Hi, i would like to hear from any body who have applied to Walker and Hammond for a loan. Tell me about your experience!

propsman:Hi, i would like to hear from any body who have applied to Walker and Hammond for a loan. Tell me about your experience!

Steady on propsman, speaking your true experiences on here of W & H can get you sent to the Salt mines, either that or the moderator will step in and censor or lock your thread.
For a very strange reason past posts have been treated in this way, so free speech is OK as long as it conforms to what they would like you to say.

it seems as tho they have a lot of clout .. when searchin the net discovered another forum which mentioned the above and that also has been suspended!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! collecting information on this company and others like them to supply to BBC1's Watch dog programme so feel free to give me all you got.

LOL... I am now curious - was the tread killed or ? Lets wait and see.

I have had no dealings with this broker but ... I wanted a secured loan - seemed less hassle than re-mortgaging, which at the end, I am doing as I got nowhere with the secured loan.
Picture and First Plus told me my mortgage holder, First Direct won't allow a second debt registered against the property, which is strange, don't you think? I thought it was my house? Apparently not, it's the bank's, which is fair enough, they have a larger stake in it then me... Good thing I don't have to ask permission if I want to paint the walls. Anyway... Norton accepted me, sent me the paperwork (they had no problem with my mortgage being with First Direct, strange, isn't it?) - when I read the conditions I almost fainted! 12% interest, £2750 arrengement fees and £500 for admin.... They called me a few days later to inquire why I did not return the form yet. Explained that I am not paying over £3000 for the privilage and that the interest rate is way too high (I have a great credit rating, no missed payments, no arrears..) So they waived the fees but did not lower the %... I have given up on the loan and will re-mortgage. I got a broker through Money supermarket. Lets hope this will go better than my loan search!

Anyone else out there had similar experiences? If I had the time I would search for a new mortgage deal myself however...

Julianna

Hi,

I work for a secured lender and first are the only mortage company that will never issue consent for a 2nd charge against your property (secured loan), its just as frustrating to the laon companies as it is to the customer, believe me, I have tried everything to get consent from First direct but they will not budge, even if it would be of great benefit to the customer.

Norton would not of had a problem with it as they are brokers and would of carried on until they sent your details to the chosen lender who would of then noticed your First direct mortgage. It's also why the interest would off been so high as brokers charge a lot more.

Thanks for this. I am now going down on the re-mortgage road.

Funny though - I am sure it's in the small print somewhere on the mortgage agreement but like most people, I suspect, I have never read it..... :-)

i applied for a loan with them about 2 months ago and was told i had to pay an admin fee

i was a bit dubious as i had paid Yes loans-who are a complete waste of time might i add.

My first payment for my fee bounced so i had to pay with another form of payment- which i sent in the form of postal orders

 It took about 5 days but i got a loan with welcome for just under the amount i was asking for

 I didn't want to go with Welcome as their APR is really high and after several calls from me it was explained by the customer servixce team why i had to go with them due to my credit scoring and previous defaults etc etc

i never had to pay a premium rate number that charlie girl has got her facts wrong,

i did have to call customer services a few times and found them to be pretty good in explaining why i had been placed with welcome and what i could do to improve my credit scoring

 there's some real sour pusses out there but at the end of the day if like me you've got a low credit score sometimes you 've gotta go with someone you don't really wanna go with- at least i got my loan and i found them to be pretty helpful-much better than yes who did actually take the money and run!!!!!

 

I'm just amazed at how quickly they contact you..... until they get the money off you.  My simple advice is AVOID, AVOID........ AVOID!!!!!!!

I'm sure I read on this forum the other day a whole listing dedicated to people that are annoyed and dissatisfied with the level of service recieved from W+H, they kindly put a telephone number on here for people to call to resolve their issues, might help those of you that still have an ongoing case.

 My advice is stay well clear of a company that so many people are unhappy with and that charge a fee up front!!  

Hi Propsman,

 I tried for a loan through W&H and paid a fee - and guess what! Got no loan and as yet have not got my fee back! Very interested in the Watchdog theme! About time somebody took matters like these further.

 Anyway, happy to help if you have any questions.

 

 

I'll tell you my experience...

Walker and hammond make me sick! I applied for a loan with them a couple of weeks back  through best4loans. They went through my application over the phone, and although I was declined the amount of 3,000 they were happy to offer me a loan for 1500. 'Ok' I thought that should be ok- so I accepted. The guy on the phone was quite polite and told me the money should be in my bank account on wednesday. It was a monday in which I filled in my application. 'Great' I thought. Nice and simple- he asked me a few questions about my incomings etc and that was it. The guy on the phone also told me that if the money wasn't in my bank on wednesday to just give him aring, but there shouldnt be a problem. Well there was a problem- a big problem the money wasnt in there wednesday. The guy was pretty reasuring on the phone- and nice enough to get me to pay a fee of £30 or something. Yes I know- that should have started alarm bells ringing but as I say he was very reasuring. Anyways, I went on here to have a snoop about Walker & Hammond and to my horror came across some very negative reviews. (which I should have read before I applied). I phone them back up straight away to see what was happening- a woman on the phone told me the loan should take 5 days to clear. 'Oh ok' I thought. 'So the loan should be in your account on monday'. Monday came... no money. Received a missed call on my mobile from them during that day, so phoned them up in the evening to a man who was very very polite as he thought I wanted to fill in an application. Until I told him I had no money in my account. Suddenly his voiced changed and he sounded very rude and told me bluntly 'you should get a call within a few days'.

 I have heard nothing since.....

 My point of the matter is:

Walker and Hammond are NOT I repeat NOT Loan Lenders. They will NOT give you money as I and I bet many others are initially led to beleive. They pass your details on to POSSIBLE loan lenders who MIGHT or MIGHT NOT give you a loan. And I can bet from reading so many of peoples views on this site that the liklihood is that they will NOT get in contact or give you a loan. So, they are very very deceptive. They make out that they are the loan lenders and will give you a loan. Hence, the first guy on the phone telling me the money should be in my account on the wednesday, two days after I applied. They all seem very nice in telling you these lies until you pay the fee,which I except many people do other the phone. To add to this, I received 2 forms from them asking me for the fee- which I had already paid over the phone! So they are also very disorganized. If I had not come on this forum and read the reviews on here about them I would not have realised that they just pass your details on. I was very very misled. They only tell you that they pass your details on to "potenital" loan lenders when a form arrives for you to sign and send back to them. In which time alot of people (like myself) would have already paid the fee thinking that they are going to receive money within the next few days.

Fortunately my reasons for wanting this loan are not too serious and I can live without having it. Which is very likely now. However, many people who get into difficult situations are desperate for a loan. And I mean desperate. They could go down the same route as me and think that they could be getting a loan like you are led to believe and then nothing. This will only add frustration and unnessary stress. You will ironically be left worse off by paying that stupid fee.

I'm not even going to attempt getting that back- instead I think I'm going to go and see somebody about this or get legal help. yes- some people may laugh and tell me to stop wasting my time but if ive got a point I will argue will it until Im blue in the face. I think all the people who have been affected by Walker and Hammond should do something about it. If we all get together maybe we can do something about it and stop anymore innocent people becoming victims.

If you've been a victim get in touch XXXXXX Moderator - email address removed. Maybe we can bring these scumbags down

 

I would be interested in the watchdog also.

Yep i have just fallen into the W&H trap, happily paid them the £39.99 fee a couple of days ago, i recived the paperwork to sign today, was quite happy untill i decided to google the company

i have just applied for a loan with this company and as i hadnt heard anything i went on the net to have a look at my application status and i suddnly go all these people who have had bad experiences with them i have a sick feeling in my stomach that am one of them i paid the £30 fee and got given a 0900 number just this minute i got a strange call from a company saying funds will be paid in 5 days is this a con?

booky --- For a change I will make this an odds on favourite that you will not get the loan or they will add unreasonable terms, in order for you to get this loan.

However follow the advice below from the OFT and you will get all your fee returned except £5

 

I will keep posting this as a reminder until it's worn out .......Here is a bit of information from the OFT below, office of fair trading that may help you all, these brokers can legally only keep £5 of any arrangement fee, where the application is not successful. So write to them sent by recorded delivery reminding them of their obligations, suggesting you will contact the OFT if the fee, minus £5 is not returned.----------------The Office of Fair Trading (OFT) has reminded consumers who use credit brokers to find sources of credit that if they are not found a suitable loan within six months and don't take up any loan offered - for whatever reason - the broker can keep only £5 of the arrangement fee.

The OFT has found that some brokers are targeting disadvantaged consumers and not making them aware, until after the fee (usually around £50) is paid, that the prospective credit provider will only lend the consumer amounts less than they are asking for or that loans are only available with a guarantor.

It advises any consumer who isn’t happy with the credit agreement on offer from their broker to request in writing that the broker's fee be refunded, less £5.

Credit brokers cannot contract out of these provisions and any such terms within their contract may be void under the Consumer Credit Act. Brokers who fail to refund fees in these circumstances risk losing their consumer credit licence or face action under the Enterprise Act in order to ensure compliance in future.

Consumers who have difficulty obtaining a refund should contact their local trading standards service or the OFT.