Churchwood Financial Services Review

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1.9 stars
Average rating for this product is: 1.9 out of 5

From 3 ratings and 82 reviews

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Guest's Review of Churchwood Financial Services

29th Oct 2009

Overall Rating

1 stars
  • Value for money
    1 stars

I was contacted by Churchwood Financial and was offered a Consolidation Loan which I now know is actually a DMP, I was hesitant but the advisor was very nice and told me she would send out the relevant paperwork for me to look at. In the meantime I've read the reviews on this website, and boy did it scare me, thankfully I never gave over any bank details and so I havent been stung as so many of you on here have been. I called the next day and told them thanks but no thanks. When I received their paperwork I was horrified to see that they had referred to me as having agreed to a verbal agreement, and yet it was only an enquiry and informed me that I had a 7 day cooling off period but had to write a cancellation letter if I didn't want to use their services. Very misleading company, I was never told that the initial payment was a set up fee and I was never informed of the Monthly fees. Even after being told by my "advisor" that they had cancelled my policy, I received e-mails demanding that I pay their initial fee, I replied with a not so pleasant e-mail which they passed onto their complaints department who responded to me the same day to apologise for sending out the "Confirmed" letter instead of the "Enquiry" Letter. My advice would be to take heed of what others on here are saying, either do it yourself, or use a company that doesn't charge you.

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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