Beware of rates offered on the net

Grommit07

A couple of days ago I applied for an Alliance & Leicester (Santander) loan on a link from this site. The APR advertised was 7.8%, I completed the form and submitted it. I immediately received a receipt via e-mail from Santander telling me that a decision would be made soon. My application was successful and received the paperwork today, Unfortunately the rate had changed to 14.9% with and increase of £15 per month. Santander are along with money supermarket.com conning people into thinking they have the cheapest rate, until the paperwork arrives. Upon contacting Santander I was told this was the rate offered following credit checks. I own my own home, have no outstanding loans, have had several loans previously and never missed a payment, have been married for over 26yrs, have no dependant children and have a secure job. what a con.

dmg24

Perhaps you need to learn to read what you are applying for?

*8.9% APR is our typical rate for loans £7,500 to £14,950 entered into through this source. We will review your past credit history and other personal details and the actual rate we offer may be higher depending on our assessment of your personal circumstances and financial behaviour.

t121anf

can't say the same.

i applied for the same loan and have today returned my loan papers today for 7.8% (which was the advertised rate)

Grommit07

Yes it is. Until the paperwork arrives you are led to believe that the rate offered on the net is the one you pay. its a con

Grommit07

dear DMG24, how come my credit rating is poor when I am a really low risk, with an excellent credit history.

dmg24

Grommit07 wrote: »

dear DMG24, how come my credit rating is poor when I am a really low risk, with an excellent credit history.

Did I say your credit rating was poor?

Yet another example of where you do not read the information that is in front of you!

Grommit07

PS Jill. How do you come to that conclusion. I am a really low risk with an excellent credit history. its still a con

Grommit07

DMG 24 you obviously work in the bank in question. the public bailed you out and now you are conning us.

BargainGalore

How do you come to that conclusion then bright spark

Grommit07 wrote: »

DMG 24 you obviously work in the bank in question. the public bailed you out and now you are conning us.

dmg24

Grommit07 wrote: »

DMG 24 you obviously work in the bank in question. the public bailed you out and now you are conning us.

I don't work in a bank.

Please show us where it says you would be offered a loan at 7.8%?

Grommit07

The figures were tailored and shown following information in-putted on Santanders site.