are banks allowed ask you to apply for a loan then turn you down?

D

danois

Registered User
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18
I have received 5 letters in the last month from AIB saying you have been pre approved for a loan of upto 7000 but when i applyed for just 3500 i was turned down are they allowed do this? should they be only allowed send you a letter like this if you actually have been pre approved
 
I presume that "pre approved" comes with a "terms & conditions apply" rider so they are presumably well within their rights. If in doubt ask IFSRA maybe?
 
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