Nationwide loan - what happens next

helpneededprettyquick

Hi can anyone advise what happens next I am a nationwide customer and applied on line for a loan it took me through all the usual then came up with an approval then an online document to sign and t and c to read then said someone should be in touch in next couple of days ... does this mean I have got it or could they turn around and say no ??

Denning.

Should just appear in your account with a letter in the post confirming it and a copy of the contract.

Fishingtime

What happens next ?

You either get the money or you don't ( Simples )

_Andy_

helpneededprettyquick wrote: »

Hi can anyone advise what happens next I am a nationwide customer and applied on line for a loan it took me through all the usual then came up with an approval then an online document to sign and t and c to read then said someone should be in touch in next couple of days ... does this mean I have got it or could they turn around and say no ??

Have you asked Nationwide?

rabbit_burrow

I had the same thing, 'signed' the credit agreement, then got to that page where it said that it was with their loans team and they endeavour to deal with the application within 2 working days.

It also said that the APR might change following review, and that I would be n formed of this through the post.

I'm still confused as to whether I have actually officially been approved or not, so it's a waiting game at the moment. Will have to save for several months if I don't, I hope the flat roof holds up long enough as I don't really fancy an open-air kitchen:D


EDIT: I'm not a nationwide customer though, so the process may be different

helpneededprettyquick

Well got the answer so thought I would update ... they said no even though on the application online it said yes .. they wouldn't give me the reason which is the usual ... I advised them I have a default which I was disputing however even though I bank with them it is still a no .... so moral of the story even if they say yes when they check it may be a no ..... hey ho

fozmcfc

Well thanks for letting people know, as many don't

That's bad luck, but most lenders will give an in principal decision, before making a final decision.

Think it's pretty obviously the default is the issue.

Because there are 3 credit reference agencies, some items only appear on 1 or 2 of them. If companies only use 1 during the initial application then it may be during the further check stage, where they look at one or both of the others, they find something and then say no.

Of course if the default is in dispute and you win your case and it is removed, then it stands to reason, your chances will be higher in the future.