Sainsburys loan - very quick

TUS

Mind if I ask how much you have loaned at that APR?

swebb

TUS wrote: »

Mind if I ask how much you have loaned at that APR?

It's 13k. I think that rate is offered for loans between 10 and 15k.

AMILLIONDOLLARS

swebb wrote: »

It's 13k. I think that rate is offered for loans between 10 and 15k.

Do you mean 13%? At that rate I'm surprised they are waiting for the return of the papers to give you the money:D

AMD

CreditCruncher

AMILLIONDOLLARS wrote: »

Do you mean 13%? At that rate I'm surprised they are waiting for the return of the papers to give you the money:D

AMD

I think the OP meant 13K @ APR 7.9%.

I believe it is a decent rate of interest in this difficult time of lending!

swebb

All confirmed - had a letter today from Sainsburys to say that all is complete. I guess the money will be in my account in the next couple of days.

swebb

CreditCruncher wrote: »

I think the OP meant 13K @ APR 7.9%.

I believe it is a decent rate of interest in this difficult time of lending!

Correct - 7.9% is the rate I got.

missk_ensington

swebb wrote: »

The paperwork came in the post today. I have signed and returned it in the prepaid envelope. Once Sainsburys receive it the money will be transferred into my account - up to 3 working days. Nothing else needed - no other checks as far as I can see. My first payment will be 3 months after I receive the money i.e. end of June. I can ring and arrange a different date if I have an alternative preference.

Tesco loans didnt decide to ask me for proof if income until after Id signed the papers and returned them. Sainsburys may be different, or it may be that a certain % are checked randomly I dont know, but mine was fully approved, signed and returned before it was declined

muchib

swebb wrote: »

In case this helps anyone...

I completed an on line application earlier this evening. Once I completed I got a window that said a decision had been made (yes that quickly) and to ring a freephone number. When I rang, the lady took me through a couple checks and I was offered the loan at the stated 7.9% apr. In fact I was offered another 5k if I wanted it.

Surprised me how quick and pain free the process was. I was offered a courier service (£49) which I declined. So the papers will come in the post and once I sign and return I'll get the money.

i tried yesterday they couldnt give me cos am not working do you any that can give the unemployed

stephane_2

No main lenders will give you a loan if unemployed.

CHR15

muchib wrote: »

i tried yesterday they couldnt give me cos am not working do you any that can give the unemployed

How are you going to repay it with no income??

You do understand the lender will want some kind of assurance you will repay not only the amount you are asking for, but also a healthy interest as well???

They simply won't lend on a promise.