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  • FIRST POST
    • laingn
    • By laingn 10th Oct 16, 4:13 PM
    • 40Posts
    • 38Thanks
    laingn
    Sainsburys Loan
    • #1
    • 10th Oct 16, 4:13 PM
    Sainsburys Loan 10th Oct 16 at 4:13 PM
    Hi All,

    Looking for some advice. I applied for a loan with Sainsburys and have been agreed in principle but not at the advertised 3.2 rate. It stated it has been referred for a couple of checks and on some occasions the decision is overturned.

    Has anyone had this previously? What are the chances my application will be rejected?

    thanks in advance
Page 1
    • zx81
    • By zx81 10th Oct 16, 4:43 PM
    • 9,343 Posts
    • 9,170 Thanks
    zx81
    • #2
    • 10th Oct 16, 4:43 PM
    • #2
    • 10th Oct 16, 4:43 PM
    We can't tell you. It depends on what they are checking and whether they are happy with the results of the check.
    • laingn
    • By laingn 10th Oct 16, 4:44 PM
    • 40 Posts
    • 38 Thanks
    laingn
    • #3
    • 10th Oct 16, 4:44 PM
    • #3
    • 10th Oct 16, 4:44 PM
    Thanks, I've never had a loan agreed in principle before so was just unsure. Will wait for the paper work to come through.
    • foxy-stoat
    • By foxy-stoat 12th Oct 16, 8:21 PM
    • 1,171 Posts
    • 649 Thanks
    foxy-stoat
    • #4
    • 12th Oct 16, 8:21 PM
    • #4
    • 12th Oct 16, 8:21 PM
    Yes, just wait and report back, you will probably get offered a higher rate.
    • downhillfast
    • By downhillfast 13th Oct 16, 12:11 AM
    • 868 Posts
    • 584 Thanks
    downhillfast
    • #5
    • 13th Oct 16, 12:11 AM
    • #5
    • 13th Oct 16, 12:11 AM
    When I applied for a Sainsbury's loan 3 years ago it got referred. After not hearing anything from them after a couple of days I looked on the internet and saw that this was quite normal and just to give them a call (I can't remember where I read this - but likely to have been on here I guess!). They told me on the phone there and then that it was accepted and what the rate was - not the headline rate but at the time I wasn't expecting it due to not having much of a credit history for 6 years.

    Give them a call tomorrow!
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