Applied for Sainsburys loan got reffered to underwriter

jvernikos

Hi Everyone,

I would just like some help and advice from peoples experiences. I applied for a loan online through the Sainsburys website. After that I received an email saying to give them a ring today.

I did so and after passing all the checks the lady told me that my application has been referred to their underwriters and that they would have a decision on my loan application within 48-72 hours and that I should give them a ring back on Friday afternoon.

Has anyone had a similar experience and if so what was their result of their applications. Is this actually an indicator I wont get the loan?

Just some further details about me. Have around 2 years 6 months in the UK, a 961 credit rating in experian, no outstanding loans or mortgages 1 Visa credit card and one Amex gold charge card. I pay all my spend in full on my cards on each month end.

Experian_company_representative

This is not unusual and perhaps suggests your overall credit score is very close to their passmark or that there is a specific issue they wish to look closer at. Fingers crossed!

James

opinions4u

Less than three years in the UK probably triggers an automatic referral.

gb12345

Experian_company_representative wrote: »

perhaps suggests your overall credit score is very close to their passmark

That will be the internal "credit score" that the individual lender calculates using all the information available to them, rather than the made up number that the CRAs flog to their gullible customers.

iolanthe07

It is almost certain to be because you have been in the UK for less than three years, which seems to be most lenders' criteria. They may offer you a loan, but at a higher interest rate.

Clive_Woody

gb12345 wrote: »

That will be the internal "credit score" that the individual lender calculates using all the information available to them, rather than the made up number that the CRAs flog to their gullible customers.

I award your post a score of 96. This might mean that you could get a Halifax loan for £5000. There is no charge in this instance for my service.

Further scores will be charged at a flat rate of £25.

bigadaj

Clive_Woody wrote: »

I award your post a score of 96. This might mean that you could get a Halifax loan for £5000. There is no charge in this instance for my service.

Further scores will be charged at a flat rate of £25.

That sounds a bit presumptive, and so I'd propose a poll on the matter.

gb12345

Clive_Woody wrote: »

I award your post a score of 96. This might mean that you could get a Halifax loan for £5000. There is no charge in this instance for my service.

Further scores will be charged at a flat rate of £25.

Will the fact that I'm bankrupt, unemployed and live in a bus shelter have any affect on my score?

DCFC79

bigadaj wrote: »

That sounds a bit presumptive, and so I'd propose a poll on the matter.

Yes a poll would be good.

Clive_Woody

bigadaj wrote: »

That sounds a bit presumptive, and so I'd propose a poll on the matter.

You may award him your own score as you see fit but I refuse to open up my scoring to the public. A lot of thought went into that figure and I will not have it corrupted by popular opinion!!!

For once I am anti-poll (but most definitely not anti Polish before anybody reports me to the moderators....).

I fear I have gone off topic a little bit here. What were we talking about....

Clive_Woody

gb12345 wrote: »

Will the fact that I'm bankrupt, unemployed and live in a bus shelter have any affect on my score?

Do you have access to a gullible guarantor?

I may award extra points on that basis.