5% per annum loan offer is misleading

I recently received a marketing e-mail from Old Mutual (who I have various Life Insurance policies with), offering a debt consolidation. personal or business loan at 5% interest charged per annum. As credit card fees are at least double this, I decided to apply for a loan to pay off my credit card. I sent in the required documents and my loan application was duly approved.<br> <br> However when I received the acceptance form to sign, there was a stipulation that R2 820.00 had to be paid up front for 'Legal Fees' before the loan could be paid into my account. Nowhere in any of the previous e-mails I received from Old Mutual regarding this loan offer was this fee previously mentioned.<br> <br> I feel that this is false and misleading advertising of a product.. How can an amount of almost R3 000.00 be added to the 5% per annum finance charge without making this stipulation a requirement right from the start. It looks like this 5% per annum offer is purely a way to reel in new clients. <br> <br> I am frustrated and disappointed that a financial institution would behave in such an ********* and underhanded way.