moneyback bank loan? (merged)

Sim_2

........Right - just applied on-line with LloydsTSB. Typical rate 6.4% - was offered 5.9% and the money will will be in my bank account by 9.00 am tomorrow. Took 1 minute 45 seconds (I do bank on-line with them). Who are Moneybackbank trying to kid?

Sim

Numptie

Didnt even bother to tell me that they had knocked me back, got a call from the credit agency to tell me "On this occasion A&L are unable to help you but we can try and find a lender for you" What a bunch of w*nkers!

bunyarra

Martin, in case you are reading this thread, please don't keep recommending Moneyback bank. In all honesty, it is a fraudulent proposal by them.

If those like me with excellent credit ratings cannot get the lowest rate without payment protection, I can't see how any can.

Even the follow up call to me was basically to put more pressure to take the loan protection.

Come on Martin - stop pushing business their way, they really do not deserve it.

Mike.

POSSETTE

sarahmoo wrote:

Tell me about this bank....(associated with alliance and leicester)
any experiences would be appreciated before I go ahead with a 5.7% loan with them (no protection)

cheers

Go for it..i had no problem getting 5k loan at 5.5% from them, 3 months ago.i refused the insurance point blank about 4 times as he lowered the insurance tiers bit by bit, just have a nother quote for ins ready before you call.I have no credit problems anywhere on my record though.But it goes to show,you can get the rate of 5.5.:beer: It also says any further credit searches they do whilst you have the loan with them, are NOT recorded and no other lender will be able to see them:T

guest1_2

Hello everyone!
Unfortunately I had an evil secured loan with FIRSTPLUS (8.9%apr) and managed to save enough to get it within the limits of an unsecured loan.
First stop was NORTHERN ROCK as I was keen on the flexible option. Did the application online and was offered the loan at a whapping 10.9% APR!!!!
Forget that
Next up was MONEYBACK BANK. Filled out online application and received a text to call them - did so and had to go through a really painfull series of questions which took around 45 mins. They were quite pushy about the insurance, which I did not want, and to my surprise offered me the loan at 5.6% APR.

Northern rock keep calling me and sending letters asking me to send back the paperwork.... I never reveived any - even if I had it would have been shredded straight away!

DaveChappelle

I signed up to loan from these people about a year ago - got the hard sell on the loan insurance too.

So what I did was agree to the insurance then cancel it (letter by recorded del) after the loan had been paid into my account (you have 30 days to cancel I think) at which point the loan had already started so they couldn't back out of the interest rate.

bakkah

Got a loan with them the other week for 7500 at 5.6%, I got the payment protection talk but just firmly say no (a couple of times) and they will back off. The money came through quick enough. Did try Northern Rock first but was offered 6.9%.

npk2006

A little blog on my application for a personal loan via Moneybackbank which may help others:

They're rates are 5.7% but on applying I had to ring in to get my decision. I was offered the loan at 7.9% and had PPI pushed on me which I had to refuse about 3 times before they told me what my monthly rate with no PPI at 7.9%. I reminded them the rate on the internet was 5.7% but they said it was a higher apr due to my individual circumstances, so I said I'll think about it. They then immediately said 6.9% to which I replied I have had a better offer of 6% elsewhere so they then offered 5.9%, so I accepted.

I took them up on 5.9% as I had applied for an AA loan 10 mins earlier being accepted at 6.9% with no luck in getting a lower APR. This also saved me having to apply for a third loan thus saving my credit searches on my record.

They offer same day money transfer on receipt of signed application at a cost of £30.

Hope this helps others looking to get a loan. :j

Lovingitifitsabargain

npk2006 wrote:

A little blog on my application for a personal loan via Moneybackbank which may help others:

They're rates are 5.7% but on applying I had to ring in to get my decision. I was offered the loan at 7.9% and had PPI pushed on me which I had to refuse about 3 times before they told me what my monthly rate with no PPI at 7.9%. I reminded them the rate on the internet was 5.7% but they said it was a higher apr due to my individual circumstances, so I said I'll think about it. They then immediately said 6.9% to which I replied I have had a better offer of 6% elsewhere so they then offered 5.9%, so I accepted.

I took them up on 5.9% as I had applied for an AA loan 10 mins earlier being accepted at 6.9% with no luck in getting a lower APR. This also saved me having to apply for a third loan thus saving my credit searches on my record.

They offer same day money transfer on receipt of signed application at a cost of £30.

Hope this helps others looking to get a loan. :j

we have just had a e-mail from MB saying we've been accepted and they are sending out the paperwork - I have a sneaky feeling they are going to say a higher rate than advertised - we have declined the PPI also - if they offer a higher rate is it advisable to barter with them ?

Headieboy

Just off the phone to Moneyback. Applied over the web but still had to phone????
Guy tried to get me to take out the PPI. I told him about 5 times that I didn't want it but he still went on and on about it.
Again, their rate is advertised at 5.7% but I was told that my rate was 7.9%. I got my credit report a week or so back and it was excellent. Has anyone actually received 5.7%?? I told him that I was not interested in paying 7.9% and wouldn't be taking the loan any further. He said that he couldn't do anything about the rate as that was my rate based on my circumstances. He then told me that the paperwork had already been printed and would be sent out automatically. How can they do this as I hadn't agreed to take the loan, and I wanted it without the PPI. All the time he was going on about PPI!

Phoned Northern Rock - Got the loan at the rate advertised. They tried to get me to take the PPI but I told them I wasn't interested.