Would I get a better rate elsewhere?

wanoennogs Forumite Posts: 11
First Post
edited 3 March at 7:49PM in Loans
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?      


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