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In theory: You can ring natwest and arrange your loan over the telephone for almost any reason, amount and repayment time (ie over 12 mnths, 24, 36, 48etc~) with a decision in minutes and then the money will be in your account within 48 hours of their final decision. In theory.....
What actually happens.....
We saw this advert and thought it would be great to pay off car and credit cards etc and we also bank with them so we gave them a ring.
Things got off to a good start and we got straight through to an advisor (after not too many press one and press two's!!!) who asked us all of the usual questions, personal details, what we did for a living how much we wanted to borrow and why etc. This took quite some time (and wasn't helped by the fact that she kept bursting into fits of giggles!!). Then we got the good news, our loan was agreed in principle and we should receive a letter in the next day or two for us to sign and send back. We were assured that once they receive the letter from us with our signatures on the money would more or less go in the same day or at the latest the day after.
One day passed, then two, then three and before we knew it, seven days had passed and still no letter!! Obviously concerned, I gave Natwest a call to ask if they knew what had happened but they couldnt find a reason as to why we had not received the letter. So I had to go through the whole thing again!! Why did I want the money, how much did I want, my personal details etc. This took some time and was quite annoying as I had already given all this information the previous week. Although I must say that the gentleman I spoke to this time was very professional and polite. Again I was told that it was agreed in principle and that I would receive a letter to sign and send back within the next two working days.
Day nine I received two letters from Natwest, one saying they are please to note that the loan had been agreed and asking us to send the letter back to them with our signatures on and another saying that unfortunately it had been declined!! The letter i received saying that the loan had been agreed also had a few discrepancies on it (including wrong loan amount (500 pound more than agreed),a different reason for the loan had been entered, a different repayment term (a year less than we'd aggreed) and a different apr % than had been agreed). Again I had to ring Natwest and again had to do the whole thing again. Why did i want the loan, How much did i want to borrow, What is our income ahhhhhhh!!!!!!!!!!!!!!! the term "pulling my hair out" didnt come close!!!!! And again i was told to wait for another letter that would come in the next couple of days for us to sign and send back.
It's the first time that the term "third time lucky" has applied to me as this time I received the letter within two days and then the money we requested was in the bank within the next two days. AT LAST.
So - to cut a long story short - Would i recommend a natwest loan?
Well hopefully we were a one off exception and not everyone that requests a loan from natwest goes through the same thing. But i would definately say that if your in a hurry for the money i would definately think twice about using natwest. Other than that i must say that apart from the first girl i spoke to - everyone was very friendly and customer service was excellent.
Of course who you use is your choice in the end - but i hope that reading our experience and opinion has helped somewhat.....
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