Tesco Loan approved in principal

hoggani1

Hi -

I have just been approved in principal for a tesco loan (£3000), I received the paper work today to sign, but they also want a bank statement for the last month. Does this mean that the loan is not guaranteed ??? and can it still be declined, I have told the all the outgoings and salary etc but just wanting to know if it still can be declined and what the chances are? Had to wait a full week for the paperwork so dont really want to apply for anymore until I get an outcome from this loan. Also do you know how long they will take to make a final decision once they have received the correct documents?

Thanks

BigCraigJohn

Probably just for id, dont take my word for it though.

OCDOCD

As long as it all reflects what you put in the application then there won't be a prob, lenders are just taking greater precautions nowadays, nothing to worry about.

hoggani1

Thanks for the replies, the only reason why Im asking is that my credit score is diabolical, Equifax is at very bad (in the red) and just waiting for the one from experian

dubsey

My husband deals with sending off this kind of paperwork on behalf of customers (hopefully not for long!). He said they ask for bank statements for a number of reasons-to check I.D, to check that things you have told them on the application are true (amount of salary paid in for example). Being overdrawn isn't a problem but showing any unpaid direct debits can be, so try not to send them a bank statement with any showing.