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Loan second quote/contract sent??

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Hi guys,
Just a quick question, I was accepted for a loan with a reputable and mainstream company.
I was accepted for 8000 loan over 71 months at £120.70 a month at 2.8% fixed rate, total payable of £8690.40. I've signed the contract as requested and returned it in the post, money in the bank and a letter of acknowledgement received that everything was setup and running.
Then a week later I've received another contract to sign and return but this time saying that I would be paying £131.26 per month for 71 months, total payable of £9450.72, so I thought WHAT? I've already signed, returned and had the acknowledgment from the bank so why am I receiving the same contract but with different figures??
I'm not an expert on money but I suspect that I've already agreed and signed a contract so why should I sign again?.
Many thanks for your time and appreciate your imput in order to make sense of this, cheers.

Comments

  • Is this sorted now?

    I wouldn't overthink it, it sounds like an admin error, but you could call the provider to check - it won't over-ride your existing, cheaper quote which you accepted in good faith, especially given that you've had the money!
    Worker in, and passionate advocate of, the credit union movement. I don't speak for the sector or for any individual CU. My opinions & experiences are my own.

    Search MSE for more info about CUs and find ones that cover your area by searching online for 'find your credit union'.
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