Is getting a loan this easy???

orangepot

Applied for a loan from my bank, online.

Got sent some forms a few days later, with loan general info and a form for me to sign.

Seems that's it.

Am I missing something? They have not asked for any additional documentation, however, am sure that they would need to see something surely?

It say's to sign the "blue form" and enclose any additional documentation, however, it has not asked for any additional information, so just a bit confused.

Anyone?

Stuart_W

...if they're your bank then that's probably it. They already know you, don't need further id and the documentation in the post is a confirmation to them that you are the person at the address you've given. Hand in the form and you'll get the loan - especially if it's going to be paid directly into your existing account. It really is that easy to enter a lifetime a debt.

orangepot

Thanks for that.

Do you think I should just enclose some self employment confirmation as a precaution, or shouldn't I bother?

Stuart_W

If you got the copies handy, in won't hurt. Certification of self employment income probably will be worth sending - but perhaps, as it is a personal loan and they are aware of your personal bank account history, being your bank, that might be enough evidence of regular income.

kleapatra

I got accepted for a M&S loan recently. I filled in the online application in the evening (it didn't ask me that much to be honest) and I had an email first thing next morning saying I had been accepted. I received the loan forms to sign the next day and sent back the one bit of pink paper signed on the Monday - the money was in my account by Friday. It was unbelievably easy and I wasn't asked for any proof of anything - was very surprised to find out it was that easy to borrow a substantial sum of money!

paulmcerlean

It will be very easy to get a loan should you meet the criteria with your own bank - they dont need a lot of additional info and signatures from you as they know about you already and your ability to repay.

In some cases, you can even sign online and get the money immediately.

KingElvis

I had my money from Natwest the next day, less than 24hrs so yes, it can be very easy if you've got a good credit history.