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Nationwide loan query - Agreed in principle?

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simax
simax Posts: 1,976 Forumite
Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
in Loans
Applied Sunday. Agreed in principle. Signed online (existing FlexAccount holder).

Any ideas on turnaround time to complete? Also, any nasties to be aware of? Do they decline at this point?

Thanks :)
I spent 25 years in the mobile industry, from 1994 to 2019. Worked for indies as well as the big networks, in their stores also in contact centres. I also hold a degree in telecoms engineering so I like to think I know what I’m talking about 😂

Comments

  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    Mortgage-free Glee!
    what apr did they offer?(often a sign of whats on their minds)
  • simax
    simax Posts: 1,976 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    15.8% was the APR quoted. Been with them 13 years, got 2 FlexAccounts, 1 select credit card (£750 limit £0 balance) and £1,000 OD on one account (never used once).
    I spent 25 years in the mobile industry, from 1994 to 2019. Worked for indies as well as the big networks, in their stores also in contact centres. I also hold a degree in telecoms engineering so I like to think I know what I’m talking about 😂
  • Apples2
    Apples2 Posts: 6,442 Forumite
    simax wrote: »
    15.8% was the APR quoted. Been with them 13 years, got 2 FlexAccounts, 1 select credit card (£750 limit £0 balance) and £1,000 OD on one account (never used once).
    Well that sounds like a shockingly poor APR if the rest of your credit file reflects what you have posted.
  • stephane_2
    stephane_2 Posts: 3,076 Forumite
    Apples2 wrote: »
    Well that sounds like a shockingly poor APR if the rest of your credit file reflects what you have posted.

    If the amount requested is quite low...then it's not that bad. Most lenders will have an APR of around 14%/15% for anyone borrowing less than 5k.
  • simax
    simax Posts: 1,976 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    I'm happy with the APR quoted, otherwise I wouldn't have clicked the apply button. That wasn't the question I asked. Thanks for the input though :)

    Got an agreement as well with the loan account number and sort code (not that it means anything)
    I spent 25 years in the mobile industry, from 1994 to 2019. Worked for indies as well as the big networks, in their stores also in contact centres. I also hold a degree in telecoms engineering so I like to think I know what I’m talking about 😂
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