[Geroid123]

In summary:

Applied for loan based on advertised turnaround of 48 hours since approval.
14/10/2024 - Loan approved in principle with proof of residency reuired
14/10/2024 - Requested information given over the phone and received confirmation (3 times) nothing additional is needed. Yet digital signature not possible
16/10/2024 - REceive agreement and post back with guaranteed tracked next day delivery.
17/10/2024 - Agreement signed for at 9am
18/10/2024 - Got informed the agreement needs to be processed, checked - take 2-3 days. After that another 2 days for payment.

What is supposed to be a 48 hour process (as is the case with almost all other banks) can now take 10 days. Also, Tesco can still not confirm if loan is approved, only offer in principle.

Bought a car paid the deposit, and now I cannot pay dealer and also cannot confirm if infact my loan is approved. Call center super unhelpful and keep repeating same phrase over and over. No channel for me to speak to someone who can actually try and help me. Although Tesco have their timelines in their FAQ's upfront when applying turnaround times are misleading.

Is there anything I can do to at least confirm approval.

[Mark_TB]

@Geroid123 Hi thanks for getting in touch.

I've attached a link below that shows our loan application timescales.

If you would like me to check the status of your loan, please send us a private message and we can check this for you.

Applying for a loan – How long does it take to get a loan? – Tesco Bank

I hope this helps! 🙂

[Geroid123]

HiMark,

Thanks for getting back to me, yes I know now how long it takes, but that was not was advertised when you do the application. My biggest frustration is not knowing the status of the loan 5 days after applying despite all documents submitted.

I did phone the call centre and my loan has been captured into the system, but that really does not tell me anything.

Ref number: 826230561