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Thread: Can anyone please explain 'Further Checks'?

  1. #1

    Can anyone please explain 'Further Checks'?


    This morning I applied for a 50k unsecured personal loan with NatWest over the telephone. The 1st part of the process was an affordability check and soft credit check. The guy on the phone went through this with me and said I'd passed both of these and was I now happy to go ahead with the full application which involved a hard credit search. I confirmed I was happy to proceed. He asked me a few more questions, processed this and then told me I was approved in principle subject to further checks. I asked what these further checks were and he didn't really know though he did say I would receive and email with a link to sign my documents online. I received the link and signed the documents and then got a message that I'd hear from them in 2-4 business days following further checks. My question is does anyone know what these further checks typically are? They have already completed a hard credit check and have not asked for any supporting documentation (I bank only with NatWest so they see how much I get paid monthly) so what exactly will they be checking?

  2. #2
    Could be anything. ID checks, further CRA checks, employer checks, manual assesment, random audit...

    No point in trying to guess or worry about it.

  3. #3
    They have to do the checks, your asking for alot so just be patient.

  4. #4
    It will be referred to an underwriter. Hardly surprising considering the amount and the fact that it is unsecured. NatWest are taking a big risk.

  5. #5
    50k? Quite right that they should check whatever they want to check!

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