Nationwide and Money

hourami

Applied for a loan last Wednesday and was accepted in principle but the cash has still not arrived. Does anyone know how long it normally takes for the money to be deposited.

Thanks

27col

I would have thought that acceptance in principle does not mean definitely accepted. Probably you need to wait for some sort of actual firm offer.
Why are prospective borrowers always in such a hurry to get the money?

I have just read your previous posts. With debts like that you cannot seriously expect to take on yet more debt. I think that your loan offer in principle will turn out to be no offer at all.

debtcutter

As above, if you were accepted in principle and haven't heard since, I wouldn't expect to receive the money anytime soon.

Ages ago my neighbour had picked my post up accidentally, so I didn't know I'd be declined for a loan until I called them as often they will just write if they decline you, not call.

Give them a call and see what's happening

simax

When I applied and got accepted in principle, I got the money in my account the next working day.

hourami

27col wrote: »

I have just read your previous posts. With debts like that you cannot seriously expect to take on yet more debt. I think that your loan offer in principle will turn out to be no offer at all.

Thank you for your initial comments which were slightly unhelpful. I am actually completely debt free and was posting on behalf of someone else who had applied and wanted to know so thought to come on here and see if anyone has any experience of it.

_Andy_

Crazy idea - ring them and ask

hourami

_Andy_ wrote: »

Crazy idea - ring them and ask

WOW that is a crazy idea, did you come up with it all by yourself? LOL

I just wanted a small piece of advice guys, in the experience of those that have applied to Nationwide how long does the whole process take. That was the extent of my question.

Thanks

simax

Hi hourami,

Have a look at my response above. If you've not had the money by now I'd be expecting a decline letter, unfortunately.

SammenForLivet2

At this stage, I would expect that they may write and ask to confirm some details, such as asking for a copy of your pay-slip.
If you don't want to pay for the call, you can dial freephone: 0800-30-20-10.
It also depends on your bank, since according to them, if you bank with Nationwide, then it's 1 day and for everything else it's three to five working days (via Bacs?)


I also have applied for a Nationwide loan, banking with Barclays, so If i receive my funds, I will update, with the timescales.

Macca83_2

ten days. I had to provide id etc which was all sent off

hourami

macfamilyent wrote: »

I also have applied for a Nationwide loan, banking with Barclays, so If i receive my funds, I will update, with the timescales.

Many Thanks!