my husband applied 4 a loan and the broker said he had been approved for a loan and all he had 2 do was said in there fee of 39.99 pound s and then they would pass his details onto a suitable lender. Has it ever happened 2 any1 and after you have sent in thier fee then been turned down
2007-01-30 08:55:46 · 19 answers · asked by gem 3 in Business & Finance ➔ Credit
Yes it has, and we lost the 50 pounds in our case and also didnt receive the loan.
British Credit Trust does personal loans and car finance and they have always giving us it, when others wouldnt, id give them a go, you dont pay anyting upfront, but theres an acceptance fee in the first loan payment, but this is quite common practice for most loans.
2007-01-30 21:03:15 · answer #1 · answered by hayles 3 · 1⤊ 0⤋
DONT do it - its a scam. My daughter nearly got stung by YES loans on the same thing. They havent approved you for a loan at all - the £39.99 is to be accepted onto their books - they are a BROKER and will offer you crap loans at high rates if at all. You will never get your money back from them either !!!
2007-01-30 17:02:13 · answer #2 · answered by starlet108 7 · 2⤊ 0⤋
you should go to a bank, there must be some reason you are not going to a bank to borrow this money.
Quite frankly, the "broker" sounds like the type of person who preys on vulnerable people who are not very good at managing their finances.
I urge you not to give this person 39.99. If the bank will not lend you money there must be a very good reason. Don't get into any further debt I implore you.
2007-01-30 17:01:21 · answer #3 · answered by Not Ecky Boy 6 · 1⤊ 0⤋
I had that once, because i had trouble getting an unsecured loan. It was a rip-off, i never got a loan in the end. They call it a "search fee"
2007-01-30 17:00:34 · answer #4 · answered by ? 2 · 2⤊ 0⤋
not a con, definitely allowed, its what's brokers call a search fee. But it probably means that you're hub has a poor credit rating. best place to go to is http://www.moneysavingexpert.com/ and read all about loans there, if you're not sure hang off for a bit and don't just jump in without knowing all the facts, don't send the money in without checking it fully out first.
2007-01-30 16:59:45 · answer #5 · answered by gigi s 2 · 1⤊ 3⤋
Any reputable loan company would not ask you for money up front. This is obviously a con so i would stay well clear.
2007-01-30 17:13:49 · answer #6 · answered by Jazzybee 3 · 1⤊ 0⤋
Sorry but anywhere where you pay up front for a loan is a con.
Lenders want to lend to people and people pay interest not a dodgy up front fee.
I would report this to trading standards and go to citizens advice bureau
2007-01-30 17:01:14 · answer #7 · answered by uk.housewife 2 · 1⤊ 1⤋
Sounds like you've been scammed. "Hallo Picture, I'm calling about a loan. Yes we have a mortgage." You have to be soooo careful.
2007-01-30 17:00:33 · answer #8 · answered by Del Piero 10 7 · 1⤊ 0⤋
Don't part with any money. You want to borrow money, not spend it first. Go to a bank or building society to be sure. We went to Nationwide, we don't bank with them but they were by far the best lenders.
2007-01-30 17:00:21 · answer #9 · answered by chutney 4 · 2⤊ 0⤋
It is a con. You can apply for a loan for free, so why pay to do it? Good luck!
2007-01-30 17:03:36 · answer #10 · answered by tamali 2 · 1⤊ 0⤋