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  • FIRST POST
    • GBbusines
    • By GBbusines 9th Nov 17, 2:02 PM
    • 1Posts
    • 0Thanks
    GBbusines
    Is there a legal time frame loans companies must reply to loan applications.
    • #1
    • 9th Nov 17, 2:02 PM
    Is there a legal time frame loans companies must reply to loan applications. 9th Nov 17 at 2:02 PM
    Good afternoon, I need to know is there a legal time frame loans companies must reply to loan applications in the United Kingdom?

    So if a person applies for any type of loan (e.g. business or personal) is there Legislation or case law precedents that provide a time frame which companies have to answer by?
Page 1
    • IAmWales
    • By IAmWales 9th Nov 17, 2:05 PM
    • 1,658 Posts
    • 3,430 Thanks
    IAmWales
    • #2
    • 9th Nov 17, 2:05 PM
    • #2
    • 9th Nov 17, 2:05 PM
    No, there is not.
    • Arleen
    • By Arleen 9th Nov 17, 2:11 PM
    • 991 Posts
    • 728 Thanks
    Arleen
    • #3
    • 9th Nov 17, 2:11 PM
    • #3
    • 9th Nov 17, 2:11 PM
    Nope, there is no limit on that.
    • robber2
    • By robber2 9th Nov 17, 11:08 PM
    • 276 Posts
    • 222 Thanks
    robber2
    • #4
    • 9th Nov 17, 11:08 PM
    • #4
    • 9th Nov 17, 11:08 PM
    No legal requierment to even bother replying to you if they choose not to bother.
    • Richey_
    • By Richey_ 10th Nov 17, 6:12 AM
    • 267 Posts
    • 306 Thanks
    Richey_
    • #5
    • 10th Nov 17, 6:12 AM
    • #5
    • 10th Nov 17, 6:12 AM
    It’s their money!!!
    • StopIt
    • By StopIt 10th Nov 17, 7:41 AM
    • 1,391 Posts
    • 1,182 Thanks
    StopIt
    • #6
    • 10th Nov 17, 7:41 AM
    • #6
    • 10th Nov 17, 7:41 AM
    No, because the decision making process may involve in depth checks, especially for business loans, for example.
    I'm a Board Guide on the Debt Free Wannabe, Credit Cards and Loans boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Board guides are not moderators. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com

    In debt and looking for help? Look here for the MSE Debt Help Guide.
    Also, If you need any free and impartial debt advice, the National Debtline, Stepchange, and the CAB can help.
    • bris
    • By bris 10th Nov 17, 5:41 PM
    • 7,042 Posts
    • 6,041 Thanks
    bris
    • #7
    • 10th Nov 17, 5:41 PM
    • #7
    • 10th Nov 17, 5:41 PM
    Well if you haven't heard then the answer is no.
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