Fixed APR has been changed???

pigsmightfly

Consumerist wrote: »

Your statements should indicate the interest charged each month. If the amount of interest charged did not increase after the "rate change" then it is probable that Santander didn't charge the increased rate. In fact, the interest charge should get slightly smaller each month as the outstanding balance reduced over the term.

You could use the MSE loan calculator to check the numbers.

Hope this helps.

Thanks Consumerist, will take a look at that and see if I can work it out

opinions4u

It's 7 months.

£100 equates to less than 50p a day. They should have resolved this within weeks of you identifying the problem.

I would respectfully ask for more on the basis that they have taken far too long to resolve it.

You may not want to, and that's your call. I can understand somebody not wanting to lengthen the battle any further.

Regardless, delighted you appear to have got the actual issue resolved. I hope they are fixing it and compensating other customers who must be affected too.

Paddy2eyes

Bank error in your favour- collect £100

pigsmightfly

opinions4u wrote: »

It's 7 months.

£100 equates to less than 50p a day. They should have resolved this within weeks of you identifying the problem.

I would respectfully ask for more on the basis that they have taken far too long to resolve it.

You may not want to, and that's your call. I can understand somebody not wanting to lengthen the battle any further.

Regardless, delighted you appear to have got the actual issue resolved. I hope they are fixing it and compensating other customers who must be affected too.

Thanks, I totally agree with you, its been ages and is something so simple it should have been noticed....or not happened in the first place.

If I ask though and they say no, will I lose this offer of £100?

Consumerist

pigsmightfly wrote: »

If I ask though and they say no, will I lose this offer of £100?

A bird in the hand is worth two in the bush.

My own view is that although you have been put to some inconvenience, you don't appear to have lost any money. If the possibility of losing the original £100 offer bothers you then why do you need the extra hassle over a possible few quid more. If the Ombudsman recommends acceptance then I'd be inclined to take it.

If it helps, don't forget it has cost Santander a lot more in fees to the FOS.

pigsmightfly

Consumerist wrote: »

A bird in the hand is worth two in the bush.

My own view is that although you have been put to some inconvenience, you don't appear to have lost any money. If the possibility of losing the original £100 offer bothers you then why do you need the extra hassle over a possible few quid more. If the Ombudsman recommends acceptance then I'd be inclined to take it.

If it helps, don't forget it has cost Santander a lot more in fees to the FOS.

Thanks, well said

Consumerist

Sounds like a result then. Well done for seeing it through. :beer: