Pitfalls of telephone banking

[dino53]

In october 2006 I was offered a £10,000 from a bank(then abbey) who I did busseness with We agreed a interest rate of 6.9 to 7.2% so two forms arrived one was a bank mandate and the other was asking me if I agreed terms and cons so i read the second form with a few figares on,thinking that what I signed was terms &cons.2 months later I noticed that the amount comeing out of my acc was about double of what was agreed after 2yrs and solicitor letter the bank released a third form showing me an APR of 14.9% went to the FOS who told me that the apr from the bank at the time was normaly 6-7% but due to the way the loan had been granted i would have to pay the unagreed higher amount is this the norm??

[miliitant]

Re: Pitfalls of telephone banking

the apr would be on the loan agreement you signed, not on a seperate document as it is a perscribed term

what is the APR on the actual agreement

[dino53]

Re: Pitfalls of telephone banking

Thank you Alsation for your advice,just to say that the document I signed had no apr or payment details on it, later I found out it was an "acceptance" slip for the terms &cons not suplyed.

[teaboy2]

Re: Pitfalls of telephone banking

In that case its unenforceable as it most be within the original agreement not in the attached terms and conditions its a perscribed form of the agreement, not of the terms and conditions that are suppose to be atttached to the agreement within the same 4 corners of a single piece of paper.