Rob R
Member
Registered: 31st May 03
Location: Kent
User status: Offline
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Just been up to the bank to see about getting a loan to fund a new car.
Had a loan with them before, borrowed £7.5k over 4 years and paid it off after 2, never been in my overdraft let alone over my overdraft limit and was told I'm regarded as one their "safest" customers.
Went to borrow £8k over 4 years and the interest rate they came back with was 18.9%! That was after the branch manager phoned up, was 19.9% originaly! I mean I know the economy isn't in the best state at the moment but I'd be better off buying the car on my credit card!
So in summary....bollocks....
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Steve
Premium Member
Registered: 30th Mar 02
Location: Worcestershire Drives: Defender
User status: Offline
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My bank whinge for the week is they apparently sent me out a new Visa card to replace my Maestro, but i never received it, my Maestro card doesnt expire until 2011, but because they apparently sent out a new Visa card to replace its been cancelled, now im left with no access to my fund for 3-4 days great.
There solution: you can go into a bank and withdraw funds over the counter.
Really? i work 9-5, the bank is further away then my lunch break allows, how do they expect me to withdraw funds?
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stubbsy05
Member
Registered: 23rd Oct 02
User status: Offline
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Check moneysupermarket for loans. Being loyal to a bank rarely benefits you.
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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I just got offered one at 11.9%, really want it to be under 10 though, ive applied for another & been accepted. Just waiting on the paper work coming through to see what they can offer me.
Its piss that they get to advertise 8.9% etc then you get accepted & think great its on then the doc's come through & you've been offered it at a higher APR.
Try somewhere else, maybe avoid your bank , my banks useless for borrowing, Ive tried Santander & Tesco now.
Only going to take it if it falls under 'my' terms.
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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quote:
Originally posted by Steve
My bank whinge for the week is they apparently sent me out a new Visa card to replace my Maestro, but i never received it, my Maestro card doesnt expire until 2011, but because they apparently sent out a new Visa card to replace its been cancelled, now im left with no access to my fund for 3-4 days great.
There solution: you can go into a bank and withdraw funds over the counter.
Really? i work 9-5, the bank is further away then my lunch break allows, how do they expect me to withdraw funds?
You should send the manager a jobbie in a box tbh.
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Rob R
Member
Registered: 31st May 03
Location: Kent
User status: Offline
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quote:
Originally posted by Colin
I just got offered one at 11.9%, really want it to be under 10 though,
Its piss that they get to advertise 8.9% etc then you get accepted & think great its on then the doc's come through & you've been offered it at a higher APR.
Try somewhere else, maybe avoid your bank
I don't want to keep applying for finance as it will keep going down on my credit scoring. I'll just be patient I think.
Sainsbury's, Nationwide and Alliance & Leicster are advertising the lowest rates at the moment at 7.8% but obviously what the offer you will depend on your circumstances.
I remember on my first loan when I was paying 5% interest!
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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You sure your 1st loan wasnt quoted as a flat rate instead of APR??? Theres never been 5% APR loans as long as ive been on gods beardy faced earth.
Applying for another shouldnt make any difference. Just make sure you dont submit any more than that.
Also look at what other credit is available to you & may be unused. High overdraft facilities & credit car limits & even old unused cards that havnt been cancelled can have a negative impact.
At one point I had a £4k overdraft & 3-4 cards with balances ranging from 500 - 3500 all lying unused....this goes against a loan application in a big way!!
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Xs
Member
Registered: 12th Apr 02
Location: Lanarkshire
User status: Offline
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They always do this, they advertise low rates but hit you with higher. I agreed to take a loan a while back and when the paperwork came in as said the APR was about 4% over what was agreed on the phone. I told them to ram it and ended up not taking the loan.
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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Being loyal to banks means sod all. I was with natwest since 16, i'm now 22 and they couldn't get anywhere near halifax on my mortgage rate. Wankers the lot of them.
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Steve
Premium Member
Registered: 30th Mar 02
Location: Worcestershire Drives: Defender
User status: Offline
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its because there is no longer any discression, ie. you cant talk to your bank manager directly and come up with a deal because you are a loyal customer, they just go with whatever the system says
[Edited on 14-06-2010 by Steve]
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Likewise Halifax were shit for a mortgage for me & Jade who are both customers (3x current account's, 2x savings accounts, cards & loans in the past). Alliance and leicester who we had never done a turn of business with before blew them out of the water!!
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