Tenants Loans Information Review

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jarsh's Review of Tenants Loans Information

17th Sep 2007

Overall Rating

0 stars
  • Value for money
    0 stars
  • Loan Rate
    48.7%!!!
Good Points

NONE


General Comments

I received a letter after applying to tenant loans stating that I was likely to receive a loan rate for a £1000 of 15.2% and that this would be paid to in less than five working days on receipt of the £49.95 brokerage fee. After paying the fee, I waited for over a week and received an offer with FLM with an APR of 48.7%! As you can imagine, I decided against taking this loan and requested a refund by phoning customer services, I was in a queue for 15 minutes before anyone answered and they then said I need to send my request in writing. Two weeks later and I was sent a letter urging me to reconsider, so I sent another letter, explicitly stating I will not reconsider. Soon after, I received another letter urging me to reconsider, I have now sent my third letter.
In the process of requesting my refund I have phoned and each time been on hold for at least ten minutes, sent e-mails that have failed to go through and written three times and they still haven't given my money back. You want my advice? Steer clear of this company, you might never get your money back. Very, very poor service, go elsewhere.

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Members' Comments onjarsh's Review

  • misog1 on 7th Feb 2008

    I totally agree had exactly the same problem needed a loan for £8k, which I had told had been agreed by a lender and all I needed to do was send my broker fee of £49.95, I was so relieved to have the loan sorted only to get paperwork come through from a company saying they would only lend £3k @ 48.7%!!! Still trying to get my £49.95 back!!! only taken me 7months so far!

NameCredit RatingAPRTypical APRMin Loan AmountMax Loan AmountHome Owner  
Alliance & LeicesterGood8.00%8.00%£7,500.00£14,950.00No
Sainsbury's LoansGood8.00%8.00%£7,500.00£15,000.00No
Nationwide LoansBad7.90%7.90%£7,500.00£14,999.00No