63 euro to arrange a loan

T

tk

Guest
we got a 10k loan through with UB and I think they charged us 63 euro as a fee..(have yet to confirm)

I borrowed 6k from AIB and I don't think I was charged a fee at all though not sure, have other people been charged such fees??

ta
tk
 
G

Guest

Guest
Was this fee stated up front and/or in the detailed terms & conditions of the agreement that you signed? If not tell them to bugger off.
 
S

Spacer

Guest
..

As mentioned, if the fee was mentioned up front, it may be dificult to challenge it if the loan has now been drawn down.

I tried several years ago to get UB to waive the arrangement fee but to no avail.. However, their repayment rates were lower than others so the overall cost of borrowing was still less.

While AIB (and others) may not apply an arrangement fee, you may find that the cost of borrowing more than compensates them for not having one.
 
G

guest

Guest
fees

I got a car loan recently with BOI to upgrade my car and I was charged with a documentation fee of 63 euros. I think this is pretty standard with most lending insitutions. Even more previous borrower, a hire purchase company charged me pretty much the same.
 
S

soc

Guest
Re: fees

Yeah, Permanent TSB charged me €63 when I took got car finance with them. Must be a standard documentation charge across all financial institutions
 
G

Guest

Guest
Presumably such a charge must be reflected in the quoted APR?
 
S

Spacer

Guest
..

It certainly should be. The Consumer Credit Act 1995 applies.

€63 is the equivalent of £50 - the approved charge in the case of most of these credit providers.
 
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