TSB offered lower APR over ph

continualdiamond

Anyone else had this recently?

I rang the TSB just to enquire how much it would be to repay my loan (at the time was looking to get over 100% mortgage and pay loan off).

After i was told the amount, the person then told me they could get me a lower APR and reduce my repayments by £20 a mth. Great, i thought...

Well the decision came back as no, but i was then told they couldn't see why because i wasn't extending the term or adding more borrowings to it, so when i got the letter in the post, i was to go to my local branch, where they would 'push' the loan through at the lower APR.

I go to my local branch and im told, nothing like that exists, they do not change existing customers APR. The branch were simply lost for words, they didn't know what to say at all and were deeply sorry for customer support offering a product they just don't do.

Anyone else had this offered? I really do hope not, i found it very unprofessional.

Tallymanjohn

I'll bet it was someone accidentally offering you a reduction which is usually only offered to customers threatening to leave - it's the way all business is going these days, charge current customers as much as possible, offer lower rate incentives for new customers, & only lower the rates if it looks like they may lose you........... that's business I suppose!

jonesMUFCforever

There is a business retention unit but it will only act on proof that you have been accepted for a loan elswhere ie a copy of the loan agreement or CCA waiting to be signed.
You may of course want to apply elswhere anyway as if they offer you a cheaper rate you can't lose can you?