Am I entitled to get a maintenance loan?
According to GOV.UK, you can only apply for Student Finance if: Since you don't fulfill the criterion 2 and 3, you are technically not eligible for Student Finance. Since you have received information from Student Finance England that you can apply for the maintenance loan, you should either write to them or call them again, to confirm the information given to you. I think you're eligible for the tuition fee loan but not the maintenance loan. I think that SFE were suggesting that you'd be eligible under point 4 here 4: People with the right of permanent residence in the UK If you satisfy all the conditions under this category, you will be   eligible for full Student Support. To be eligible: (a) you have the right of permanent residence in the UK; and (b) you are ordinarily resident in England on the first day of the   first academic year of your course; and (c) you were ordinarily resident in the UK and Islands for three years   before the first day of the first academic year of the course; and (d) if your three-year residence in the UK and Islands was at any time   mainly for the purpose of receiving full-time education, you must have   been ordinarily resident in the UK or elsewhere in the EEA and/or   Switzerland immediately prior to the three-year period of ordinary   residence in the UK and Islands. It does not matter if you were in the   EEA and/or Switzerland mainly in order to receive full-time education   during this earlier period. Point (b) would be the reason for asking you to prove you were in England on 1 September, but since you were under three years old when you left the UK, you wouldn't satisfy point (c). You should be eligible for the tuition fee loan under point 2 2: EU nationals, and family If you satisfy all the conditions under this category only, you are   eligible only for a loan to pay your tuition fees. To be eligible: (a) on the first day of the first academic year of the course, you   must be:     a UK national; or a non-UK EU national who is in the UK as a   self-sufficient person or as a student; the relevant family member of   such a person above; and (b) you must have been ordinarily resident in the EEA and/or   Switzerland for three years before the first day of the first academic   year of the course; and (c) the main purpose for your residence in the EEA and/or Switzerland   must not have been to receive full-time education during any part of   the three year period.
I went here: Consumer Loan Law. It seems that a consumer loan is anything other than a business loan or mortgage.  However, in California it seems to include a mortgage. It's a bit weird to see that a HEL can be considered a consumer loan even if it is the primary or the only loan on a property.  Getting a HEL can be a great low cost way to (re)finance a property as they tend to have low or no closing costs and lower interest rates. I just wanted to add one factor to the other answers. The cost of maintenance etc. is not a fraction of the cost of financing - it is more likely a fraction of the value of the house, and a function of its age. If you say you need to replace a roof every 25 years, and that costs $10,000 (depends on the size of the house, obviously), then you need to set aside $400 a year for roof repair. Other costs (painting, flooring, kitchen, bathrooms, water heaters, heating, AC, yard upkeep etc) can be roughly estimated in the same way. A rule of thumb is 1% of the value of the house per year to cover all big-ticket maintenance. If you pay 4% mortgage, that would increase the reserve by 25%; but if interest rates rise, the fraction may be smaller (I remember paying over 10% mortgage...). In general, whether keeping a property for long term rental income (with the potential for appreciation - but prices can go up and down) is a good idea will largely depend on your ability to predict future costs and value. If you have a variable mortgage, that will be harder to do. Good! The article says it was some kind of collateral protection insurance that customers were signed up for despite it being unrequired for the loan. The accusations is that WF racketeered about 800,000 loans by bundling in this bunk insurance cost as part of the loan structure. I'm glad you're not caught up in it. I am sure that laws differ from state to state.  My brother and I had to take over my dads finances due to his health.  He had a vehicle that had a loan on it.  We refinanced the vehicle and it was in our name.  One of our family members needed a vehicle and offered to take over the payment.  Our attorney advised us to be on the insurance policy with them and make sure if was paid correctly. We are in Indiana.  I know it is hard to discuss finances with family members.  However, if you co-signed the loan I think it would be wise to either have your name added to the insurance policy or at least have your brother show proof it has been paid.  If you are not comfortable with that it may be a good idea to make sure the bank has your correct address and ask if they would notify you if insurance has lapsed.  If your on the loan and there is no insurance at the very least if the vehicle was damaged you would still be responsible to pay the loan. I do not meet your qualifications but this is what I would do: 1)  Save an amount that can replace your bike and accessories if it is stolen.  Don't touch it for anything but that. 2)  Compute an average monthly cost for maintenance items, double that for a couple of months until you have the account built up, then budget that amount every month. If your bike/headlight/front tire, get stolen or broken beyond repair, take it out of the first account.  Then your savings priority should be to rebuild that account.  I would be a bit alarmed if you have to keep hitting this account for legitimate reasons. When a tire goes flat, or other normal wear and tear item occurs, take it out of the second account.  This account should fluctuate regularly, and it is normal.  During certain months you may want to increase this amount (more glass on the street because of outdoor events means more flat tires). The same kind of thing holds true for a car. Putting numbers to some figures would help. I think the most alarming thing about your post is that a theft is somewhat ordinary.  Yikes! Not sure if it is the same in the States as it is here in the UK (or possibly even depends on the lender) but if you have any amount outstanding on the loan then you wouldn't own the vehicle, the loan company would. This often offers extra protection if something goes wrong with the vehicle - a loan company talking to the manufacturer to get it resolved carries more weight than an individual. The laon company will have an army of lawyers (should it get that far) and a lot more resources to deal with anything, they may also throw in a courtesy car etc. "Your CHMC insurance is payable to the lender not to you if you default. So technically you get nothing from it. However the likelihood is that you could not have got this loan, or got it only at an extremely high interest rate, without this insurance. The Canadian government has a page on CHMC, including a link to a page called ""What's in it for you?""." Many factors really. No loans but my HOA is $240 per month. Car is $292. I keep having my bikes stolen (mine twice and girlfriend's once within the past 4 months). I hit a pothole and tore a hole in my oil pan last week, AC broke a few months ago in my condo. I just can't get ahead but I'm hopeful. The key here is that you are defacto running your own company no matter if you acknowledge it or not.  In the end these questions have the goal of deciding if you can and will repay the loan.  Presumably you filed taxes on your income.  These can be shown to the loan officer as proof you have the ability to repay your loan. Running your freelancing as a business has advantages of being able to deduct normal expenses for running the business from your revenue. I am not sure how business cards improves your credit worthiness as they can be had for $10 in about an hour. Are you interested in refurbishing your rented home here in Singapore? If you are struggling with financial difficulties, you can apply for a renovation loan offered by banks. Most banks in Singapore offer renovation loans and home loans only to those who own a property. It is very hard to find a renovation loan for a rented home.  **Home loans for renovation**  You can take a home loan for your rented property and top up your home loan to finance your renovation project. If you already have a home loan, all you need to do is ask your bank representative to add extra financing to your [home loan](https://www.bankbazaar.sg/home-loan.html) for renovation purpose. Applying for a home loan for a rented property is simple. You can use an online loan calculator and compare home loans provided for a rented property. According to your repayment capacity and financial requirements, you can choose a home loan and use it for renovation. Make sure you have a good credit score while applying so that your home loan gets approved easily.  **Personal loans for renovation**  If you are not able to find too many home loans or renovation loans for rented property, you need not worry. Have you considered taking a personal loan to make awesome home improvement measures? That’s right; you can apply for a personal loan and use the funds to renovate your abode. The best thing about a personal loan is that a lender does not enquire about the purpose for your loan application. So, you can use your personal loan for any of your needs.  *Eligibility criteria for personal loans*  The general criteria to be qualified for a personal loan in Singapore are: The applicant should be 21 to 65 years old. The applicant should be a Singaporean or a permanent resident or a foreigner. The minimum income requirement for a Singaporean or PR is generally S$20,000 p.a. and S$40,000 p.a. for a foreigner.  **When are personal loans ideal for renovation?**  There are a few situations when a personal loan is the best option for renovating your rented property: Many banks give personal loans with attractive promotions such as interest-free loan for a certain period. You can take this loan and even repay the full amount before the zero-interest period expires. This will help you save efficiently on your renovation project. The minimum income required to secure a home loan is generally higher than the income requirement for a personal loan. Hence, a personal loan is a better option. A home loan generally gives a higher sum of money than a personal loan. This high amount is suitable for a construction project but will be excessive for renovation work. Therefore, it makes more sense to apply for a personal loan to give the perfect makeover to the kitchenette in your home. The approval process for a home loan is typically very lengthy. Personal loan applications get approved within 24 hours by most banks in Singapore. So now you can apply for a personal loan without any tension and remodel your balcony to have a party at home sweet home! Personal loan rates are generally lower than home loan rates. You can refurbish your living space by paying your loan at an interest rate not more than 4%. Now, you would have got a fair idea about how to finance your remodelling work. Always remember to enquire about every loan’s terms and conditions. Never sign any loan contract without being absolutely clear about the loan’s features. Very generally speaking if you have a loan, in which something is used as collateral, the leader will likely require you to insure that collateral.   In your case that would be a car.  Yes certainly a lender will require you to insure the vehicle that they finance (Toyota or otherwise).  Of course, if you purchase a vehicle for cash (which is advisable anyway), then the insurance option is somewhat yours. Some states may require that a certain amount of coverage is carried on a registered vehicle.  However, you may be able to drop the collision, rental car, and other options from your policy saving you some money. So you buy a new car for cash ($25K or so) and store the thing.  What happens if the car suffers damage during storage?  Are you willing to save a few dollars to have the loss of an asset?  You will have to insure the thing in some way and I bet if you buy the proper policy the amount save will be very minimal. Sure you could drop the road side assistance, rental car, and some other options, during your storage time but that probably will not amount to a lot of money. Yes you will need an emergency fund for the rental. Besides appliances, or a roof, that might need to be replaced, you will also have to protect against being unable to rent the unit.  Another risk is that you may have a tenant damage the unit. While you can get the money through the courts it may take months or longer. You can't wait for the money before you repair the unit. Keeping the rental unit funds separate from the rest of your funds will allow you to make sure you are adequately protecting yourself. The loan is very likely to be syndicated, yes. I only state 7-10 because all of our loans to this point have been 7 year terms. And in many ways, this loan is just one of those loans, multiplied out in a modular sense. My credentials: I used to work on mortgages, about 5 years ago. I wasn't a loan officer (the salesman) or mortgage processor (the grunt who does the real work), but I reviewed their work fairly closely. So I'm not an absolute authority, but I have first-hand knowledge. Contrary to the accepted answer, yes the bank is obligated to offer you a loan - if you meet their qualifications. This may sound odd, and as though it's forcing a bank to give money when it doesn't want to, but there is good reason. Back in the 1950's through 1980's, banks tended to deny loans to African Americans who were able to buy nicer homes because the loan officer didn't quite 'feel' like they were capable of paying off an expensive house, even if they had the exact same history and income as a white person who did get approved. After several rounds of trying to fix this problem, the government finally decreed that the bank must have a set, written criteria by which it will approve or decline loans, and the interest rates provided. It can change that criteria, but those changes must apply to all new customers. Banks are allowed a bit of discretion to approve loans that they may normally decline, but must have a written reason (usually it's due to some relationship with the customer's business (this condition adds a lot of extra rules), or that customer has a massive family and all 11 other siblings have gotten loans from the same loan officer - random rare stuff that can be easily documented if/when the government asks). The bank has no discretion to decline a loan at will - I've seen 98-year-olds sign a 30-year mortgage, and the bank was overjoyed because it showed that they didn't discriminate against the elderly. The customer could be a crackhead, and the bank can't turn them down if their paperwork, credit, and income is good. The most the loan officer could do is process the loan slowly and hope the crackhead gets arrested before the bank spends any more money. The regulations for employees new to the workforce are a bit less wonderful, but the bank will want 30+ days of income history (30 days, NOT 4 weeks) if you have it. BUT, if you are a fresh new employee, they can do the loan using your written and signed job offer as proof of income. However, I discourage you from using this method to buy a house. You are much, much better off renting for a while and learning the local area before you shop for a house. It's too easy to buy a house without knowing the city, then discover that you have a hideously slow drive to work and are in the worst part of town. And, you may not like the company as much, or you may not be a good fit. It's not uncommon to leave a company within a year or two. You don't want a house that anchors you to one place while you need the freedom to explore career options. And consider this: banks love selling mortgages, but they hate holding them. They want to collect that $10,000 closing fee, they couldn't care less about the 4% interest trickling in over 30 years. Once they sign the mortgage, they try to sell it to investors who want to buy high-grade debt within a month. That sale gives them all the money back, so they can use it to sell another mortgage and collect another $10,000. If the bank has its way, it has offloaded your mortgage before you send the first payment to them. As a result, it's a horrible idea to buy a house unless you expect to live there at least 5 or 10 years, because the closing costs are so high. "Without knowing the details of your financial situation, I can only offer general advice.  It might be worth having a financial counselor look at your finances and offer some custom advice.  You might be able to find someone that will do this for free by asking at your local church. I would advise you not to try to get another loan, and certainly not to start charging things to a credit card.  You are correct when you called it a ""nightmare.""  You are currently struggling with your finances, and getting further into debt will not help.  It would only be a very short-term fix and have long-lasting consequences.   What you need to do is look at the income that you have and prioritize your spending.  For example, your list of basic needs includes: If you have other things that you are spending money on, such as medical debt or other old debt that you are trying to pay off, those are not as important as funding your basic needs above. If there is anything you can do to reduce the cost of the basic needs, do it.  For example, finding a cheaper place to live or a place closer to your job might save you money.  Perhaps accepting nutrition assistance from a local food bank or the Salvation Army is an option for you. Now, about your car: Your transportation to your job is very much one of your basic needs, as it will enable you to pay for your other needs.  If you can use public transportation until you can get a working car again, or you can find someone that will give you a ride, that will solve this problem.  If not, you'll need to get a working car. You definitely don't want to take out another loan for a car, as you are already having trouble paying the first loan.  I'm guessing that it will be less expensive to get the engine repaired than it will be to buy a new car at this point.  But that is just a guess.  You'll need to find out how much it will cost to fix the car, and see if you can swing it by perhaps eliminating expenses that aren't necessary, even for a short time.  For example, if you are paying installments on medical debt, you might have to skip a payment to fix your car.  It's not ideal, but if you are short on cash, it is a better option than losing your job or taking out even more debt for your car. Alternatively, buying another, functional car, if it costs less than fixing your current car, is an option.  If you don't have the money to pay your current car loan payments, you'll lose your current car. Just to be clear, many of these options will mess up your credit score.  However, borrowing more, in an attempt to save your credit score, will probably only put off the inevitable, as it will make paying everything off that much harder.  If you don't have enough income to pay your debts, you might be better off to just take the credit score ding, get back on your feet, and then work to eliminate the debt once you've got your basic needs covered. Sorry to hear about your situation.  Again, this advice is just general, and might not all apply to your financial details.  I recommend talking to the pastor of a local church and see if they have someone that can sit down with you and discuss your options."