Lender not honouring better rate

twoforapound

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. 

impoverishedtraveller

None.     

MalMonroe

Before raising a complaint did you phone them to ask whether you could also benefit from the better rate? It's always worth making an enquiry, even if they decline to tell you the full reason. 

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?

[Deleted User]

100% eligibility on MSE site is not the same as 100% from the lender, nor will it guarantee you will get 5.7%