approved in principal

houston

I've been approved in principal for a loan with RBS, is that good or bad?
any info would be great,thanks

xgingerx

Hi, I got this last year, passed the basic credit check and then got a letter to send in last 3 months bank statements and because I was overdrawn within my limit for most of that time they declined my application based on that not my credit score which was good!!

I didnt think it mattered but apparently it does.

houston

wages go through RBS, not been O/D so it could be ok.

xgingerx

Hi, sounds goods to me

usually agreement in principle is just to complete final checks and if they want any further info to back up anything on your application, it was just me being unlucky not knowing that been overdrawn within you limit all the time looks like a bad trend so i was told

houston

its all a bit of a game really! thanks anyway

wardlaw

Houston

As long as you have been up front, told the trueth about such things as income, and received a decision in principal I really do not think you have anything to worry about

A "DIP" involves a credit check, so if something is "unearthed" you might of been declined Obviously after the vretit check was done you have clear credit

In my experience I have never had a clients loan declined if A DIP has been granted

Sleep well:T

John

houston

:j fingers crossed