Sainsburys Loan

Trainee89

Has anyone recently had a loan "approved in principle" with Sainsburys? Just completed an application today. Not sure what this means and no timescale given on how long it will take to draw down the loan (if successful).

iolanthe07

It probably means that they have referred your application to their underwriters for further consideration as it may be borderline. You should hear something within a week or so. You may be offered a loan at a higher rate than the headline rate advertised.

Pietrodon

I am just trying to settle a sainsburys loan, which was over 5 years. I have had it for 8 months and they are taking £1200 +- a wee bit in interest, by that i mean in that time ive paid just over 2k and apprx 750 of that went to the capital. This is the reason i finally signed up to mse forums, ive been reading for ages but never joined.

Gaz83

Pietrodon wrote: »

I am just trying to settle a sainsburys loan, which was over 5 years. I have had it for 8 months and they are taking £1200 +- a wee bit in interest, by that i mean in that time ive paid just over 2k and apprx 750 of that went to the capital. This is the reason i finally signed up to mse forums, ive been reading for ages but never joined.

I've replied to your other thread. Sounds like you've signed up for a loan without understanding how they work.