Black Horse Loans Review

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Black Horse Loans
2.8 stars
Average rating for this product is: 2.8 out of 5

From 5 ratings and 27 reviews

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zrahman1's Review of Black Horse Loans

20th Jul 2006

Overall Rating

0 stars
  • Value for money
    0 stars
  • Loan Rate
    0
Good Points

None - Wasted my time!


Bad Points

Poor financial information collection about clients prior to appointment.


General Comments

Most lenders seem to be quite happy these days to do business over the phone. What's so special about Black Horse Loans? I was accepted for an unsecured loan on their own credit scoring system by the broker/introducer. I had to chase the lender, as they were slow in getting back to me after the initial decision in principle was made. I was asked to visit a local branch, but the closest one to me was a 1 hour drive away. I made the effort, because over the phone they stated that they would be able to help me. Except, after I made that mammoth trip they turned around and refused me in 10 minutes! Apparently, they only specialise in secured loans and when they realised I had already got a secured loan (of which they were informed of over the phone prior to my appointment), they had realised someone else had pipped them at the post, so they were not able to get me to buy their only product! Why didn't they tell me that over the phone when I specifically told them I was after an unsecured loan? I won't be recommending them to anyone! The guy who was dealing with me did not seem friendly at all, and he was very standoffish and tried to make out that I needed his loan! I don't know what you saw in them davyboy; a 20% APR is hardly what I call competitive! I couldn't get out of there quick enough.

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Members' Comments onzrahman1's Review

  • unsatisfied customer on 6th May 2008

    I found this review helpful because...I also found myself in the same position having travelled 30 miles to the nearest branch only to be turned down. They tell you when applying for the loan initially it is in principal accepted thus building up one's hopes of securing the loan then have those hopes dashed in a matter of minutes!