Santander Loan

jwill100

I had a loan agreed with Santander on the 9th July but still waiting for them to release the funds. They say there was an IT issue but will not give me any indication when they will release the funds. They advertise that funds are released in 2 days once all approved! 

Anyone else having a problem? 

infrapink75

Hi Jwill100, I joined this forum this morning specifically for this reason. I'm currently being held hostage by Santander as they've approved and done the credit check, so I'm reluctant to go elsewhere while waiting for the to overcome their "technical glitch"... I was applied on the 7th, and signed to release on the 9th as well. I've been with Santander since the 90s so thought they were reliable. But last night I looked up reviews and they have 1.4 rating on Trust Pilot so something is amiss! It's not good, but I'm glad I'm not the only one in this situation

infrapink75

I beg your pardon, its 2.4 rating, not 1.4

Nasqueron

infrapink75 said:

Hi Jwill100, I joined this forum this morning specifically for this reason. I'm currently being held hostage by Santander as they've approved and done the credit check, so I'm reluctant to go elsewhere while waiting for the to overcome their "technical glitch"... I was applied on the 7th, and signed to release on the 9th as well. I've been with Santander since the 90s so thought they were reliable. But last night I looked up reviews and they have 1.4 rating on Trust Pilot so something is amiss! It's not good, but I'm glad I'm not the only one in this situation

infrapink75 said:

I beg your pardon, its 2.4 rating, not 1.4

People almost always post negative reviews, many never post positive reviews when things go smoothly. Many people are, to be blunt, dumb, like they apply for a £50k loan with earnings of £15,000 and debts of £10,000 and then give it a 1* review when they get rejected. Don't put any stock in online reviews especially for banks, at least something like the MSE 6 monthly banks review is done by people a little more savvy about reality

infrapink75

Actually most of the reviews had nothing to do with loans, but customer service and business account changes. I found some historic (ie 2011) accounts of people having similar experiences with Santander not paying out approved loans and not communicating. I spoke to them yesterday they said this "glitch" has affected about 2000 people but still no initiative to communicate from their side.

Nasqueron

infrapink75 said:

Actually most of the reviews had nothing to do with loans, but customer service and business account changes. I found some historic (ie 2011) accounts of people having similar experiences with Santander not paying out approved loans and not communicating. I spoke to them yesterday they said this "glitch" has affected about 2000 people but still no initiative to communicate from their side.

Exactly - bad review about loans for something nothing to do with loans or complaining because of checks delaying things

block10

jwill100 said:

I had a loan agreed with Santander on the 9th July but still waiting for them to release the funds. They say there was an IT issue but will not give me any indication when they will release the funds. They advertise that funds are released in 2 days once all approved! 

Anyone else having a problem? 

Hey, 

I was wondering if this issue is now resolved?

I also applied for a loan on 31st July and now waiting for funds to be released.