Natwest Loan - agreed in principle

manceinion

Hi All
This is the first time I have posted here, and after some advice?


I have applied for a NatWest loan for £7000 and it says it has been AIP. the paperwork will be sent through the post, I received an email off them saying welcome to NatWest loan, we are here to help etc...


Now..I have poor credit with Experian - 609. the loan is to pay other debts like credit cards, other loan and an overdraft with Santander, so I can start a fresh. I was surprised that I was AIP. my salary goes into Santander, and NatWest there is only used to keep some money separate, I have about £400 in it at moment. I was declined a credit card by them an also an overdraft.


I know no one can give me a definite answer to this, but has anyone else been give an AIP before by NatWest, with poor credit and got the loan, or am I expecting a decline letter? I have rang them up and they said all they need is the signed paper work and 3 month wage slips, which is no problem, then the decision will be with the underwriters. I know I should not get my hopes up, as I have poor credit, but I have no defaulted on anything before.


any advise, anyone?


Thanks

zxspeccy

An agreement in principle is exactly that, providing you have been truthful in your application and can provide the additional evidence (payslips) they require then your loan is approved. Just need to sign the forms and return them.

manceinion

Thanks for your reply zxspeccy. getting the payslips to them is no problem, I'm usually an optimistic person, I'm just waiting for them to decline it. I did apply for £8000 and they declined that straight away, but with the £7000 they AIP. so I'm just hoping and keeping everything crossed, as this would be the best news then I can start 2015 a fresh, cut the cc up, pay the overdraft and other loan off and one monthly payment. I really do hope that they will give it to me.


I'm just wondering has anyone been declined before at this stage?


it nail biting stuff!!!

Foxy-Stoat_3

Had this recently, similar amount, reasonable credit history they asked for payslips etc but got declined.

manceinion

Just as I thought Foxy. shame, really, as they really should decline it straight away, it would save them time as well as us.

Foxy-Stoat_3

Well that was my outcome, doesn't mean it will be the same for you.

Only the folk at Natwest and their computer will know if its a decline/accept.

manceinion

Let's hope someone is on my side for a change!!

zxspeccy

Fingers crossed. The usual reasons for a loan to be decline after it has already been "agreed in principle" is where inaccuracies on the application are discovered. For example if you say that you earn £25K on the application, but the payslips you provide show that you income is much lower than what you have declared.

manceinion

I've received the paper work through today. I have the payslips to send. as it a loan to pay other debt off. they are asking if it is for this reason, to send statement etc..do you think I should not send them and just say it for a normal loan. as all my statements are paperless, and I would only be able to provide copies printed out. any advice? or just bight the bullet and send the copies I printed off?

jonesMUFCforever

Give them all the information they want - do not try to be too clever and second guess them.
Keep copies of your payslips in case they get lost in their systems.

dealer_wins

manceinion wrote: »

I've received the paper work through today. I have the payslips to send. as it a loan to pay other debt off. they are asking if it is for this reason, to send statement etc..do you think I should not send them and just say it for a normal loan. as all my statements are paperless, and I would only be able to provide copies printed out. any advice? or just bight the bullet and send the copies I printed off?

This is why you should and hopefully will be declined. Prepared to commit fraud to get a loan!