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“Most lenders seem to be quite happy these days to do...”

written by zrahman1 on 20/07/2006

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.