Nat West Loans and Overdrafts

[nick0]

I did a pre application for a Natwest loan (my son for a car,see my other threads) and it came up with APR 20.9%
so I left it at that and said we can look at it in November.

Now when I Log on to My banking it says you eligible for a loan with a 9/10 chance when I click on more info.

I also have a "take out our Overdraft (even if you don't need it) you are Likely to be accepted for £3600'' message
on my account and when I log out it reminds me.

Now my point is are they fishing for new applications or have they viewed my account and said this guy can have
these options. I have had the account for about 12 months and put about £1000 through it a month as it's not my main
account, ive never gone near 0 balance.

Since doing the pre application ive made no other ones or have any changes on my credit files.

Anybody had any results on these messages?.

Nick

[Pixie]

Re: Nat West Loans and Overdrafts

I've no idea nick0 as I'm not in a position to receive messages like that! Do you want the loan or overdraft?

[Never-In-Doubt]

Re: Nat West Loans and Overdrafts

I get similar - internal offers based on monthly feeds from CRA.

My Natwest OD costs £6pm so if they offered a guaranteed OD then apply and it's there as back up. Their system is weird in that when you do the application, at the end it actually says we can offer £X overdraft. Click to accept blah blah blah

* once approved its not instant. It appears within 24hrs.

it wont hurt your credit file as no search is done. It's based on monthly feed data with CRA's.

The loan, I have no idea. Guessing it could be offered based on feed but maybe a new CRA search will occur on submission. The OD doesn't ever search CRA's - it's 100% based on internal account conduct / incomings / monthly sharing feed with CRA's. What Apr is loan? If 20% that suggests a no as it's quite high. Something around their advertised rates is usually a sign of acceptance.

Can you screen print the loan one - that'll help. If it says guaranteed then it won't be CRA searched at all.

[nick0]

Re: Nat West Loans and Overdrafts

Hi NIDDY,
Ive just done the O/D and it says it will be available within 48hrs. I will then have a look at the loan
option and print screen and drop you an email.

Cheers

Nick

[nick0]

Re: Nat West Loans and Overdrafts

My mate did a online application for a 7.5k loan with TSB (3 months ago) and was told 29.9% (SHOCKED),
I told him that it would prob be a refusal BUT to call TSB and ask, it was referred whilst he was on hold and they
asked him a few account payee questions and approved it. Now at 29.9% it is very high BUT as I said if he pays
it for 12 months then he get a lower APR with either the same bank or another based on his payment record.

Nick

[Never-In-Doubt]

Re: Nat West Loans and Overdrafts

Hi NIDDY,
Ive just done the O/D and it says it will be available within 48hrs. I will then have a look at the loan
option and print screen and drop you an email.

Cheers

Nick

Nice one. Did it offer the whole £3400 or whatever then? If so result. That's pretty good

Should show as available already on your accounts. It's an overnight process

[Never-In-Doubt]

Re: Nat West Loans and Overdrafts

My mate did a online application for a 7.5k loan with TSB (3 months ago) and was told 29.9% (SHOCKED),
I told him that it would prob be a refusal BUT to call TSB and ask, it was referred whilst he was on hold and they
asked him a few account payee questions and approved it. Now at 29.9% it is very high BUT as I said if he pays
it for 12 months then he get a lower APR with either the same bank or another based on his payment record.

Nick

Thats nuts. Usually with TSB if it's higher than 20% it's a decline. But as you say if he's got a chance then he's in good stead for future borrowings