Can you withdraw from a loan application once it's been signed?

shazzm

I signed a loan application with my bank, but at their suggestion, looked around and found a better option. I then tried to cancel the application, but they've told me I can't stop the it once it's been signed.
This has resulted in a credit check being made, which obviously I don't really want on my history.

Is this right? I know you cancel the loan within 14 days, but I can't find any information about cancelling the application before you even get there.

immoral_angeluk

Where did you sign the agreement?

CHR15

Is the better option you found guaranteed at that rate?

iolanthe07

If you signed it on their premises than, afaik, there is no cooling off period. If you signed it at home you have 14 days.

Apples2

immoral_angeluk wrote: »

Where did you sign the agreement?

At the bottom by the box which said SIGNATURE... :cool:

shazzm wrote: »

This has resulted in a credit check being made, which obviously I don't really want on my history.

I don't think you will have any joy with the search. They did perform the search based on your application.

There is a real risk that your other provider have just given you a Typical apr. The rate actually offered may be quite different.

immoral_angeluk

Apples2 wrote: »

At the bottom by the box which said SIGNATURE... :cool: