Premium rate phoneline for loan?

bella86

It is so obvious not to call a company back on a premium rate phone line?
They advised me that as a legality they would need to process my application and to do so i need to call the 090 number, which will act like a admin fee and be cheaper than other companies and if they cant find a loan, the call is refundable.

They said they were welcome finance

Is this a normal way to apply for a loan?
Obviously if i get my loan they get there bit which is fine, but is it refundable?

Haven't had a loan before and just been swindelled by tenant loans :[

Any advice would be great thank you!

Claire

CLAPTON

basically if you need to pay an admin fee or phone a premiun rate number then you can be sure the interest rate will be very high indeed

avoid

go to you bank or look at martins section on loans and try for a low APR loan.

jonesMUFCforever

Did they advise you at the beginning of the call how much the charge was going to cost you per minute.
If not then by asking you to phone an 09 number they have broken the law (I think).

chuckles1066

bella86 wrote: »

It is so obvious not to call a company back on a premium rate phone line?
They advised me that as a legality they would need to process my application and to do so i need to call the 090 number, which will act like a admin fee and be cheaper than other companies and if they cant find a loan, the call is refundable.

They said they were welcome finance

Is this a normal way to apply for a loan?
Obviously if i get my loan they get there bit which is fine, but is it refundable?

Haven't had a loan before and just been swindelled by tenant loans :[

Any advice would be great thank you!

Claire

From their website:

Personal loans: Typical 64.4% APR Variable :eek: :eek:

AVOID!!!!!!!!!!!!!!!!!!!!

Burlesque_Babe

No, this is not normal!!

Please avoid Welcome at all costs if you can.