How quick can you get a loan?

ManicMum

Hello

how long does it take to process loans? What will they need? Bank statements, credit check? Do they need employer reference? Just that hubby needs to leave UK quicker than expected but need to get loan first. So might be technically unemployed when he signs paperwork but soon to be employed abroad. Prob about 10k loan. Not looking for super fast 2000% job/payday loan etc. Just regular one!

cheers

Donki

I got an M&S one in 5 working days, applied online on the Friday morning got a phonecall with an offer that afternoon. Paperwork arrived on the Monday I posted it back on Monday afternoon and the funds were in my account on the following Sataurday morning. Just make sure you return everything as soon as you get it. Good luck.

InsideInsurance

It will depend on who you apply with and what relationship you have with them.

If you apply with your own bank you may find it can be done exceptionally quickly as they already know you, have already done all the ID checks etc. Applying with a company you have no relationship with can be longer and may require a lot more documentation.

Apples2

10k loan to someone unemployed who is just about to flee the country?
Should be a cinch.

DCFC79

Apples2 wrote: »

10k loan to someone unemployed who is just about to flee the country?
Should be a cinch.

Easier to rob a bank would it not ?

ManicMum

just knew you'd follow me here. Get a life.

cajef

ManicMum wrote: »

Just that hubby needs to leave UK quicker than expected but need to get loan first.

Trying to work this one out, three weeks ago you were a single parent with three kids to support, now you have suddenly gained a husband.

https://forums.moneysavingexpert.com/discussion/3910725=

Apples2

Nutjob? family of crooks?
Either way, something completely sinister and not entirely kosher.

ManicMum

No, you are just a very rude person with no intellectual capacity of your own, who just follows the masses. Or hopefully the minority.

Tixy

To answer the question of a loan.

If he is unemployed then he will be unable to get a loan for £10k. If he waits until he is 'technically employed' then on the application he will be required to fill in who his employer is (is it a UK employer?) and how long he has been with that employer. If the answer comes back a couple of weeks, then again he stands very little chance of getting a loan.
In the unlikely event they consider someone in that circumstance they'll certainly want documented paperwork proof of the employment from the employer.

For someone who is in stable employment and has a stable financial background its perfectly possible to get a loan applied for, approved and receive the funds in a week.

Takeaway_Addict

I got my loan from lloyds into my account in under 24 hours