Natwest Loan Credit Scoring

Hollyj_3

Thursday I applied over telephone to upgrade my step account to I was sold advantage blue, this was done and documents sent out in post

Then they tried to sell me everything, asked if i wanted o/d said yes, was declined, but told to run new account for 3 months then apply

Not too sure whether I get the maestro card, as he did ask me whether I had had a cheque card before which i had with hsbc

Asked if I wanted a credit card, this was declined, told after 3 months I could, but was told I could have a loan so I said yes, I went through application on phone, and asked how much I wanted said 5000 over 5 yrs, was told that that would be 112.88 over 60 months, tried to sell ppi, this guy really pushing to sell me this, I know i was credit checked at the time, as I was asked details of one of my loans, I was told the loan was agreed, the paper work as come with letter saying that my loan has been agreed subject to my paperwork being in order, and it does not say agreed in principle, my apr is 13.4%, I have been asked to send my wage slips, strange my wage goes into my step account for over last year, I have run my account perfectly no charges or anything

Can this be declined still at that stage or is this final and agreed, i am wondering whether better to go into branch with documents rather than posting.

It also says that once they have received my documents the money will be put in my acc within 2 days, I also should think my natwest internal credit rating with them will be excellent

So hoping my loan will go through and my current account, funny enough the guy on the phone did not try to sell me the advantage gold, but the advantage blue but earlier in the week my wife rang up to upgrade and they tried to sell her the gold account.

Kavanne

It could have declined there and then so you've done well. The most you can do is provide all the documents they ask for and wait for the decision from the underwriters. If it is declined at second stage they will tell you why.

But I wish you the best of luck and hope it goes through for you.

PS Even if you go into the branch all they will do is take certified photocopies of your documents and forward them to the underwriters, they won't be able to tell you there and then.

Hollyj_3

Why do you have to send you wage slips when the can see your wage goes into you account for over 12 months, all the have to do is look at your bank account

Kavanne

Holly, banks aren't rational. Do as they ask or they will just decline you.

donny_osmonds_mad_fan

yes I have had loans approved in principle, get all excited to sorting out things etc, send everything they want in and then nothing, 2 weeks later told no it hasnt been approved etc and as part of this was downgrading my account from a current to basic so with a solo card rather than maestro etc and sent my card back cut up....then took me 6 weeks to get cards again in my proper name etc...total nightmare!

Hollyj_3

they cant downgrade your account if it is run well

HeadInSand_2

Hollyj wrote: »

Why do you have to send you wage slips when the can see your wage goes into you account for over 12 months, all the have to do is look at your bank account

To prove the source of income is legit and not just cash in hand work or money being cycled between accounts.
At the end of the day, it's their money and they'll make you jump through hoops to borrow it - what with it being fashionable these days for people to weasel their way out of repaying loans by small technicalities, the banks are quite rightly tightening up somewhat.

HeadInSand_2

Hollyj wrote: »

they cant downgrade your account if it is run well

They could probably do as they please with accounts they administer!

Hollyj_3

But on your bank account and on your statement through bacs it says where the money is coming from, and the bank can make checks on your employer

HeadInSand_2

Hollyj wrote: »

But on your bank account and on your statement through bacs it says where the money is coming from, and the bank can make checks on your employer

Easier for them to just read your wage slips.

_Andy_

Hollyj wrote: »

But on your bank account and on your statement through bacs it says where the money is coming from, and the bank can make checks on your employer

If you want the loan with them and they're asking for payslips, then provide them.
If you aren't happy providing payslips for whatever reason, use another company.