Last week my wife applied for a loan for a second hand car (necessity for work). She spoke to her bank by phone and they ran through her details/outgoings, then offered her a very good rate of loan which she accepted. They rated her credit when she was applying to see what loan rate they could offer her. We have separate bank accounts.
She has received the loan agreement (not application), direct debit form and paperwork yesterday, but amongst the paperwork is a 'credit check - CPL loan application form' - I'm now worried that her credit check wouldn't have been done and it will now all fall apart because of my debts - I am repaying debts that I incurred and were all in my own name. My wife has an excellent credit record. I can't believe a bank would send out an agreement without conducting a check, but who knows? All I know is the bank had to check something to see what she qualified for during the phone interview, what the rate would be and for how much.
Am I right to be worried that the credit check has not yet been conducted, or is this a retrospective authorisation? Or something to do with the payment protection or authority to release info about how she conducts her account and loan? Thought a credit check could be authorised during the phone interview, like when I apply for insurance.