Tesco Loan - Experiences

marks77

Just a quick one really - anyone recently dealt with Tesco's for a loan? How was the experience, application speed, decision etc....

Thanks

OMAR

i think....quite thorough and use equifax......always ask for wage slips.....not a quick process

speedbird1973

on the other hand I had none of that. 10 days from applying to getting the funds. Only issue was they didn't included an envelope to send the form off, so I had to call for the correct address.

marks77

Thanks for the replies. I went ahead, applied this morning and recieved a phonecall this afternoon. Accepted for 10k and money should be in bank by Weds after returning docs.

ukclarkkent

much the same as above. no proof of income needed. got a sizable chunk for a new 2nd hand car within days. would have been sooner but they got my date of birth wrong(or i did during the application - not sure which).

and they're waiting until over a month for my 1st payment. nice bonus even though it's not really a bonus in the long run).

do i get clubcard points? ;-)

Grovester_2

Wanted funds the next day and was told it was £50 to do this, but, had to get the forms sent back to them, quite how they were supposed to send me forms, and me send them back all in the same day.

Useless.

speedbird1973

Grovester.. how can they be useless because they can't achieve the impossible.. well short of biking the paperwork both ways which will cost more than the £50 admin fee!

Somewhat unreasonable there!

Grovester_2

speedbird1973 wrote: »

Grovester.. how can they be useless because they can't achieve the impossible.. well short of biking the paperwork both ways which will cost more than the £50 admin fee!

Somewhat unreasonable there!

Not impossible at all, in fact we applied for a loan on the Tuesday and had the funds on the wednesday from Lloyds.

Tesco state, funds available next day for a cost of £50 I expected to get funds the next day, not 7 days later!

If you had any idea of what you where talking about you'll find banks etc do offer funds next day, or even same day, which is what we did after we found tesco's required a week or so to arrange the funds.

speedbird1973

I've never been so poor at planning to need thousands of pounds the following day!

So how do they send an agreement to you? get the agreement back (48 hours minimum without a courier) and then send the funds immediatly to your account all for £50.

The Tescos offer means once they have your paperwork the money will be there following day. Lloyds also require you to have an existing account with them, so quite easy to transfer the funds etc etc.. You're comparing chalk and cheese