M&S 6% Loan misleading advertising

somethingcorporate

LovelyLeeds wrote: »

I couldn't agree more, it's very slick marketing and of course they also 'hope' that you don't notice the hike they impose. Of course people will argue that you should read the T&Cs - but hand on heart - how many of us really actually read every single line, let alone actually understand it.

There is not reading the T&Cs in their entirety and then there is not checking the key things of your contract i.e. term, rate, amount, termination rights, ERCs.

I think the first is probably excusable to a certain degree but there really is no excuse for not checking the particulars when they govern how much you pay, when and for how long. Fortunately the OP had the good sense to do this!

It is pretty shocking that the help section does not include the marketing wording they use - there is absolutely no excuse for that!

iolanthe07

but hand on heart - how many of us really actually read every single line, let alone actually understand it.

I do - and I ask if I don't understand something. I realise this is a bit anal, but a lot of heartache could be avoided if others did too. After all, any sort of contract can be an expensive long term commitment.

Epiphone

So if a ender offers a loan at a higher rate do you have to confirm acceptance or do they just transfer the money into your bank account and assume you still want the loan?

Peelerfart

YorkshireBoy wrote: »

And again here...

If you type "representative" in the 'ask Hannah' virtual assistant she replies "I'm sorry I don't understand".

I've asked Hannah all kinds of things and got the same response!

Maybe I should just stick to financial matters