Tesco's Loan

Joeler

I applied for a Tesco's Loan of 7.5k on the 5th Jan. Got agreement in principle on call an hour later, said no need to send in any bank statements or utility bills, but to return signed loan agreement and they would process and give a final decision. Due to snow etc they only received my signed agreement on Friday 15th.

I called up yesterday to see what the verdict is, and they said it was with the sanctioners and someone was in the file so no one could give me information on what the status was. The lady on the phone said to me to call back in an hour or so and they should be out of it and have further information.

I called back after work, (6 hours later) only to be told someone was still locked in the system and they may not have an answer for a couple more days.

Seriously all I want is either a yes (happy days) or a no (I'll just go to my bank and prob get it sorted same day, although at a slightly higher rate...)

I know the snow etc has slowed this process down, but nearly 3 weeks before a final decision after pre-approval just seems really long winded.

Anyone got any similar experiences with Tescos' loans, and is the fact it's with the sanctioners good, bad or just normal!

Thanks!

antsmack

Hi

I applied for a tesco loan in the back end of december and got a decision within 2 weeks just at the start of jan i think they have had alot of applications because of there low APR at the moment just sit tight mate

busterbloodvessel

They dealt with it really quickly, had a decision over the phone almost immediately like yourself, money came in two weeks later.

Joeler

Cheers guys. Patience isn't my strongest accolade but working on it!!

dubizoobi

Hi
12 Weeks after applying for a loan, with Tesco Iam still waiting for all my docs to come back to me. I have phoned customer care for advise on this matter and they informed me they will send out my docs in the morning post.
8 weeks later phone call after phone call, I still have not recieve my docs
which include my p60 I need for tax. I was advised the loan would be with me 2 weeks after the date I applyed 12 weeks later nothing I whent to Halifax Had loan with in 48 hours now canceled Tesco

Joeler

Cool thanks and sorry about your situation!

I've had a loan with Halifax before so will just go down that route if I get no joy in the next few days...

Thanks

Joeler

Declined... What a waste of my time.

phoenix85

Really strange, I was 8 days (calendar days!) from applying with Tesco to having the money in my bank account.