Natwest loan Apr advice

valleyboy22

Sorry for the multiple posts.

Well it is naughty regardless if it was an error.

We have a written agreement for the Apr, so surely a signed copy is evidence of this.
A customer service advisor stating if a signed blue copy has been signed then we have agreed the contract.
Also they changed the direct debit date without asking and if it was an error then contact us saying this and not proceed with setting it up and placing money in our account.
So sorry this is very wrong of natwest going this and wonder how many time this has happened Mmmm?

I have sent the blue form back which was requested, but have all the additional documentation stating the Apr and payments etc.

[Deleted User]

Naughty requires intent. So no, it's not.

valleyboy22 wrote: »

Mmmm?

Very rarely.

valleyboy22

So they offer me the the 3.4 which is signed and change their mind??

[Deleted User]

No. They offer you 3.4% then incorrectly process it higher.

valleyboy22

So it's an error and should be the 3.4%?

[Deleted User]

Based on what you have said, yes.

valleyboy22

Well i hope so because I would like to know legally if my agreement I signed I can hold them to it. I will ask them to listen to my phone conversation from yesterday with the customer advisor stating I legally I have the right to the Apr if signed for it in which I did.

BakingC

If your copy of the agreement states 3.4% Apr and not just in the representative example then they have to provide you with that interest rate per the agreement. They cannot alter the interest after you have signed.

DD date is a different matter, is it the first one that has been changed or also every subsequent one as sometimes with a new agreement the DD will fall on a different date just due to timings of being able to set it up in time.

If you do not have a copy of your signed agreement ask NatWest to provide one.

From what you have said the NatWest person you spoke to did not confirm what % was on your loan only that if your paperwork said 3.4% that is the rate you should receive.

If the paperwork does not match the rate you are receiving raise a complaint.

Just be careful that you did not misread the paperwork in excitement as it would not be the first time someone misread their agreement and then complained when they realised they were not offered the headline rate.

valleyboy22

It states 3.4% on our agreement and did on the form we signed, so I will take your advice and ask for the signed copy to. It asked me a dd date when applied because I get payed the 15th of each month and stated 16th, so the 5th is a completely different date.

System

valleyboy22 wrote: »

It states 3.4% on our agreement and did on the form we signed, so I will take your advice and ask for the signed copy to. It asked me a dd date when applied because I get payed the 15th of each month and stated 16th, so the 5th is a completely different date.

Personally I don't see the issue. If they don't take the money out on the 16th and you don't spend it it'll still be there on the 5th for them to take out. Yeah OK the first month it might be a little tighter than it would be if the first payment came out after the next month's pay but you should have enough money to pay it regardless because if the loan is affordable you'd have that amount and more to spare. If you don't have the money to make the first repayment now then you're going to struggle every month because you can't afford the repayments.