top up your loan and pay double the interest rate IF they accept you

Business November 12, 2018 Country : United Kingdom Region : London

I had a £5000 loan over 5 years never missed a payment. Recently i wanted to get a topup. I only have 6 months left. Firstly you cant topup online so if you get a yes you have to wait 5 working days which sucks.

I decided to apply for a bigger loan online to include what i still owe and to get the loan quicker. because this meant i would have two loans it failed.
I then phoned up and explained the situation and asked them to do it as a top up again that failed probably because i had already applied. I asked them to inform the underwriters the reason and they said no i had to appeal in writing? what a joke so delay me even further.

My existing loan has £1400 left. To "topup" by another £1500 i have to pay a interest amount on whats left and then they will close that and start a new loan at a rate of a minimum of 24% The actual rate is confirmed after you apply so after your accepted and have affected you credit score you could be told a much higher rate which if you decline and try elsewhere you might not get another because you just applied what a disgusting joke. Top way to treat existing customers.

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