Cahoot owned by Abbey National are appalling.

First of all the loan you get is ALWAYS at a higher interest rate thna yhou have been led to believe.

Secondly they increase the rate at no notice. I am currently on 21% never having missed a payment.

Thirdly they have reduced my facility to £5000 from £13000 with no  notice.#

Fourthly they never respond to any communication.

Thank goodness I am able to pay off their loan right now.

Cahoot - loan sharks.

Cahoot jacked my flexible loan up to 14% from 7.9%. Just refinanced it to 5.7 fixed with N Rock and I'm closing the two current accounts I had with Cahoot to move to Alliance & Leicester.

Don't accept insulting behaviour from banks - Vote with your feet, as it's easy to do online :)

Hi All,
Beware of taking out a Cahoot Flexible Loan, I will outline my experience having done just that. Back in May I applied for a Cahoot Flexible Loan online to finance part of the purchase of a caravan. The rate advertised 7.9% didn't look too daunting considering the flexiblility (being able to pay a minimum amount, or regular payment, increase those regular pauments and also being able to pay off lump sums without penelties). On completing the application, I was accepted but at a rate of 9.9%. I felt this was getting a little high as I had already been offered a Personal Loan at a much lower rate. I still felt that due to the flexibility of the loan and the fact that interest would only be paid on the outstanding balance each month, it was still worth proceeding with. I went ahead and purchased the caravan. Before I had even made a payment I was informed that the interest rate of my loan would be increased as from the 28th June 2006 due to market forces to 11.9%. This was well before the Bank of England increased it's Base Rate. "What market forces would that be"? , and in anycase an increase of 2% seems excessive to say the least. I am at present paying £120 per month off the loan and intend to increase this substantially when my car loan finishes next month, hence the reason for a flexible loan. The story doesn't finish there; this morning I have received an email from Cahoot informing me that as from 30th August 2006 the interest rate on my loan is once again going to be increased to 12.2% due the Bank of Englands Base Rate increase. I feel that it is exactly this sort of situation that can put people into financial difficulty. No doubt I can look forward to another increase in the next month or 2 that is in the unlikelyhood that I will still be with Cahoot.