Natwest loan Apr advice

valleyboy22

The issue is you apply, select dd date and sign on the agreed Apr. Oh all of a sudden natwest has changed their Apr and dd date, in which I signed for l. Over £50 a month increase in price without notice. Well something is not right

Shakin_Steve

It's pointless going around in circles on here. If they return a signed agreement at 3.4% APR then that's what you will be paying. Although the date of the DD is different to the one you asked for, you really shouldn't get bogged down arguing that point. I can't see how it will make that much difference.

jonesMUFCforever

Post 1# it was £40 more a month by post 22# it has increased to over £50 more.
Please don't post anymore, just rest tonight and tomorrow and phone them on Monday!

Ben8282

valleyboy22 wrote: »

.

Double checked this morning with them the first payment date which should be the 16th of each month and confirm the payment start date.

I was shocked to hear the dd date was changed and also the monthly installation had gone up £40 more also. I questioned both and was told natwest changed Apr and date of payment date.

Its monthly instalment not monthly instillation!
I am curious as to why you called them very early his Sunday morning to confirm these things. It could be that you were just making sure or it could be that you had cause to call them to ask these questions.
When and how were you told that the dd date would be the 16th? Is this something you selected yourself or were you informed somehow? What day of the month has it been changed to? It could be that the dd is taken on the same date as the loan was taken out or something like that which is automatic.
As to the changed amount, this is of course not allowed. If you have a credit agreement stating x months at £y per-month then that is what you must pay. They cannot change this.

Shakin_Steve

Ben8282 wrote: »

Its monthly instalment not monthly instillation!
I am curious as to why you called them very early his Sunday morning to confirm these things. It could be that you were just making sure or it could be that you had cause to call them to ask these questions.
When and how were you told that the dd date would be the 16th? Is this something you selected yourself or were you informed somehow? What day of the month has it been changed to? It could be that the dd is taken on the same date as the loan was taken out or something like that which is automatic.
As to the changed amount, this is of course not allowed. If you have a credit agreement stating x months at £y per-month then that is what you must pay. They cannot change this.

He didn't say instillation

valleyboy22

Thanks for the reply.

I always double check things if trying to get a deal if my tv package etc is up, so I can clarify over the recorded call again to make sure.
I did this because we borrowed over 10k and wanted again to double check details.
When I applied, you normally get a dd date in which I put the 16th because I get paid on the 15th of each month, but now its the 5th of each month?
Our credit agreement clearly states the Apr, and monthly payments in black and white and the blue agreement form which we both signed said it. Nothing was signed regarding a different Apr and a higher monthly payment except from the 3.4aor agreement we had signed.

valleyboy22

Well turns out natwest has processed 3 applications by error, so they are looking into it. He did mention if the 3.4 Apr has been signed thrn they will honour it. We will see tomorrow

foxy-stoat

Hopefully you will be ok but I have just taken out a Natwest loan @ 3.4% and the blue "agreement" form I signed and returned isnt a binding agreement, it says so on the paperwork.

Its just an offer that they may well change following a full application.

Best of luck

valleyboy22

Ahh right. They rang me back today saying it was an error their side and for some reason our application had been processed 3 times? I should have the amended agreement in the next few days they said and do not touch the money until they ring back to confirm its all ok.

By the way where does it say on the blue form it is not a binding agreement?

foxy-stoat

valleyboy22 wrote: »

By the way where does it say on the blue form it is not a binding agreement?

On the back of it where it says:
"This document is not an offer and we are not bound by its contents"

Good that they admitted they made an error and giving you the lowest rate.