Before you apply

Your loan application

If you have any questions about your online loan application, check the frequently asked questions below to see if we can help. Just click the question and the answer will appear underneath.

Once you’ve applied for a personal loan online, there are four possible outcomes:

  1. Your application is instantly approved
    We'll send you an email to confirm that we've successfully received your completed application and that you've been approved for the loan. We'll send you another email to let you know when we'll issue the loan funds into your nominated account.

  2. Your application is approved, but we need some additional information
    We’ll send you an email to confirm that you’ve been approved for your loan and also to let you know which additional information we need you to supply. Once we have this information, we’ll send you another email to let you know when we'll issue the loan funds into your nominated account.

  3. We need to review your application before we can make a decision
    We’ll send you an email to confirm that we’ve successfully received your submitted application and that we'll need to review it in more detail. We’ll then contact you again by email within 2 working days to give you our decision following our review.

  4. Unfortunately, we're unable to offer you a loan at this time
    We’ll send you an email to confirm that we’re unable to offer you the loan you’ve applied for at this time.

Read more about why your loan might have been declined.

Not received any emails from us yet?

Please check your spam or junk email folder, as some email providers can automatically filter these messages out before you've had chance to read them.

If you have any questions regarding your loan following your application, or haven't heard from us within 2 working days after applying, please call us on 0800 545 30 00 (Mon to Fri: 8am – 6pm).

Please note: if you have nominated a Nationwide current account for the loan funds to be paid in to, the transfer will take no more than 24 hours. If you have nominated an external account, the transfer of loan funds can take between 3 and 5 working days.

In most cases, if your application is approved, you'll be able to sign up for your loan online (instead of Nationwide sending you a paper agreement to sign and return). By signing for your loan online [electronic contracting] you'll be entering into a legally binding contract. You'll receive a copy of the loan agreement for your records, and this will be sent to you when the loan funds are issued.

In some situations electronic contracting may not be available to loan applicants, and in this instance a paper loan agreement will be sent to you to sign and return. Currently, we're unable to offer electronic contracting for joint applicants.

Once we've verified your application, then the agreement will be made and the loan funds issued to your nominated account. If you asked us to repay any existing loan you have with us, we'll use the new loan to repay it on your behalf and any surplus will be released to your nominated account.

The money will be credited to a Nationwide account on the next working day following the release of loan funds. If funds are sent by Direct Credit to a non Nationwide account, then it will take 3-5 working days for funds to be received in that account.

There could be a number of reasons why you've been declined as each decision is based on your personal circumstances and by reference to a credit reference agency. The four most common reasons for a decline decision are:

  • Account performance - the performance on one or more of your Nationwide accounts currently falls below the standards we would expect from a Personal Loan applicant
  • Information from credit reference agencies - information is shared with us from Credit Reference Agencies that can determine whether you'll be accepted for a loan
  • Your credit score - we use your personal details to calculate a credit score  for you and this determines whether you'll be accepted for a loan
  • Our internal policy rules - unfortunately at this time, you don't currently meet some of our required application criteria

If you have additional information to support your application that you feel may affect our decision, please let us know by calling 0800 545 30 00 (option 5). You'll need to quote your reference number.

Your circumstances can change over any given period and we'll be pleased to consider a new application from you in due course. However, if your circumstances have not changed since your last application it's unlikely that our decision will change. We will not refuse any application just because we have declined a previous one.

If you wish to check your credit reference data, you must contact the Credit Reference Agencies directly - Experian, Equifax and CallCredit

Manage your loan