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    • Goldstar28
    • By Goldstar28 11th Aug 18, 4:16 PM
    • 8Posts
    • 2Thanks
    Rejected after pre-approval?
    • #1
    • 11th Aug 18, 4:16 PM
    Rejected after pre-approval? 11th Aug 18 at 4:16 PM
    Has anyone been rejected after being "pre-approved" for a loan?

    It was only a soft search I carried out where I saw the top one I was pre-approved for.
Page 1
    • zx81
    • By zx81 11th Aug 18, 4:24 PM
    • 18,990 Posts
    • 20,229 Thanks
    • #2
    • 11th Aug 18, 4:24 PM
    • #2
    • 11th Aug 18, 4:24 PM
    Yes. They have.

    Just like last time you asked.
    • T-G-C
    • By T-G-C 11th Aug 18, 4:28 PM
    • 394 Posts
    • 189 Thanks
    • #3
    • 11th Aug 18, 4:28 PM
    • #3
    • 11th Aug 18, 4:28 PM
    Here are some, but not all of the potential reasons for refusal after a pre-approval offer:

    - The lender performed a full credit check and the data revealed factors that were against their lending criteria. When a soft check is performed, it is not the same depth as the latter.

    - You failed one or more of the following checks: fraud prevention, identity, money laundering prevention or other cross-referencing conducted; inc. National Hunter and Electoral Register.

    - You passed an initial criteria however after further consideration, one or more factors meant that the credit product applied for was not suitable for you.

    It is unfortunate to be pre-approved and then refused, however it is important to remember not to set your heart on one particular product until you have been 100% approved after a full credit application.
    All advice provided is intended for guidance purposes only. For specialized debt advice, please contact either National Debtline or StepChange.
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