Pre-selected mean sweet FA! 9 December 2021 at 3:46AM in Loans 7 replies 401 views

gbhxu

Just been awarded higher rate mobility for PIP. Rather than use my award to get a car I'll never own, I decided to apply for a loan after seeing "You have been pre-selected for a loan of £45000"

Applied for £10000 and didn't get it.

Do I have any comeback against my bank?

Sncjw

Was your application based on just your pip income? 

Edi81

Somewhere there will be a subject to clause in the pre selection. 

No come back at all. 

[Deleted User]

gbhxu said:

Do I have any comeback against my bank?

No. Acceptance is subject to final checks against latest risk criteria.

Grumpy_chap

gbhxu said:

"You have been pre-selected for a loan of £45000"

I am amazed that anyone receives "pre-approved" marketing for £45k - that is absolutely huge!

mcpitman

Grumpy_chap said:

gbhxu said:

"You have been pre-selected for a loan of £45000"

I am amazed that anyone receives "pre-approved" marketing for £45k - that is absolutely huge!

I'll go with £4.5k with a misread extra "0" on the end.

Unsecured loans of over £25k are rare if not impossible to get.

Grumpy_chap

mcpitman said:

I'll go with £4.5k with a misread extra "0" on the end

That's entirely plausible, but would also totally explain the OP's gripe:

gbhxu said:

Applied for £10000 and didn't get it.

Do I have any comeback against my bank?

The bank can't be liable for a misreading of the marketing communications.

superbigal

You did not apply for what you were offered also seems fairly obvious.