Would I get a better rate elsewhere?

wanoennogs

I will keep things as brief as possible. I need to have a full of dental implants in both my upper and lower jaw. Standard false teeth are no longer a viable option for me. The cost of the implants is £22,000. I have £5,000 and thus need to borrow £17,000.

I made an online loan application with the HSBC as I bank with them. I made the loan request to be repaid over 60 months. I was told if I didn't hear anything after 24 hours to ring up. I rang up today and was told they have delays and are currently dealing with loan applications made on the 24th of Feb.  I was told my application will be dealt with sometime next week. The advisor was able to tell me that should I be accepted for the loan the rate will be 12.9%.

Would I get a better rate going elsewhere or are all lenders going to offer pretty much the same rate? 

Why is the rate offered to me so high? Perceived risk?      

MorningcoffeeIV

The rate you are offered depends on your risk as assessed by the lender.