If I've been "provisionally" accepted?

jackdeth

I've been accepted with Welcome Finance, at least I think thats the name. They could only offer me £2000, so I've still got some work to do if Lloyds don't help.

What are my chances of getting that money after I've completed the forms and sent them back? Do I just fill out the same answers as I gave them over the phone or is there loads of other stuff? Thanks.

Also, do banks offer the facility to transfer the money on a credit card into your current account? Basically according to lloyds online I can up my credit limit to 1500, so that money could be vital.

skintas_2

yep i have been pre approved with walker & hammond had to pay them £39.99 fee for sorting the loan as they are loan brokers, jack i wanna know same as you am i gonna get my money, did i check over the phone, sent me the forms i snet back with a fee now im sitting and waiting

JJ27_2

We recently got a flyer from Welcome so called them and they said we couldn't have a loan after all b/c we have car finance with them so that was that...

Then someone called us offering one about 2 weeks later and we told them we had been turned down and he said something had changed in our circumstances (it hadn't that we were aware of but...) and so my husband filled out all their blurb over the phone and they said they could offer £2000, rather than the £5000 we originally wanted.

We got the paperwork, had to sign it and send off photocopies of bank statements, wage slips, ID etc and the papers was plastered with the word 'accepted' and all and got quite excited. Sent it off and sat back and waited our 5 days for the money to be in our account. Day 4 we got a letter saying 'sorry, we are no longer able to offer you a loan.'

My husband called them and they said that it's down to their managers discrection, even at the 11th hour and they'd declined our application.

A total joke that they take you to the edge, get your hopes up and then just blow you off like that.

So, don't get too excited until you see the actual £££ in your account. It could all still turn bad.

Xbigman

You might get the loan you want but are more likely to get one at a much higher APR. And you will only find out if you really read the paperwork.

I once had a 9.9% loan accepted with some numpty company but had to go to their office to finalize. The paperwork said over 30%. I refused. I then had all the standard tactics pulled on me. Phoning the boss to get me a special discount (to 27%:eek: ), talking to underwriter again as I looked 'reliable', trying to keep my paperwork to stop me walking out, offering double what I wanted so I could get a rate reduction to 19.9%...
I walked out in the end but they then kept phoning for nearly a week, eventually getting down to 14.9%. I still refused.
Regards


X

Astaroth

If you search on here you will find lots of info about loan brokers aimed at high risk borrowers.

Be aware that Welcome accepting you does not mean that they will be able to find you a loan and your £50 (or however much they charge) fee is non-refundable.

Mr._Bish

Welcome Finance.

Firstly if you can get the money from your high street bank then they should be your prefferred option.

If you are accepted by Welcome then providing in your application you told them the truth then you will get the money.

Mr._Bish

Astaroth wrote:

If you search on here you will find lots of info about loan brokers aimed at high risk borrowers.

Be aware that Welcome accepting you does not mean that they will be able to find you a loan and your £50 (or however much they charge) fee is non-refundable.

Welcome Finance do not charge a £50 upfront fee.
Companies like Post Net and Advantage Loans do charge.

Also it is a little known fact that you can reclaim £45 out of the fifty back if they are unable to place you with a suitable financier. You do this by applying in writing directly to them, they will be hesitant but have a legal obligation to issue refunds.

Astaroth

Mr._Bish wrote:

Welcome Finance do not charge a £50 upfront fee.

I stand corrected.... thankfully havent needed to use companies like these and so can only go by memory of what I have read others saying on here.