Bank of Scotland Loan 6%

turbo

Don't bother applying for Bank of Scotland's 6% loan. Our credit cards are paid off in full every month. We have no debts and we were offered 7% after giving all our detais online. Wish we hadn't bothered.

tommy_a

Same thing happened to me, I filled in the form and at the end was asked to ring them to discuss my details, within 20 seconds of the phone call I was offered 7%. Turned it down.

BillyT_2

your lucky i have no debts and was offered 10%

kitty17

I was offered 9% dont know why they advertise these offers. Is there anyone out there who has secured the 6% or is it just a gimmick?

juliusceasor

I completed all the online form filling was about to send it off when I noticed the amount I would be paying didn't add up to 6.1% Borrowing 10,000 they calculated I would be paying 307.18 per month not the £304.67 I calculated it to be.

Therefore at their monthly rate I would be paying a smidgen over 6.65% how can that be right? Anyone else notice this before they appplied?

Needless to say I haven't bothered submitting the application if they can lie before submission, therefore I think it is unlikely anyone gets the 6.1% offered!!

linnping

ํYou're so lucky. I was offered 8%.

juliusceasor

linnping wrote: »

ํYou're so lucky. I was offered 8%.

I think you mis read, my point was I don't know what they would offer me because before submitting to find out, their calculation for what I should pay despite showing the rate of 6.1% was in fact 6.65%

I suspect they have added in a fee for either paying the loan by CHAPS or some similar bill for something because it works out around £82 added to the original loan if the rate is truly at 6.1%.

Perhaps someone else can go through the loan without submitting it to see if they can see anything being added on?

So far though a 100% failure rate of 5 people who have applied failing to get their advertised rate. Flies in the face of their assertion a majority achieve the rate..