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Significantly Different Loan APR Rate Offers
Wicked_Doddy
Posts: 2 Newbie
in Loans
I used the 'Loan Eligibility Calculator' at moneysavingexpert.com and applied, via the links given, for the 'top of the list' lowest rate with Cahoot at 3.84%. I received an email from Santander (Cahoot are a division of Santander UK plc) offering me a loan at 17.9% APR and was advised "This rate is based on an assessment of your
disposable income and outgoings plus a credit check conducted with one or more
credit reference agencies." I was unhappy with their assessment and so, via the 'Cheap Personal Loan' pages at moneysavingexpert.com, I found John Lewis Finance loan for 3.6% APR which required an application direct to the lender. I made this application and was accepted. Don't just accept the first rate you are offered without question, especially if you believe it to be too high for your risk profile.
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Comments
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How many days ago did you apply for the John Lewis one ?0
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I applied for the John Lewis one yesterday so on Sunday 05/07/20.0
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Thanks OP but thats well known.
Maybe you ticked all the boxes at John Lewis.0 -
@Wicked_Doddy Did this loan go through okay ?0
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