Not advertised %apr Snivvy

#1
I applied for a loan at a 5% apr and got an email saying it's been accepted at a 21% apr and documents will be sent out to me in 2 working days. I don't want the loan at this rate.



Do I just not sign the documents? Or do I need to do something else too?



I wasn't given the option to accept or reject the loan at the apr rate I was offered.

#2
Personally I would contact them and say you're rejecting your recent application.



The APR you've seen quoted is offered to at least 51% of customers; the other 49% (like yourself) fall in the category where your interest rate is higher.

#3
You can reject it by phoning them as 20aday suggests.



They didn't like something on your credit file hence the 21% rate. The rate offered might be the best you can get.



Whats the purpose for the loan ?

#4
It's for home refurbishments. I've checked experian. My credit rating is good, never failed to meet payments on car hire purchase. But I have very little credit history as the mortgage is in my partner's name.

#7



It's for home refurbishments. I've checked experian. My credit rating is good, never failed to meet payments on car hire purchase. But I have very little credit history as the mortgage is in my partner's name.
Originally posted by Snivvy


Maybe thats the reason, you have little history. Can your partner not get the loan ?



If they can't then maybe you need to change plans.

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