nationwide personal loan ??

hammersfan1

MSE Official Insert:

For the latest loans best buys read our Cheap Personal Loans guide.

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After applying for a loan online with nationwide and getting a quote of 8.9% for a loan of 13500 over 5 years i got the following message after signing the loan agreement online:

ConfirmationThank you for signing your Personal Loan Agreement online.
Your application has been passed to the Nationwide Building Society personal loans team who expect to make a decision in principle within two working days. As a result of this review the rate quoted may change.
Nationwide Building Society will contact you by post to advise you of their decision.
When taking out a Personal Loan you should consider your ability to maintain the monthly payments. Nationwide Building Society offers products that may protect you in such circumstances. Visit your Branch or call 0800 302010 to find out more.Your reference number is:

has anybody else had a similar experience with.nationwide personal loans? I was under the impression that after applying online and them doing a soft search and getting a decent quote that i should be approved. have they already done a full credit search as i have signed an agreement?

Cheers

silo24

Sounds like you have signed an Application, not an Agreement.

Now you have signed the application, they will do a full search and come back to you with the offer and paperwork for you to sign if you want to accept.

hammersfan1

silo24 wrote: »

Sounds like you have signed an Application, not an Agreement.

Now you have signed the application, they will do a full search and come back to you with the offer and paperwork for you to sign if you want to accept.

Thanks for the reply.

I thought that myself but it does say thank you for signing your personal loan agreement.

Savvy_Money

I recently had a nationwide loan and was accepted immediately online, however I also have a flexaccount so maybe that was the reason for the instance decision.

Are you with the nationwide? If not they will ask you for evidence of monthly income via three bank statements and pay slips. This could be the reason why you have not had an immediate acceptance online.

hammersfan1

Hi

i don't have an account with.nationwide.but i did.have my.mortgage with.them which.is paid off and all payments were.made on.time.

hammersfan1

Update

my loan was actually approved but i received this message because the application got flagged as possible fraud. this has new been set straight so.hopefully i should have the funds soon.

hammersfan1

Now this loan has been declined! After they told me that it would be in my.account they have declined the application not due to my own credit report but because of an outstanding debt on my wife credit report who i am associated with via our joint current account. is there anyway around this?

[Deleted User]

Only by disassociating yourself from your wife, but it's not going to help this particular application.

hammersfan1

How do you go about doing this just out of interest? Obviously not getting divorce lol

BargainMad_3

hammersfan1 wrote: »

How do you go about doing this just out of interest? Obviously not getting divorce lol

I can answer your question, but it might not be the answer you want to hear....:(


In your circumstances it is not possible to "de-link" yourself from your wife as you have (or have had in the past) a joint bank account. Joint accounts would include mortgages, loans, credit cards, bank accounts - indeed anything at all which is a joint financial association.

pjproctor

For all the time your wife lives at your address she will be associated with you on your credit file....