Loan Agreed...is this definite?

jimbob.town.pants

Hi,
I have just applied for a loan with natwest, i did it over the phone and was then told it was agreed, i have been sent all of the paperwork and just had to send back a blue copy with a signature on and date it...the letter i recieved with all this explained that the loan was agreed as long as my paperwork was in order.. ive now sent it off 2 days ago...so far nothing... but hearing from other reports,l dont know wether it applies to me but does this letter saying its agreed actually mean it has definitly been accepted? thanks J

standupguy

It sounds like it is accepted subject to them getting back the signed copy and any other items asked for?

For ezxample, did they ask for any proofs of ID or address etc - if they did and you have sent these then the acceptance will be subject to these being ok and suitable for their purposes

jimbob.town.pants

They just asked for the blue copy back.... and yes they did ask for all my details, before they sent the form out...so i guess just fingers crossed now....thanks standupguy

chambta

Loans processed this way tend to take a little longer. Rest assured if you'd took the credit agreement into your branch you'd have had the money that day.

Kavanne

chambta wrote: »

Loans processed this way tend to take a little longer. Rest assured if you'd took the credit agreement into your branch you'd have had the money that day.

Incorrect.

Sounds like the OP's loan was 'Agreed in Principle' (passed 1st stage credit scoring), which means that once the OP returns the paperwork the 2nd stage credit scoring will happen and then they will receive written confirmation of whether they can have the loan or not.

IF the OP could have gone into the branch and had the loan money deposited same day without any further checks, they would have been told this at the end of the call.

PS It is Saturday so you are unlikely to receive anything til Mon now at the earliest. You could call the service line no. you were given and quote your loan reference and see if they can give you any updates.