Help apr confusion

WANABEASAVER

I Have applied for an addional loan with my morgage company, whom have quoted at variable rate of 4.99%
it then says overall cost for comparison is 6.5% apr

on the original flyer sent to my house it said 4.99% with a comparison of 5.3% apr, then I got another letter a few days later with the same variable rate at a comparison on 6.3%.

I contacted the morgage company and spoke to 3 different advisers who couldnt explain why the rate changed and refered me to managers who have still not replied! can any one shed light on this issue please?

theartfullodger

You are in one of following 2 situations... ..
a) Mortgage company is incompetent and doesn't know what it is doing (This is normal btw in my experience).
b) You can't communicate clearly with them.
Obviously it must be "a".

No offence but with a name of " WANABEASAVER " but you are applying for another loan - are you clear about what you want and how to go about it??

Cheers!

Lodger

Robert_Sterling

Wanabeasaver wants to save money by borrowing at a more competitive APR.