Lender not honouring better rate
3 replies 342 views
Recently took out a loan for home improvement. Needed funds quickly, shopped around and waited for as long as possible before applying through Clearecore to Ratesetter. I was 100% eligible and received 10.9% apr.
I’m within the 14day cooling off period and I had an inkling that my offers might have slightly improved so I had a look to see what I’d be offered now. The MSE loan website is now showing me 100% eligibility for exactly the same loan except at 5.7%apr.
This equates to £2.5k less interest over the period.
I’ve raised a complaint citing their clause that they may change the agreement if this makes it ‘fairer’ to me.
What are my chances in the lender changing the terms? or any other thoughts please.
Latest MSE News and Guides
British Gas prepay meter users...
...to pay less for gas from 1 AprilMSE News
The 'odd Easter flavours' thread 2023
What bizarre food stuffs have you spied?MSE Forum
Energy Price Guarantee calculator
How much you'll likely pay from AprilMSE Tools
Is your credit report (not score, as no-one but you ever sees that) up to date and accurate? I'm assuming so as you applied via Clearscore but I'd check the others too. Experian, Transunion. Equifax runs Clearscore so that's already covered.
Worth a phone call before you withdraw your application, maybe?