co-op bank Loan advice

n90bar

Hi guys

Applied for a PL 8 days ago and received an accept email within a couple of hours. Great I thought! Paperwork arrived Mon/Tue and was received by their office on Thursday past (I know this because I sent it back Special Delivery, and I checked on Royal Mail tracker system). Since then nothing has happened. I rung them yesterday and they said oh theres nothing on the system about it - we musnt have looked at the returned paperwork. I'm a little annoyed at them as their website clearly says once the paperwork has been returned you will receive notification of the loan been paid to you within 1-2 working days. Clearly this hasnt happened.

Does anyone have experience of the Co-op and know how long these things take?

cheers

n90bar

anybody with advice?

pinkarsenalprincess

Don't know about the banking side of things but the insurance people at co-op are beyond useless. After the experience I have had I wouldn't touch them with a bargepole for anything at all!

As for your op....I hope someone comes along soon with a bit more useful advice!

chalkie99

Don't know but would have thought if they received it on Thursday, as you say, then maybe the first full day would be Friday and it would then roll over to Monday as the second full working day.

n90bar

thanks for the advice guys....maybe shouldnt have been so keen to pick up my new car on the 1st March - fingers crossed it works out!!!

KingElvis

Maybe the underwriters have the app and it has hit a "snag"?

n90bar

Oh I do hope not....I was under the impression everything had been credit checked and was good to go - they only needed a signed agreement. Maybe this is not the case- not sure what to think!!! Thanks for the reply.

ryantcb

I am with the Co-op and have been for years. They tend to be very quick if you have signed and sent make the agreement. When I get loans or credit cards I can see it on my online account almost immediately. If you Bank with the Co-op log in and see if the new loan account has been added to your accounts online.
If it went to the underwriters then you wouldnt have received your agreement to sign.

n90bar

thanks for the reply!

I dont bank with Co-op so maybe it makes a difference. I'll have to ring them again tomorrow....would just have been nice not to have been worrying all weekend about it!!!