nationwide personal loan

hammersfan1

Hi

i applied for a nationwide personal loan online and got a quote and signed the agreement. got a message saying that it would be looked over vying.nationwide within 2 working days and i would hear by post.

Have i actually been approved for this loan and how long does it take for the loan to be paid out? It is going into a hsbc account.

Thanks

John

FireWyrm

No, you havnt been approved at all. What has happened is that the particulars have been forwarded to an underwriter, a human who will actually assess the loan for viability. Normally, the computer is set to approve anyone with a certain credit rating, so, my guess is that yours is lower than that. It doesn't mean that there is anything wrong, just that they want a real person to make a decision on it. Be patient for a couple of days. However, if you are refused, do not apply for another loan for atleast 6 months. Multiple applications in a short space of time will decimate what little is left of your rating and just makes you look desperate.