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Webster Bank / Loan

1 Meriden, CT, United States Review updated:

So I found a motorcycle I wanted to buy and went to Webster Bank to take a loan out for it. My credit is perfect, only have $1500 on one credit card, just finished paying off a $15, 000 car loan oevr 5 years. I have never missed a payment in my life. I go to the branch to fill out the application. The lady looks over it and tells me to put that I pay 350 bucks a month for rent, which I don't, I pay nothing, I live at my parents. She said it will "look better" so I do... I didn't have my latest check stub yet so I give her one that was 2 weeks old. She says it's fine they don't need the latest one, so I go off on my way. Next day, a different lady calls me and says "When are you going to get your latest pay stub here, we need it" so I explain what the lady told me, she said it was wrong... She says "You were conditionally approved, we just need your most recent pay stub." I say "so I got approved?" she says "yes". So I give the pay stub to them she says "I will call you when we are ready to close the deal." 5 days later, I call them and ask what was going on. The lady looks it up and says "Your loan was denied." REALLY? So you just weren't going to tell me this? 5 days I wait where I could have went to another bank that actually has money to loan? The loan was for $3400, and I have perfect credit.. If I can't get a loan, who can? I am taking my money out of Webster Bank, they are very shady people. Be warned, because if they don't have $3500 to loan someone with perfect credit, they must be at the end of their barrel of money. My money is coming out before they use mine to pay their debts, just a warning.

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  • Di
      25th of Sep, 2014
    0 Votes

    Dreams Shattered, Thousands Lost
    Being a long time customer of Webster, and a holder of a previous Mortgage, I was told I should have no problem getting a building loan. I have never bounced a check, never been late with a payment to anyone, and have a credit rating in excess of 800. No problem, right?

    Wrong. I went ahead with the applications, got all my permits, and spent over $25, 000 on plans, drainage and septic supplies, electrical panels and pex manifold, and many other things that I was able to purchase from day to day. My builder is ready to go, the new house on my existing lot is all staked out and cleared, and I am ready to go.

    After 6 MONTHS of going back and forth with them, sending the same information multiple times, and getting absolutely no answers as to why they were not accepting it and the impression that most of my personal financial information was being misplaced, I finally called the president of the bank. The president's representative got in touch with me promptly and promised to look into it. So what did I get, ANOTHER REQUEST FOR THE SAME INFORMATION !!! I was working with idiots and at one time even had to tell one of their representatives how to properly process some of the information. She had no clue as to what she was doing. Even the president of the bank doesn't care about customers.

    I have found another bank and will be transferring all my accounts to it.

    Stay away from Webster Bank!

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