Shawbrook Bank

Make sure you read the fine print when taking out a loan with this company.I got my windows replaced by Penicuik and took out a loan to cover the cost. Penicuik recommended Shawbrook as the lender to go with. Quick and easy application process and all seemed fine.I called today to get a settlement figure and got a bit of a shock. I have been repaying the loan for just over 2 years and in the time I have paid out about the equivalent of 1/2 the loan, but the settle figure is only 5.5% less than the original loan amount!I have paid over £2,500 in interest over a 2 year period!!I cannot recommend using the company and would recommend all potential customers go elsewhere instead.

Update from previous review. Letter sent but they claim they have not received this. I specifically asked if an email would be acceptable and was told yes, so email sent. Only to discover that the email address that I used, that was on all their correspondence was in fact the wrong email address? Email resent, this time not acceptable as Husband has not signed it and all the information they need was not on it? All the information they requested from our first telephone conversation was in the email but now they want more. Complaint has been lodged and now been advised for husband to make request via email for a written settlement request and this will be sent out and I can call up and pay. They also asked where the money would be coming from to clear the account? Sorry You do not have enough clearance from data protection for me to discuss that with you!!! Never had this much problems trying to pay something off.

Was signed up to Shawbrook when we upgraded our kitchen and at the time felt a little pressured by the salesman. Tbh we should have sourced finance from elsewhere.Took payment plan over ten years due to cost and when we looked at figures we where paying more than double what the kitchen was costing.So onto Shawbrook. No issues up until now as I paid my direct debit on time and never missed a payment even through pandemic.When I went to settle account I was asked where I was getting the money to finance this, told the chap that was no business of his. Account was duly settled in time and with enough notification to stop direct debit.Though and behold direct debit has been taken at beginning of month and after numerous phone calls I'm now 17 days on without having my money refunded.Not saying there not a great financing company but if I was to with old money it would effect my credit score so why can they hold onto my money???

Interest not paid in and they don't bother to answer my questions , decided to close my account.

Never ever use this bank. They treat you like dirt, post incorrect information on your credit file and if you ever complain to them, their internal investigator always sides with the company. No surprise there. No help when you need it

Exorbitant interest rates and punitive penalties for early repayments. Also when given a settlement figure the letter clearly states that the monthly direct debit should not be cancelled as Shawbrook will do it. However Shawbrook continues to take the direct debit and is in no hurry to repay any overpayments. Customer services are extremely unhelpful. A bank to be avoided.

Best UK bank for customer services without a doubt. Secure messages are replied within a few hours, staff are extremely responsive and knowledgeable and phone calls answered in a matter of minutes unlike most other banks where you’re hanging on listening to some rubbish synthesiser tune for 30 minutes. Cannot recommend them highly enough

I have 2 savings accounts with them and never had any problems. Interest always credited on time.

Trying to pay balance off in full is a nightmare, their interest rate per day is absolutely shocking. We were giving false information to sign up with shawbrook, stay clear of shawbrook, they insist on asking how you are funding in paying off balance