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  • FIRST POST
    • Angryharry
    • By Angryharry 31st Aug 17, 6:10 PM
    • 2Posts
    • 1Thanks
    Angryharry
    TSB Loan offer
    • #1
    • 31st Aug 17, 6:10 PM
    TSB Loan offer 31st Aug 17 at 6:10 PM
    TSB proudly advertise a personal loan rate of 2.9% which gets them to the top of most comparison websites and one of the first offers you’ll come across when searching “cheap loans”. Don’t be fooled by this however its all a con trick! As a loyal customer of over 15 years, with an impeccable credit rating and a considerable amount disposable income, I failed to get an offer which came anywhere close to that impressive 2.9%. After logging into my account and filling out their loan calculator I was unable to receive a personalised rate of anything below 15%! That despite trying every single combination of amount, term and loan purpose. I strongly suggest that you ignore this headline loan offer and save yourself the time and effect of being disappointed. I did phone their loan help line but they were unable to tell me exactly what criteria would result in a personalised offer of 2.9%.
Page 2
    • anto164
    • By anto164 7th Sep 17, 10:36 PM
    • 114 Posts
    • 55 Thanks
    anto164
    First Direct do this. They absolutely splash their 3.2% all over their website. I've been with FD for YEARS and have never managed to get the lowest rate. And I've done loans of £25k, £20k, £10k etc etc and the best rate I have managed is 7.5%. I've never defaulted, never missed a payment. I kind of understand them luring people into the process with the lower rate splash but wouldn't they be better off say advertising the intermediate rate of 7.5% and then 'surprising and delighting' those they consider suitable, with the lower rate?

    Its like the FD mortgage calculator - mean have you seen it? Put in what you earn and see what they 'could' lend as a mortgage. What is the point of that calculator? No-one will ever get those loans.
    Originally posted by Steve_GP220
    Errrm, i got the headline rate when i got a FD loan earlier this year
    • Stratshell
    • By Stratshell 10th Sep 17, 11:58 AM
    • 1 Posts
    • 0 Thanks
    Stratshell
    Had the same with M&S too. Wasn't advised of the rate change (8.8% on £10k for a car) until the paperwork arrived.

    I have an impeccable credit rating and longevity in terms of house (with high level of equity) and job, plus a good level of salary with plenty of disposable income. Makes me wonder just what you do need to get the 2.8% :-(
    • gnioto
    • By gnioto 10th Sep 17, 9:30 PM
    • 38 Posts
    • 9 Thanks
    gnioto
    I am a lloyds customer and applied for a few loans with them at the advertised rates. As I was continually going into an unapproved overdraft the rates were regularly 15-25% For the last year I've remained in my credit limit and have just been approved a loan at 2.9%
    • DCFC79
    • By DCFC79 10th Sep 17, 10:28 PM
    • 29,965 Posts
    • 18,976 Thanks
    DCFC79
    Had the same with M&S too. Wasn't advised of the rate change (8.8% on £10k for a car) until the paperwork arrived.

    I have an impeccable credit rating and longevity in terms of house (with high level of equity) and job, plus a good level of salary with plenty of disposable income. Makes me wonder just what you do need to get the 2.8% :-(
    Originally posted by Stratshell
    Well if lenders go by your credit rating then you should have been accepted.

    BUT

    Lenders dont see your rating they see your credit history.
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
    • ReadingTim
    • By ReadingTim 11th Sep 17, 12:50 PM
    • 2,000 Posts
    • 2,917 Thanks
    ReadingTim
    I have an impeccable credit rating and longevity in terms of house (with high level of equity) and job, plus a good level of salary with plenty of disposable income. Makes me wonder just what you do need to get the 2.8% :-(
    Originally posted by Stratshell
    It's a commercially sensitive decision, so you'll never know, and will depend on what the lender's strategy and target customer is.

    For example, the bank may think your income/wealth means there's limited opportunities for cross-selling its other products, which may be marketed at a less affluent customer.
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