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loan accepted for nationwide but loan for tesco question

phidy2010
phidy2010 Posts: 27 Forumite
What happens next


Thank you !! You have successfully completed your application for a Tesco Loan.
If your loan is approved in principle the pack you receive from us shortly will include a letter confirming the APR offered to you (Please Note: the APR offered is dependant on your personal circumstances and financial behavior and in some cases may be higher than the APR referred to during your application). We may also request some additional documentation from you at this stage.
NEXT STEPS (if loan is agreed in principle):
1. Agreement in Principle posted within 2 business days.
2. Check documents paying particular attention to key details such as loan amount, term and bank account number.
3. Return signed documents along with any additional information requested.
4. Final decision on your loan application - this will usually take 3 business days from when documents are received.
5. Letter sent to confirm application decision. If your application is successful the funds will be in your account no longer than 3 business days after the final decision has been made.
It’s as simple as that.
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applied just now as the apr is a lot less but what does the above mean? thank you
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