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Agreement in principal
Hi
Got accepted over the phone with my bank (Natwest) for a loan - agreement in principal.
They're sending me the paperwork, which I'll send back, then they do any checks and do final decision.
I have a clean credit record, and only search in last 6 months will be by Egg from when I tried for a top-up with them last week. They declined what I wanted but offered an alternative. Will this affect things with Natwest or not?
Thoughts welcome.
Cheers.
Got accepted over the phone with my bank (Natwest) for a loan - agreement in principal.
They're sending me the paperwork, which I'll send back, then they do any checks and do final decision.
I have a clean credit record, and only search in last 6 months will be by Egg from when I tried for a top-up with them last week. They declined what I wanted but offered an alternative. Will this affect things with Natwest or not?
Thoughts welcome.
Cheers.
0
Comments
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Anybody have any idea?0
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Not if you have already been accepted. Check the APR carefully to make sure you get the one you applied for.
I just applied for a Northern Rock one at 5.7 and got a rate of 10.9 !!!!!0 -
#Yeah 'Typical Rate 5.7%'Help me to help you :santa2:0
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Cheers guys.0
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dings wrote:Hi
I have a clean credit record, and only search in last 6 months will be by Egg from when I tried for a top-up with them last week. They declined what I wanted but offered an alternative. Will this affect things with Natwest or not?
Cheers.
You shouldn't have anything on your credit record from Egg, I done one quite a few months ago and no credit search was done, although they did increase my balance to 15K. So I think you should be ok.0 -
Hi all again, and after more reassurance...
I have got an "agreement in principle" with Natwest after applying over the phone, and they have sent me the forms to complete the process. When I send them back I need to include my most recent credit card statement and most recent loan statement, both of which I now have.
Reassurance is my problem I guess - just tying to find out what, if anything, can cause them to change their mind when I send all this stuff back. I guess they need them to establish that I was telling the truth re-amount owed elsewhere (it's a consolidation loan that will save me money each month, and I was/am being truthful).
I guess like most people, I'm just nervous of them saying no in the end...
Any help/reassurance would be most welcome...
Ta
Dings0 -
any thoughts anyone?0
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Spam reportedI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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Herbie
Not spam at all, I was merely seeking some reassurance as I'm nervous I will eventually get refused.
Fortunately, I got such reassurance from someone with some experience in the field on the debt free wanabe board.0
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