Secured Loan, Welcome Finance

[dogtired]

Re: Secured Loan, Welcome Finance

That's what I thought, made sure I put in that the postal order was for that purpose only as they did this once before.
Can you answer @ Ruby re her question about property land?

[nemesis45]

Re: Secured Loan, Welcome Finance

Well, well,...........

Just received in post a 'CCA'

Fixed sum loan agreement regulated by the Consumer Credit Act 1974 secured on (our property address)

First customer (Husbands name) they have printed wrong number on house address and then scored it out by hand and written the right on!
Second customer (my details) with correct address.

The CCA complies of one single sheet of paper, one sided and completely illegible in places. No T & C's ........

Any thoughts guys? I need to obviously reply back to them

Hello

Can we see a copy of the agreement please.

nem

- - - Updated - - -

Well, well,...........

Just received in post a 'CCA'

Fixed sum loan agreement regulated by the Consumer Credit Act 1974 secured on (our property address)

First customer (Husbands name) they have printed wrong number on house address and then scored it out by hand and written the right on!
Second customer (my details) with correct address.

The CCA complies of one single sheet of paper, one sided and completely illegible in places. No T & C's ........

Any thoughts guys? I need to obviously reply back to them

Hello DT,

Can we see a copy of the agreement please.

nem

- - - Updated - - -

Well, well,...........

Just received in post a 'CCA'

Fixed sum loan agreement regulated by the Consumer Credit Act 1974 secured on (our property address)

First customer (Husbands name) they have printed wrong number on house address and then scored it out by hand and written the right on!
Second customer (my details) with correct address.

The CCA complies of one single sheet of paper, one sided and completely illegible in places. No T & C's ........

Any thoughts guys? I need to obviously reply back to them

Hello DT,

Can we see a copy of the agreement please.

nem

[dogtired]

Re: Secured Loan, Welcome Finance

I asked for [MENTION=4027]Ruby[/MENTION] as it is her thread.

Hello

Can we see a copy of the agreement please.

nem

- - - Updated - - -



Hello DT,

Can we see a copy of the agreement please.

nem

- - - Updated - - -



Hello DT,

Can we see a copy of the agreement please.

nem

[Ruby]

Re: Secured Loan, Welcome Finance

I will do my best to copy and post the one sided piece of paper they call the 'CCA'. The problem is that I will obviously have to score out my personal details which will defeat the purpose is some ways as they have scored out our address and corrected it by hand.

Are hand corrected mistakes permissible in a CCA agreement?

[Ruby]

Re: Secured Loan, Welcome Finance

Here is the 'CCA'.

Sorry for the delay, I have been battling a chest infection.

I would really appreciate any comments. This is literally ALL that was sent. On the page it reads 'please refer overleaf' so why did they not send the whole 'agreement'?

[EXC]

Re: Secured Loan, Welcome Finance

Tagging [MENTION=55034]nemesis45[/MENTION]

[Ruby]

Re: Secured Loan, Welcome Finance

Bump please

[dogtired]

Re: Secured Loan, Welcome Finance

[MENTION=42011]Nem[/MENTION]asis45 (again)
How can that be a CCA?

Bump please

[charitynjw]

Re: Secured Loan, Welcome Finance

If they haven't sent the T&C's as at inception of the agreement, plus any subsequent variations, they haven't properly complied with the request.
Should they send T&C's, ensure that they are the correct version (ie the one that was applicable at the time of the agreement).

[Ruby]

Re: Secured Loan, Welcome Finance

any update @Bazza - @dogtired?

The more we share our stories the better. I really could do with the moral support just now and to know that I am not the only one going through this process with Welcome

[dogtired]

Re: Secured Loan, Welcome Finance

Apart from the letter giving themselves eight weeks no, not sure if that for the original letter or the CCA request.
However (apart form Name address etc.) the ones they have supplied in the past are identical to yours!
N

any update @Bazza - @dogtired?

The more we share our stories the better. I really could do with the moral support just now and to know that I am not the only one going through this process with Welcome

[Bazza]

Re: Secured Loan, Welcome Finance

I also see that the APR is variable on your fixed-loan agreement - Is that correct ?

[Ruby]

Re: Secured Loan, Welcome Finance

the ones they have supplied in the past are identical to yours! - Lol, are they a one man band ? That is surprising.

I also see that the APR is variable on your fixed-loan agreement - Is that correct? - come to think of it Bazza that doesn't sound right ........

[Bazza]

Re: Secured Loan, Welcome Finance

the ones they have supplied in the past are identical to yours! - Lol, are they a one man band ? That is surprising.

I also see that the APR is variable on your fixed-loan agreement - Is that correct? - come to think of it Bazza that doesn't sound right ........

Ruby, you need to be asking Welcome that as I believe in the past others have had their agreements / legal charge revoked as unenforceable.

Maybe others who have experienced this may add further.

Good Luck

[charitynjw]

Re: Secured Loan, Welcome Finance

I also see that the APR is variable on your fixed-loan agreement - Is that correct ?

the ones they have supplied in the past are identical to yours! - Lol, are they a one man band ? That is surprising.

I also see that the APR is variable on your fixed-loan agreement - Is that correct? - come to think of it Bazza that doesn't sound right ........

Ruby, you need to be asking Welcome that as I believe in the past others have had their agreements / legal charge revoked as unenforceable.

Maybe others who have experienced this may add further.

Good Luck

Loan interest rates can be variable & based on BBR, LIBOR, or SVR (But check T&Cs)

For example (Acenden)

Variable Base Rates

Unless your mortgage is currently in a period where a fixed interest rate applies (see Product Types above), the calculation of your interest rate typically involves the use of a variable base rate. Your interest rate will be recalculated at regular periods throughout the life of your mortgage or loan. The following are examples of variable base rates that lenders use:

• Bank of England Base Rate (BBR) – This is the rate the Bank of England sets every month and publicly announces.
• London Inter Bank Offered Rate (LIBOR) – This is the rate at which banks borrow funds from each other in London. As there is more than one LIBOR, it is important to check your mortgage terms and conditions or loan agreement to be sure which LIBOR your mortgage or loan is set against. If you require further information regarding the setting of LIBOR you may wish to visit the British Banking Association’s Website at www.bba.org.uk
• Standard Variable Rate (SVR) – This rate is set by your lender and moves up or down at the lender’s discretion. The lender’s decision may include consideration of changes in the BBR or LIBOR.

Current Variable Base Rates

0.59% effective from 1st March 2016	0.50% effective from 1st March 2009	2.79% effective from 1st March 2010

Lenders apply changes in interest rate from the date the change becomes effective, the effective date of the most recent change is shown above. If a change affects you, it will be reflected in your next contractual monthly instalment after the change.
Product Margin – The interest rate applicable to your mortgage or loan may be comprised of a base rate, such as BBR or LIBOR or a lender’s SVR, plus a product margin (e.g. SVR + 2%). The product margin is fixed and would have been based on the products the lender had available at the time your lender offered your mortgage.

https://www.acenden.com/customer/my-...interest-rates