Tesco Application Process Query

Laver

Hello,

I applied for a loan yesterday with Tesco for a car.

£7.5K over 4 years.

My credentials are: £27K salary with monthly outgoings of £750 mortgage, £87 Other outgoings and £2100 over two credit cards (Virgin £1K limit and BC £3K limit).

At the end of the process it said that Tesco would call me back in a few days to discuss my application.

My query is; is this normal Tesco process?

I only ask as I've done a search on 'Tesco' in this section of the forum and lots of people have said they have 'Agreements in Principle' straight away.

Thanks

DCFC79

Why worry about it now ?

They most likely want to check some details or ask further questions re the loan.

Laver

As I said, I'm just curious considering the other Tesco Loans related threads on here.

jonnno

We too have applied for a Tesco loan partly based on what we've read on this forum but we've had to wait nearly two weeks so far. Is this normal??

Cash_Flow

Laver wrote: »

Hello,

I applied for a loan yesterday with Tesco for a car.

£7.5K over 4 years.

My credentials are: £27K salary with monthly outgoings of £750 mortgage, £87 Other outgoings and £2100 over two credit cards (Virgin £1K limit and BC £3K limit).

At the end of the process it said that Tesco would call me back in a few days to discuss my application.

My query is; is this normal Tesco process?

I only ask as I've done a search on 'Tesco' in this section of the forum and lots of people have said they have 'Agreements in Principle' straight away.

Thanks

Last week I was approved for a Tesco Loan of £7500 @ 8% the loan was to pay off another loan

my existing debt was a lot higher than your and my available credit at the time of application was more than my annual salary of £31k pa.

My application was agreed in principal straight away and I was asked to send 1 months bank statement, from start to finish the application took about 8 days.

Cash_Flow

jonnno wrote: »

We too have applied for a Tesco loan partly based on what we've read on this forum but we've had to wait nearly two weeks so far. Is this normal??

why not give them a call?

jonnno

Cash_Flow wrote: »

why not give them a call?

Have done ... they needed a letter from our mortgage company as this had changed names so they needed evidence of that. We then got another letter from them saying it will be dealt with. It's nearly 2 weeks now ... I thought they were a lot quicker than this ...