Sainsburys loans misleading

dld2s

To be fair to OP I read it as he did their application online and they indicated he would get loan at 5.1% but then paperwork came out at 9.1%?

Nationwide did this with me, albeit only .2% of a difference, but I have to say I was a bit annoyed as I had binned offer from another bank that was offering same rate as NW rate that was indicated to me I was getting on online application (I had decided to go with NW as they were my bank)

gb12345

dld2s wrote: »

To be fair to OP I read it as he did their application online and they indicated he would get loan at 5.1% but then paperwork came out at 9.1%?

I think you're being too fair to him - he though that he would get the headline rate of 5.1% due to his "extremely high" credit rating. Unfortunately Sainsburys didn't agree and offered him a rate more becoming his situation.

If he had been an average customer then people might have been a bit more sympathetic with him, but as he makes a big thing of being an industry professional he just comes across as a muppet.

opinions4u

dld2s wrote: »

To be fair to OP I read it as he did their application online and they indicated he would get loan at 5.1% but then paperwork came out at 9.1%?

Within seconds I found " The rate offered will depend on the amount you wish to borrow and your individual circumstances." and an information box that refers to only 51% of accepted applications getting the advertised rate.

dld2s

opinions4u wrote: »

Within seconds I found " The rate offered will depend on the amount you wish to borrow and your individual circumstances." and an information box that refers to only 51% of accepted applications getting the advertised rate.

Yes, I agree, I read that on the Nationwde box also and was offered a rate on the online application that offered at the end of the application, it was only when the paperwork came out it changed.

gb I possibly am being to fair, and yes I think he was being a bit of a A55 the way he put it across, but just saying the way I read the point about the difference in APR, if it's the way the rest of you think it was, then he's being a bigger A55, as he has then just made a fool of himself in a job he professes to do