Halifax personal loan application to call the advisor

Anniepick

I recently opened halifax current account and on the app it shows me the quote of personal loan so i applied for it.
After that there is screen asking me to call the halifax advisor then continue. Does anyone know what it does mean, do i pass their initial assessment? Thanks

[Deleted User]

No. It's a referral, so can go either way.

Anniepick

So the underwriter/advisor will manually look at my credit profile and then decide accordingly to their criteria?

[Deleted User]

Yes, or check a few specific things with you.

MichaelMe

As someone who has processed countless credit applications in the past, I’ll try to offer a bit of advice.

When you make an application for credit. One of 3 things will happen. It will either get automatically approved or declined by the lenders application platform.

The third outcome is when the automated platform cannot make a decision for any number of reasons. This I would say is the most common outcome, for most people. When this happens the application is then referred to an underwriter, for manual review and decision.

It happens for many different reasons and varies a lot depending on each individual applying for credit. Some of the most common reasons are:

Income verification. I.e. The lender needs to verify the income you have declared.

Anomaly on your credit file which needs further investigation or clarification. This may involve simply talking with you on the phone. Asking a simple question about an item on your credit file or two.

Possible fraud concerns which needs to be looked into further. I.e. ensuring it is really you applying and not someone pretending to be you.

The above are just a snapshot of the possible reasons for a referral. But regardless of what it is, the lender will need to speak with you. It’s nothing to worry about as such if you have provided all the correct information.

Just contact them and go from there. Hope the info helps.