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Applied for a loan - has credit check been done?
Morning all
I applied for a loan with the Post Office which had a 9.5/10 chance of being accepted for the offered rate of 3.2%.
At the next stage, this changed to 16.4% so I made the decision to not proceed with the loan. I have received the loan application in the post today asking me to sign the copy of the credit agreement.
My question is, has my application passed the credit hard search already or would that be carried out if I proceeded? I think it would have been done prior to this stage but wanted confirmation.
Thanks in advance.
Comments
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They'll have carried out the credit check in order to be able to determine what to offer you.1
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It will show as a search on your credit files.
You must have passed the search to be offered a loan albeit at a higher rate.0
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