Loan Application Period

  • SD92's Avatar
    Fresh Eyes
    I've applied for a loan after getting a high chance of approval evaluation prior to the actual application. Advertised it stated that there was a chance for the loan to be accepted between anything from 2 hours to 24 hours which was my reason for applying.

    After completing the application process I received a screen stating it will take between 5-10 days, with forms to be sent for me to sign and send back.

    Unfortunately and maybe naively I was hoping for a faster turnaround as this loan was for debt consolidation and I have some urgent payments I need to make.

    My question is should I contact Tesco Bank to cancel the application process prior to them sending anything out as from my understanding it could affect my credit score to apply for another company whilst this process is happening.

    Thanks,
  • 1 Reply

  • Verified Answer

    ChristopherP's Avatar
    Your Community Expert
    Verified Answer
    @SD92 Hey there, thanks for getting in touch. If we need to see supporting evidence/documents for the application then this can lengthen the application process. We perform a full credit search during this process so it would appear in your report.


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