loan application: bank ringing for interview

[whataboutbob]

So after saying they'd ring, then not doing so and giving 2 contradictory excuses, Santander is due to ring us next week. We are trying to borrow £30 000 for a loft extension. That's about 60% of our joint yearly income, we are absolutely confident we can make the repayments. We have no mortgage and reasonable expenditure. We don;t even have a car. We have already provided lots of info re income, expenditure etc. They say the interview will last 3 hours (!) and want to talk about our "life plans".

Anyone had one of these telephone interviews. How should I play it?

At the meeting I went to with my bank they went through my regular outgoings and level of savings fairly closely but it didn't take anything like three hours. If you're unlucky they'll try to talk to you about insurance for the loan, for yourselves and other add-ons to the money you're actually borrowing. If you don't want any of those things, have your 'no thanks' ready and cut the conversations short.

Thanks cogito. I hadn't thought they d use it as an opportunity to sell products, silly me! I'll have my polite " no thank you" ready.

Santander only offer unsecured loans up to £20k so it's going to be a mortgage application. Much more complex, and stricter lending regulations, so that's why it's going to be a long appointment.

Thanks rock chick. I am no very savvy re finance but I assumed They will probably want to secure the loan against our flat. If anyone is interested I can post back after tomorrow s interview to let people know how it went and he kind of questions they asked