• Lending appeals and FAQs

    As part of our ongoing commitment to supporting UK businesses, TSB is working with the British Bankers’ Association and a key area of focus is how the industry can improve customer relationships. A new initiative is to give customers the right to appeal if their application for borrowing is declined.

    Any property given as security which may include your home, may be repossessed if you do not keep up repayments on your mortgage or other debts secured on it.

    All lending is subject to a satisfactory credit assessment and we will need your permission to carry out a credit check on you and your business.

    You should not apply for an amount that you cannot comfortably afford to repay now and in the future to avoid the possibility of legal action.

    To avoid the possibility of legal action, you should not apply for an amount that you cannot comfortably afford to repay now and in the future.

  • Making an appeal

  • If your application for lending is declined, and you feel we haven't processed your application correctly, please contact our Relationship Team or your usual point of contact to inform them that you wish to appeal the decline decision. This needs to be done within 30 calendar days of the date of your decline letter.

    We'll write to you to confirm your appeal has been received and what you can expect to happen next.

    Your appeal will be reviewed by a specialist in the lending appeals team. This team is not involved in the original lending application process.

    They will take an impartial and unbiased view of the information you have provided in your initial application and how the decision was reached. It may be necessary to contact you to clarify queries that arise from the review or to ask for additional information.

    The industry standard target is to ensure customers are contacted within 30 calendar days of receipt of the appeal to inform them of the outcome. However, we commit to resolve 90 per cent of appeals within 15 working days. If your appeal is upheld, your Relationship Manager will process your lending application. You will also receive a goodwill payment of £150 in recognition of your successful appeal.

    If your appeal is not upheld, your Relationship Manager will continue to work with you to present a stronger lending application in the future and point you towards relevant support and guidance. 

  • Lending appeals FAQs

  • If your application for lending is declined, you have the right to appeal that decision and have the decision independently reviewed by a specialist in our lending appeals team.

    Any business borrowing facility, for example: loans, overdrafts, commercial mortgages and business credit cards.

    You can appeal following any formally declined lending decision. An application is considered formal when all relevant information that enables a decision to be reached has been provided to us in line with our Finance Application Checklist. Requesting an appeal does not guarantee that a decline decision will be overturned.

    Financing your business

    If your application for lending is declined, your Relationship Manager will discuss this with you and we'll confirm this in writing. You'll have 30 calendar days from the date of that letter to appeal our decision.

    The information you provided at the time of your original application can become out of date. In this situation we recommend you speak to your our Relationship Team about a new application.

    The appeals process has been put in place to support customers who have been declined a lending application. If your lending application has been accepted but you do not like the price or terms of the offer, this needs to be discussed with your Relationship Manager. If you are still unhappy with the way we have dealt with your enquiry, you have the right to pursue a formal complaint. Find out more about our complaints procedures.

    Our complaints procedures

    An appeal is a request to review a declined decision following a formal lending application. It is important that all our customers are confident that if an application for lending is declined, they can have the decision independently reviewed by another experienced lender within TSB. Any issues that are outside of the appeals process should be taken forward as a complaint through the formal complaints process. Find out more about our complaints procedures.

    Our complaints procedures

    If the reason for the decline is specifically due to an adverse credit history such as County Court Judgements (CCJ's) or payment defaults, then your application can be appealed. However, you may need to obtain a full copy of your credit file from a Credit Reference Agency, and be able to prove that an error has occurred or that the circumstances of the adverse information were exceptional. Credit Reference Agencies hold information that helps lenders establish individuals' credit record. You are legally entitled to see all the information held about you by any Credit Reference Agency by writing to them at Experian Limited, Customer Liaison Centre, PO Box 1135, Warrington WA55 1EP. Details of fees can be found on www.experian.co.uk or by calling 0844 481 8000.

    If your circumstances have changed significantly since the time of the original application and you would like to re-apply, we would be happy to consider a new application.

    You can appeal if you feel that we have not taken into account all of your circumstances or that, following a discussion with your Relationship Manager, your application should have been approved. However, it may be necessary to contact you to clarify any queries that may arise from the review or to ask for additional information. If your circumstances have changed significantly since the time of the original application and you would like to re-apply on that basis, we would be happy to consider a new application.

    We would not automatically review lending decisions. Our Relationship Managers often work with credit specialists, to ensure they have correctly assessed applications. More complex lending requests are often reviewed by more than one credit specialist to ensure that your application has been fully considered.

    An appeal can only be made after a decline decision following a formal application. Our Relationship Managers are highly skilled in assessing whether we have the right financial products to help you. They can work with you to present a stronger lending proposition in the future and if necessary, talk to you about alternative sources of finance and other support.

    We'll send you a letter confirming we've received your appeal. The target agreed by the industry is to ensure customers' appeals are reviewed and that they are informed of the outcome within 30 calendar days of the date of this letter. However, we commit to resolve 90 per cent of appeals within 15 working days.

    We will write to inform you of the outcome of the appeal and if you are happy for us to proceed, your Relationship Manager will continue to process your application.

    We will respond in writing confirming the outcome of the appeal. If your circumstances have changed significantly since the time of the original application and you would like to re-apply, we would be happy to consider a new application.

    If this is not the case, we will be happy to talk to you about how we can work together to present a stronger lending proposition in the future. We're dedicated to helping UK businesses thrive throughout the economic cycle, so we want to make sure we give you the support you need to make your business stronger.

    TSB adheres fully to the standards set out by the British Bankers' Association (BBA) . We want to ensure our customers have the confidence and peace of mind that our decisions are fair and correct so we are monitored by an Independent External Reviewer.

    The role of the Independent External Reviewer is to provide an independent assessment of the appeals process. The Reviewer is not in a position to review individual lending decisions or accept appeals directly from customers in the event of a complaint. Their role is to ensure banks have the correct processes to handle appeals fairly and effectively themselves. They will publish an annual report detailing how banks are performing.

    The role of the LSB is to monitor and enforce the Lending Code and to ensure participating banks provide a fair deal to their Personal and Micro-Enterprise* customers. Recent amendments have been made to the Lending Code to include the appeals process and the LSB will be reviewing the Independent Reviewer's report and recommendations carefully.

  • * A Micro-Enterprise is defined as a business that employs fewer than 10 persons and has a turnover or annual balance sheet that does not exceed €2million.

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