Natwest loan decision

tara1082

Hi there i need some advice,i have just applied for a personal loan with Natwest through online banking for £8000, i went through the application and was "accepted in principle" it asked me which of my accounts i want the money in and which account i want the direct debit for the loan repayments. Does this mean i have got the loan? Or just that i might have it?
I have not taken out a loan before and am a little confused. Thanks for any help.

zppp

Agreed in Principle means they will agree it subject to you sending in crddit agreement forms and may require additional information to proceed. Your best bet is to call them on 0845 604 1 604, choose option 2 and the lending guys will be able to tell you the exact status of your loan, otherwise you will need to wait until paperwork arrives.

fozmcfc

It means on the information you have provided on the application, that they see no problem. But they will make some further checks before you will know if you will get the loan or not.

There is a possiblilty you may have to provide them with further information or you might just get the papers and the money in your account without any further contact from them. Or you may get a sorry on further checks we can not offer you this loan type letter.

When I got my loan years ago, I seemed to remember that they sent me papers to sign, then the money appeared in my account. There is a chance now that the whole process can be digitally signed and you'll get the money in the account and the loan paperwork for your records.

No one here I guess will be able to give you a definate answer as to whether you have definately been accepted, the only real way to find that out is to ring them or just wait.

KingElvis

It's just that, an agreement in principle.

With Natwest, they give you the chance to "sign online" if you meet ALL their requirements and the cash is there next day, I did this in December.

I guess they just need additional info in your case, don't see it being a problem.

Phoenixx_2

I have heard from the National Debtline that disputing bank charges is dead in the water now, so they don't seem to think this is a good basis to contest the amount of the debt. I am hoping that SAR may throw up some other stuff, as I don't recall receiving notification that they were going to close down my account, etc.