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keithm68
Hi,folks,juat a word of warning,i recentley applied for a loan with santander,whom i bank with,when i applied,the rate said 8.4%,great thinks i,this will save my a fortune,my loan documents arrived this morning,the apr is 14.5%!!That is more than im paying mycredit card/other loan,so be aware,the apr advertised means NOTHING!!!11:(:mad:
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Comments
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That's the typical rate - no-one is guaranteed to get that rate. ALL loans are offered in the same way. Typical rate has to be offered to 66% of applicants.
You clearly didn't meet their requirements. The alternative to offering you a higher rate is to simply reject your application altogether.
If you don't like the rate you've been offered then don't take the loan. *simples*My posts are my own opinions based on my experiences and info gathered from sites such as this.
They are not a substitute for professional financial advice - but you knew that already didn't you?
VSP 2011 - Member #25 - Started 6th December 2010 - Total As Of 4th May 2011 (21 weeks in!) - £323.67/£500 - So far so good!0 -
the apr advertised means NOTHING!!!11
That's not true. The APR advertised has to be offered to around two thirds of applicants (changing to 51% soon, I believe).I used to think that good grammar is important, but now I know that good wine is importanter.0 -
Good topic title!0
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Apples2....0
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