TSB Loan

Hamiltonc

TSB advertising loans for 2.8% up to 25K
When I go to apply the first bit is a quote bit. For this I enter 23K and 4 years. 
This meets the criteria advertised on their site but at quote stage 9.9% is appearing. Why is this? Id expect 2.8% to appear. 
I'll contact them tomorrow too. 

DrEskimo

The first part of the application is a soft search based on just your basic personal details.

Clearly from that they already see you as higher risk than the people they are willing to offer £24k to for 2.8%.

The rate could change subject to your full application (likely just to go up, than down).

Hamiltonc

DrEskimo said:

The first part of the application is a soft search based on just your basic personal details.

Clearly from that they already see you as higher risk than the people they are willing to offer £24k to for 2.8%.

The rate could change subject to your full application (likely just to go up, than down).

Thanks, I'll see what they say too

Yahoo_Mail

Hamiltonc said:

DrEskimo said:

The first part of the application is a soft search based on just your basic personal details.

Clearly from that they already see you as higher risk than the people they are willing to offer £24k to for 2.8%.

The rate could change subject to your full application (likely just to go up, than down).

Thanks, I'll see what they say too

You're just going to waste your time and theirs. Not everyone is going to be offered the headline rate, you're one of them.

Customer services are going to say the same thing, and they don't have any power to override the system and give you the headline rate.

Clive_Woody

Hamiltonc said:

TSB advertising loans for 2.8% up to 25K
When I go to apply the first bit is a quote bit. For this I enter 23K and 4 years. 
This meets the criteria advertised on their site but at quote stage 9.9% is appearing. Why is this? Id expect 2.8% to appear. 
I'll contact them tomorrow too. 

You met their criteria for them to offer to lend you money, but at a higher rate than the typical APR.

macman

The adverts are for 2.8% representative. Only half of those accepting will get 2.8%.

DCFC79

Hamiltonc said:

TSB advertising loans for 2.8% up to 25K
When I go to apply the first bit is a quote bit. For this I enter 23K and 4 years. 
This meets the criteria advertised on their site but at quote stage 9.9% is appearing. Why is this? Id expect 2.8% to appear. 
I'll contact them tomorrow too. 

The 2.8 is just an example what you could be offered, not a dead cert, 50 to 1 everyone will get that low rate.

The 9.9% isnt bad, could be higher.

[Deleted User]

macman said:

The adverts are for 2.8% representative. Only half of those accepting will get 2.8%.

Reading several thread, it's like hardly anyone here shows up as being on the headline rate.

Maybe the headline rate borrowers are too happy to post here.

[Deleted User]

Adams18 said:

macman said:

The adverts are for 2.8% representative. Only half of those accepting will get 2.8%.

Maybe the headline rate borrowers are too happy to post here.

Of course they are. That's simply human nature.

cymruchris

Adams18 said:

macman said:

The adverts are for 2.8% representative. Only half of those accepting will get 2.8%.

Reading several thread, it's like hardly anyone here shows up as being on the headline rate.

Maybe the headline rate borrowers are too happy to post here.

Yes they will be. Those that get offered the headline rate rarely come to forums to boast about it. It's generally those that don't get the headline rate that come and ask the question as why that is. Hence you'll see more posts about not getting the headline rate than those getting it. 

Batesy1976

cymruchris said:

Adams18 said:

macman said:

The adverts are for 2.8% representative. Only half of those accepting will get 2.8%.

Reading several thread, it's like hardly anyone here shows up as being on the headline rate.

Maybe the headline rate borrowers are too happy to post here.

Yes they will be. Those that get offered the headline rate rarely come to forums to boast about it. It's generally those that don't get the headline rate that come and ask the question as why that is. Hence you'll see more posts about not getting the headline rate than those getting it. 

Or they come to the forums and continually drag up old threads because they're got turned down on eligibility checkers. Wait, never mind.