Lloyds Offer on Loan Mis-selling

daiwilliams

haha, thought so. Just seen your other posts.

Appreciate your point though. However, banks look to make money, but they lose out when their processes and systems that help them make their decisions do not support good decisions. Add a salesperson, sorry, I mean financial advisor who stands to make a good commission from a sale ... I think we've got the makings of a banking crisis here.

What would have happened if I just decided to go down the route of not paying it at all? The bank would have lost significantly more? I've highlighted the issues with the sale of the loan, and they have admitted it.

Wouldnt it have just been better for me to have gone in, asked for a loan, and their response would have been - "looking at your income and outgoings, we cant offer you what you have asked for, but we can offer you this" ... never happens though does it?

Is there a responsibility on my side? Yes of course there is. but I dont have a clue about how they calculate interest, PPI and repayments until you are there and everything is printed out waiting for you to sign.

So there you go, Lloyds have admitted the issues, so I will wait until someone with something constructive to say has a look at this.

Thanks for your comments though.

vaporate

daiwilliams wrote: »

haha, thought so. Just seen your other posts.

Appreciate your point though. However, banks look to make money, but they lose out when their processes and systems that help them make their decisions do not support good decisions. Add a salesperson, sorry, I mean financial advisor who stands to make a good commission from a sale ... I think we've got the makings of a banking crisis here.

What would have happened if I just decided to go down the route of not paying it at all? The bank would have lost significantly more? I've highlighted the issues with the sale of the loan, and they have admitted it.

Wouldnt it have just been better for me to have gone in, asked for a loan, and their response would have been - "looking at your income and outgoings, we cant offer you what you have asked for, but we can offer you this" ... never happens though does it?

Is there a responsibility on my side? Yes of course there is. but I dont have a clue about how they calculate interest, PPI and repayments until you are there and everything is printed out waiting for you to sign.

So there you go, Lloyds have admitted the issues, so I will wait until someone with something constructive to say has a look at this.

Thanks for your comments though.

My post wasn't surpose to sound coy or mean by the way.

Just my take on your story.