Denied BBL as Tide reports active application?


#41

Thanks for that skcollob. Strange about uploading tax return though as not one person i know who has received a bbl has needed to do this. A friend with Natwest applied in the morning, completed the self certification in afternoon and had money next day.
Fingers crossed though as last hope. Cheers again


#42

Tax return is because I bank with nationwide and tide. For new account ie feeder account as a sole trader wanted to prove what money I was asking for coincided with the tax return


#43

Oh ok. Is it different for limited companies? Just want to make sure im prepared haha. Cheers


#44

Yes also delays it as it has to be looked at by a human apparently…
I know some people from the start of bbls. Getting higher amounts than they should of done. Being Ltd company’s and with there own bank. Good luck


#45

Thanks mate. I know a few people who didnt even know about it or need it and took much more than necessary. If im successful within the next month i should be fine, good luck to you too


#46

Thank you for raising this query with us @Jtreacher and @Oscarsadie1. To follow on from my colleague Obi’s point: the BBB requested that Tide, along with all other BBL lenders, provide the BBB with information on the application status of, any member who (a) joined the BBL loan waiting list, (b) was approved for a BBL or © received a BBL from Tide. The BBB allowed all lenders to cross-check their BBL applicants against this database. This was done on an anonymised basis, i.e. a BBL lender was able to check whether a specific BBL applicant was waitlisted, applied for, was approved for or received a BBL from another lender, but was not told which other lender this was.

This system is for the purpose of preventing duplicate BBL and fraud. It was then up to each prospective BBL lender to decide whether to accept or reject an applicant based on their ‘waitlisted’ status with another BBL lender. We understand from feedback we have received from members there is at least one BBL lender who has chosen to reject applications from members who were waitlisted by Tide.

We’ve spoken with the BBB and the status of any Tide ‘waitlisted’; or eligible member who did not activate their BBL is now showing as ‘not progressing’; (as of Monday 13th July) which should make clear to other lenders that such members will not receive a Tide BBL loan as part of this cycle. If a prospective lender needs further confirmation that you have not received a BBL loan from Tide, please reach out in app and we’ll gladly provide this.

Our privacy policy (which was shared with each member as part of their account opening and, again, when registering for the waiting list) sets out how Tide uses members’ personal data and provides that Tide will, where necessary, disclose certain information to e.g. legal or other official bodies, as well as fraud prevention agencies and third-party companies to help prevent, detect and prosecute unlawful acts, money laundering or fraudulent behaviour. The disclosures to the BBB fall within the uses set out in our privacy policy. .

@ScottTaxi @Marc1 @jadexco @sami22 we want to reassure you that Tide did not run any credit checks on waitlisted members or those who took out a BBL. Please see above for information about disclosures we were required to make to the BBB, which explains why other BBLS lenders were aware of companies’ BBL application status.

@Cam, ‘the date you entered into these terms’ refers to the date you ‘activate’ your Tide BBL through the app (i.e. the date you accept the BBL T&Cs). However, please see our response to @ScottTaxi above - we did not conduct credit checks on any members who were waitlisted for or received a Tide BBL.


#47

There is a difference between an EU body slowly taking action and a large number of local people calling MPs.

I would say again unless Tide specifies clearly that they will not apply any of their own conditions it may be better to lobby Gov to distribute BBLs via a government org. The scheme approved by EU commission allows that.

More on Tide

Tide has declined 29% of the applications when it was issuing the loans.


#48

That’s old news though


#49

The Eu arnt going to take action @sami22 we’ve as good as already left the Eu mate & no one seemingly seems to care about us.

That article for me really just highlights the difficulties Tide have faced securing funds & the fact so many people have been trying it on.

Lloyd’s clawed back a large % if initial loans taken out due to people trying to backdoor through Halifax, similarly there will be plenty of Ltd’s that have never been used and no intentions of being used on the same tip.

Read @Ali-C_at_Tide s post above, they’ve never credit checked and are sticking to the terms of the bbb.

My credit rating went up 124 points since last month, I’ve Absolutely no idea why, all I’ve done is open bank accounts lol