Tesco Loan Application

cheese84

Hi All

I applied for a loan with Tesco via their website just over four weeks ago, got approved in principle immediately and have since sent of the documents. A couple of days later they confirmed receipt but unfortunately I forgot to return a document they wanted me to sign and they needed me to send one extra proof of address - I sent this two weeks ago however they are still saying they have not received it! The website says that you may experience a delay due to postal strikes, however as far as I can tell there is no strike at the moment and, even if there were, two weeks to receive a letter still does not sound right.

Are they just using the post issue as an excuse for a large backlog? Is anyone else having issues with them or has anyone had their loan sorted in the last couple of weeks? At the moment I feel like they are fobbing me off!

Another thing that sounded weird, when they asked me to send the remaining docs off they confirmed the loan had been agreed in full (based on bank statements and the one proof of address I sent) - would they normally do this without the signed Credit Agreement?

Thanks

BigDave81

If you search on Tesco loans you will see a lot of similar threads and also a fair few people actually finally getting the loan.

Seems to be a large backlog and delay with them at the moment, just hold tight.

cheese84

Ah, did try a search but didn't find anything relevant - only a few from when Tesco were trading under Ulster Bank. If you wouldn't mind, would you be able to post a link?

Thanks for your reply

BigDave81

http://forums.moneysavingexpert.com/showthread.html?t=2010627&highlight=tesco

http://forums.moneysavingexpert.com/showthread.html?t=1987057&highlight=tesco

http://forums.moneysavingexpert.com/showthread.html?t=1955123&highlight=tesco

http://forums.moneysavingexpert.com/showthread.html?t=1980773&highlight=tesco

cheese84

Thanks for that, puts my mind at rest. Hopefully they will pull their fingers out soon and get it sorted.

Woodywoodside_2

I am in the same boat, but have started getting calls from other loan companies. Which sent alarm bells ringing as I have read that if you are declined they pass on your details to other companies. I have sent and they have received all of our paper work but they say they have still not approved the loan. The agreement in princeable came the next day, I sent every thing back they asked for which they received but still no joy.
I know what an agreement in princeable is but how do they get it. Will it mean they have just done a basic credit check or do they just go by what you have on your application. At what stage do they refuse. Has any body been refused with out an agreement in princeable thats what I would like to know.
By the way sorry to ramble.

quackers82

Woodywoodside wrote: »

I am in the same boat, but have started getting calls from other loan companies. Which sent alarm bells ringing as I have read that if you are declined they pass on your details to other companies. I have sent and they have received all of our paper work but they say they have still not approved the loan. The agreement in princeable came the next day, I sent every thing back they asked for which they received but still no joy.
I know what an agreement in princeable is but how do they get it. Will it mean they have just done a basic credit check or do they just go by what you have on your application. At what stage do they refuse. Has any body been refused with out an agreement in princeable thats what I would like to know.
By the way sorry to ramble.

My understanding is that if you get an agreement in princeable with tesco it only means you've past the credit agency check. I could be wrong.

phidy2010

quackers82 wrote: »

My understanding is that if you get an agreement in princeable with tesco it only means you've past the credit agency check. I could be wrong.

od like to know this also!:beer: