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Hi looking for a little advice our bank have offered us a loan but to get a better rate they are saying I have to have life insurance .
My question is if I take this could I cancel after a couple of months.
I know in the uk they can't do this anymore but think the banks are a few years behind uk banks.
Thanks in advance
Santander? A Spanish bank that's a few years behind UK banks? My personal opinion is they are not stupid and unlikely to fall for your scam. Even at year end you have to provide a written request to terminate the contract 30 days before the end , or it is renewed. It may be worth asking them when you can change the policy and plan accordingly.
Posted: Fri Apr 26, 2024 9:16am
Very helpful member
It's standard on every bank loan taken out through the bank. Best to apply online, online banking requires much less. We have had bank loans through the actual bank and through their app, online we asked for the money and it was in within hours. At the actual bank (same company) we needed insurance for both life insurance and car insurance through them (the loan was for a car)
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