Sainsburys loan application

sistafromanothermista

zaynab wrote: »

I will be applying for 7500-15000 loan on 5.5 APR soon but dont have a landline will they reject my application due to that. Also i will not be able to provide 3 yr address only 2 yrs. I dont have any credit card or loan this is the first i am applying for and in full time employment earning 28000 annually.

Why?


If you have no credit history then i doubt you'll be accepted....

zaynab

moved to UK in 2010 from abroad. I do pay monthly phone bill which i have never missed

sistafromanothermista

Well you have to be in the UK for longer than that i would imagine.


'You must have been a UK resident for 3 years or longer'


This was from Natwest for example...

somethingcorporate

You'll struggle to get £15k on only £28k salary even if you were squeaky clean with a long history of repaying your debt. Short time in the UK and only paying a mobile phone is no guarantee you can manage such a huge debt.

bluenoze22

Hi all,

I too have just applied for a Sainsburys loan and have gotten the 72hrs message!

I have been trying to improve my credit rating over the past 5 years and now finally have 'Good' credit rating...

My pain is that i currently spend over £800pm on 22K worth of debt across multiple cards and a loan (which my folks took out for me over 5yrs back). Interest on my main card is painful to read at over £100pm!

I want to take the loan back off my parents and clear my cards in to one loan. My salary is just over £50K and hope to god i can get this loan!

Think i will call them tomorrow and see what the score is!

Fingers crossed!

BugsyBrowne

bluenoze22 wrote: »

Hi all,

I too have just applied for a Sainsburys loan and have gotten the 72hrs message!

I have been trying to improve my credit rating over the past 5 years and now finally have 'Good' credit rating...

My pain is that i currently spend over £800pm on 22K worth of debt across multiple cards and a loan (which my folks took out for me over 5yrs back). Interest on my main card is painful to read at over £100pm!

I want to take the loan back off my parents and clear my cards in to one loan. My salary is just over £50K and hope to god i can get this loan!

Think i will call them tomorrow and see what the score is!

Fingers crossed!

How much is your current debts?

bluenoze22

Hi there...

In principle it comes to 22K - But 11K of that is in my dads name...So the other 11K is mine...When applying for the loan for consolidation i have put this 11K down as mine as i don't want it to look random asking for double what i need to pay off!

BugsyBrowne

bluenoze22 wrote: »

Hi there...

In principle it comes to 22K - But 11K of that is in my dads name...So the other 11K is mine...When applying for the loan for consolidation i have put this 11K down as mine as i don't want it to look random asking for double what i need to pay off!

So you've asked for a 22k loan or 11k?

bluenoze22

I've asked for 22K...This will then cover the loan my parents took out for me, and will get rid of my 2 cards...

iaintw

Sainsburys Loans are basic are ids, wages etc
sainsburys bank do often go into checking your credit report. you have to wait 7 days or 10 working days to found out if you are successfull or not