Tesco Loan

Kellyelle

I applied for a Tesco loan today , it said i had 80% chance of approval. I didnt get an instant decision. It said 2 working days , but when i called up they said 3-8 working todays. How likely do you think it is ill be approved?

DCFC79

Kellyelle wrote: »

I applied for a Tesco loan today , it said i had 80% chance of approval. I didnt get an instant decision. It said 2 working days , but when i called up they said 3-8 working todays. How likely do you think it is ill be approved?

Its anyones guess really, no 1 can answer as far as I know. How much were you asking for and whats your salary ?

[Deleted User]

Kellyelle wrote: »

I applied for a Tesco loan today , it said i had 80% chance of approval. I didnt get an instant decision. It said 2 working days , but when i called up they said 3-8 working todays. How likely do you think it is ill be approved?

80% likely.

WillyWonga

How much was the loan for?

If declined I would advise making another application for until the middle of next month.

Why? Well banks have lending limits. Applying at end of month is risky as say for example the bank has lent 90% of its target then it will tighten its own internal credit score making it harder to get a loan. On the other hand if only lent 60% it will lower score....

Well it’s not been a straight decline. Applying on a Sunday / Bank Hol can lead to referral as some systems are down/updating. Try and apply if possible during the week before 9pm.

Best wishes

Warslet

It's possible that your application has been referred for manual underwriting as it's not an automated decision. It will take longer than normal but an indication has been given and you may get a decision sooner.