RBS Loan - Help?

Slure · 8 March 2017 at 2:31PM

Hi,

I recently applied to top up my RBS loan of £6,500 with a £9,000 loan over 5 years. This would reduce the monthly repayments by around £50 per month compared to the existing loan, which in the short term would allow me to tackle some of my other debts. I plan to use the money (if accepted) to pay off another small loan which will also free up a further £100 per month.

I've also got a very useful amortization calculator which I will be using along the way, and hopefully I can pay things back with no real negatives (i.e paying new loan back before old one would finish to save on interest).

My question is, having applied online with RBS yesterday (and with a credit check from RBS showing as being carried out yesterday also) will I have been accepted, or what 'additional documents' are they likely to send me?

I was shown a payment amount per month, but they will be sending me an application pack - any idea what this contains? Last time I did it all online and I didn't need to jump through this particular hoop.

Any help would be greatly appreciated, anyone wanting to have a pop at me about debt etc, not so much!

Cheers

[Deleted User] · 8 March 2017 at 2:52PM

Things have changed a lot for money laundering checks, they will ask for what they ask for.

DCFC79 · 8 March 2017 at 2:59PM

When you get the loan do make sure you use it for the purpose you intend as we get OPs who post saying they are in a pickle as the debt has grown as they didn't use the loan for the purpose intended.