What risks would I be taking?

My good friend, who I have known since we were kids, asked me for a favor today. He originally intended to get a house with his now ex-girlfriend so that he could invest in one and later on, sell it. ...
82
votes
11answers
24k views

What to do if I can't trust myself with monthly wages? [closed]

I work in the UK, like most people here I get paid once a month. I've been doing this for about 2 years now (on a modest income) and my ability to make the money last has not gotten better (if ...
73
votes
6answers
26k views

Currently sole owner of a property. My girlfriend is looking to move in with me and is offering to pay 'rent'. Am I at risk here?

I currently own a flat (UK) and have a mortgage for said flat. My girlfriend is looking for a place to stay and it would seem mutually beneficial that she stays with me. She has offered to pay 'rent' ...
66
votes
7answers
17k views

1 year old car is dead, called the car dealer they can fix it only if I can bring it, what should I do?

I have a new Toyota Prius (2017 model), bought between 12-13 months ago. The car recently has gone totally mad (Ironically 1 week after the service). So I arranged a booking to get it checked out, ...
57
votes
10answers
13k views

Why don't bond makers just get loans?

I was just looking at investment opportunities, and I found a number of places offering bonds paying up to 12% interest over two years. My first thought was, I can get a loan from my bank for 5% ...
54
votes
4answers
13k views

On paper I have 1 share in my company. How can I sell a smaller percentage of my company to another party?

To be specific, my wife and are equal partners in our limited company. On paper it says we have one share each. We now want to sell 10% of our company to a third party. How does that work in terms of ...
53
votes
4answers
15k views

Random and anonymous `western union´money transfers into my account, is it a scam?

Two months ago I received a money transfer of around 200 € into my account from a company called Custom House Financial UK, which turns out to be an affiliate of Western Union (ie. they do money ...
52
votes
8answers
24k views

Is this broker a scam?

I was contacted by a 'broker' in January, they said they're based in Switzerland (I'm based in the UK), and they asked to invest some money (as minimum as $1000). They told me that my platform would ...
50
votes
10answers
16k views

One of my stock positions has grown substantially. Should I rebalance my portfolio?

I'm a small beginner investor with less than 50k portfolio. One stock I hold has grown substantially than everything else and makes up 46% of my portfolio, but it is expected to keep growing and has ...
48
votes
7answers
10k views

Why are low risk investments so strongly advised for first-time investors?

Inspired by the flurry of questions on this site about the returns available from investing in equities over the long term, I decided to approach my UK bank about setting up a small investment fund, ...
48
votes
7answers
15k views

Didn't apply for credit card but got an application denied letter?

I was recently forwarded a letter by the owner of my old address that turned out to be from a credit card company, informing me my application had been declined. Ignoring that this letter was sent to ...
46
votes
7answers
6k views

How do I go about finding an honest & ethical financial advisor?

First things first, this isn't a "recommend a good financial advisor" question. I'm looking for advice on how best to approach the world of assisted personal finance & investing. I'm currently at ...
45
votes
2answers
7k views

Best way to make sure my son has an income after I have died

I have a son with special needs, he is autistic and has learning difficulties. It is unlikely he will ever have a 'normal' life or be able to financially support himself. I am extremely worried of ...
44
votes
11answers
15k views

What can I do with a property that won't sell following divorce?

My wife and I bought a property just over 2 years ago for €114,000. We put down a 10% deposit (€11,400) and so took out a mortgage of €102,600. We took the mortgage on a short term (15 years) to ...
41
votes
1answer
5k views

How can I help an individual whose bank is writing to them at my address

Over 10 years ago, the previous owners of my house moved away. They didn't leave us a forwarding address and aren't in the phone book. This time every year I get a letter from a bank addressed to ...
39
votes
6answers
12k views

Should I pay down my student debt early?

I just graduated university and started my first job. I have £50,000 in student loan debt at 6.1% interest. My monthly payment on this debt is £10 (direct from my paycheck). I can afford to pay £...
38
votes
2answers
12k views

Car insurance (UK) excludes commute to and from work, will not pay on claim during non-commute

My girlfriend was recently involved in a crash where both parties are claiming it was not their fault. She took out a policy with an insurance company called GoSkippy whose brokers are Eldon ...
37
votes
11answers
8k views

How to do the maths on affordability?

I have a bad or no idea on how to budget. We are moving but I don't know If I can afford the rent as the family grows and I need my own study. How can a person measure how much to spend on food, car, ...
32
votes
1answer
4k views

Dividend Payments - Am I entitled?

Suppose I own 100 stocks in a company listed on the LSE. I purchased these shares through an online broker some time around the 1st of November 2016. Looking up the dividend dates of the company using ...
31
votes
4answers
7k views

'Gifting' a house in the UK

In UK news recently, there has been much talk about so called 'dementia tax', that is, the government using assets (such as property) to pay for social care in old age. Whether or not people should ...
30
votes
8answers
11k views

A friend wants to use my account for a wire transfer. Is this a scam or is it legitimate?

I have a friend since July online and Exxon owe him for a balance on a 2014 contract off the shores of Liverpool. He is presently in the Gulf of Mexico completing a contract that last for one year. ...
30
votes
4answers
6k views

Why do most banks in Canada charge monthly fee?

I am not sure about other countries, but here in the UK we mostly don't need to pay a monthly fee. But I was a bit surprised to learn that most Canadian banks do charge monthly fees that some of them ...
30
votes
4answers
9k views

Can a company charge you for services never requested or received?

My partner and I have recently moved into our new home and as expected have received a number of letters from companies for the previous occupants. This latest "Letter" (I say letter but It was a ...
29
votes
8answers
6k views

Does having a credit card make it easier to get a mortgage?

I've never had a credit card and the only debt I have is my student loan. A number of my friends and family who have credit cards have said that having one makes it easier to get a mortgage as you'll ...
29
votes
5answers
7k views

Why would someone who thought they will work until they die contribute to a pension plan?

One of the shocking graphs going round at the moment is from many millennials expect to work until they die: Now I'm a UK millennial who wants to retire early, however if I did think I were going to ...
26
votes
1answer
1k views

Estate with negative net worth

If someone dies with a negative net worth, what happens to the bills and debts that they leave behind? If I am the next of kin, or if I am the estate administrator, am I responsible for the debts? ...
24
votes
9answers
5k views

UK Student Loan Repayments

This is something I’ve always wondered about and have never really found a satisfactory answer. Maybe I've misunderstood how student loans work. I've completed a Uni course (plan 2) after borrowing £...
24
votes
3answers
5k views

20% APR means only 10% interest? (UK)

I am trying to get better grasp of what the APR figure means, so this example is purely hypothetical. I have entered a loan of £100,000 into an APR calculator on MoneySuperMarket with a 20% APR for ...
23
votes
4answers
8k views

Can you explain why these items are considered negatives on my credit report?

I just used 'Clear Score' to find out my credit rating. My score is higher than both the national and local averages, but there are 2 'negative' results shown. Negative (2) Your oldest active ...
20
votes
4answers
3k views

Receiving a product after getting a refund

Last week I ordered 2 kits of impact drivers due to the unbelievably low price. The product was discounted from 300EUR to 100, so I bought 2 of them. Next day I received an email from the company, ...
19
votes
10answers
5k views

How can I improve my credit score if I am not paying bills or rent?

I still live at home and thus I don't pay any rent or bills directly. I give a small chunk to my parents but this is somewhat irregular. I am employed, so a lot of my income goes straight into ...
18
votes
3answers
3k views

I'm 23, living at home, and still can't afford my own property. What could I do?

Most of my friends have their own places, either rented or mortgage. Should I be concerned that I still live at home? I bring home around £1300 after tax, £400 of that goes on car finance+tax, £200 ...
18
votes
2answers
177k views

Are BIC and SWIFT code the same things?

I'm helping a friend with submitting an expenses claim to a US organisation we're both involved with. As the money is coming from a US bank, we can't just give them an IBAN and a BIC and be done with ...
17
votes
6answers
3k views

Using a credit card to clear my overdraft

I'm currently into £2000 overdraft with Santander. It was entirely interest free while I was a student. Sadly those boozy days are behind me and with this new responsibility comes a charge for the ...
16
votes
6answers
2k views

What do I need to know before getting a loan?

Recently, due to a series of events, I've been finding myself... uncomfortable with my financial situation. I'm not in debt, but my account balance did drop into the low three-digit figures a couple ...
16
votes
2answers
2k views

Double taxation on Americans working abroad?

I am an American. I am currently living in the UK. The UK will tax me on my income here. The US will also tax me on my income if I make more than a certain amount. Can anyone tell me what that ...
15
votes
3answers
4k views

Are there in-between tax bands in the UK

Are there any in-between tax bands or would my income tax be either 0,20,40 or 45% ? If (in 17/18) I make 44999 a year my tax would be ~9000 but if I make £2 more at 45001 my tax is now ~18000 ?
15
votes
3answers
2k views

Pensions, why bother?

Ok this question is going to show my age, but its something I've been thinking about for a while and can't quite figure it out Why bother with a pension? I don't understand, why should I put away £...
14
votes
3answers
5k views

How can the Samsung Upgrade Programme offer 0% APR?

I noticed on the Samsung online store that they are offering a 0% APR monthly plan for Galaxy S8 devices in the UK. I assume that applicants will have their credit checked, but how does this offer ...
14
votes
1answer
4k views

Overpaid by employer, will I lose out on my income tax allowance?

My employer overpaid me by a significant percentage of my salary and so I need to repay the money. Obviously I don't want to lose out on the income tax allowance for this tax year. How can I make ...
14
votes
3answers
3k views

Is the UK 'Cycle to Work' scheme worthwhile?

There is a cycle to work scheme my work is offering which works roughly like so: Change some of your pre-tax salary into vouchers to use to buy a bicycle, and bicycle equipment (helmets, lights etc). ...
14
votes
5answers
168k views

How do I make a one of payment to my HSBC credit card bill with a HSBC debit card UK

I need to pay my HSBC credit card bill with a HSBC debit card and I can't transfer money between accounts (it doesn't show up on the list of accounts). When I click on the direct debit details it says ...
14
votes
6answers
5k views

What should a 21 year old do with £60,000 ($91,356 USD) inheritance?

I'm turning 21 years old soon and have an inheritance coming into my control to the value of approximately £60,000. I'm full-time employed, as a Software Developer in a Financial Services company. I ...
14
votes
3answers
912 views

Is it worth having a pension?

I know this could be a duplicate of other questions here, but I think I have a different take on it which may be of interest to others in a similar frame of mind. Some background I'm self-employed ...
13
votes
7answers
5k views

Is it possible to offset a mortgage with only the appreciation of that property's value?

As in, is there a possible scenario where the appreciation of the value of a property could be greater than the mortgage payments on that property?
13
votes
3answers
565 views

Pension or Property: Should I invest in more properties, or in a pension?

I do not have a pension but have a rental property (which breaks even). Question is, do I invest in more properties or take out a pension ? I am worried if I go down the pension route I would lose ...
13
votes
2answers
257 views

Once retired, is it ever not worth improving a pension by voluntary National Insurance contributions?

I am recently retired (in Germany) and gather from my UK National Insurance record (on tax.service.gov.uk) that I have 11 full years1 and a number of gaps which I may2 be able to close with voluntary ...
12
votes
6answers
4k views

Should I invest in my house, when it's in my wife's name?

I loaned my wife about £50k in order to do work on the property she owns. I did this with a documented loan agreement, and she was not my wife at the time. Now we are married, I moved in, and sold ...
12
votes
6answers
3k views

What is the process of getting your first share?

Hello I'm 21 years old and I recently moved to London currently employed as an Salesforce Administrator at Heathrow Airport. Everyone here talks about owning shares investing in different types of ...