M&S Bank - poor service

Blaketon

I applied for a loan online with M&S bank last Friday morning and received an auto reply. On Monday I had an email from their underwriters asking for the last 3 months bank statements which I sent by return as attachments (PDF). On Wednesday I phoned to see how my application was going and was told they had scanned the bank statements "onto my profile" and my application was "in a queue" and that I would receive an "email with a decision". One week after my application I have heard nothing. I should add that my credit score is excellent, my income will easily cover the loan, I am a house owner with no mortgage and I have savings. Based on my experience with M&S Bank I would say their service has been abysmal.

[Deleted User]

Unfortunately your credit score has no impact on gaining credit, hence their questions..

Contact them to find out if the delay is due to resource or the need to further check your application, although a week for a referral is not excessive.

foxy-stoat

Just because you are a homeowner with no mortgage and savings doesnt allow you to jump the que of hopefuls dreaming of been offered the magic headline rate.

ReadingTim

So it their service is so abysmal then vote with your feet and go somewhere else - given you're such a credit-worthy customer you'll be welcomed with open arms by M&S Bank's competitors won't you?!?

Blaketon

M&S Bank say that a decision will be given within 3 to 5 days. A week later I am still waiting. As I said, poor service.