Loan advice - no income proof

jonesMUFCforever

I would be wary - not of the rate which is very good in the present climate - but the deferred period before you start repaying.
They will be charging interest on the loan as soon as the money is loaned to you so this will put about 4 or 5 extra payments at the end. If you are happy with this great if not get a loan with repayments that start immediately.

regularsaver1

do lloyds not do a deffered period ejones? i thought it was quite usual of banks. we're only taling December here

jonesMUFCforever

regularsaver1 wrote: »

do lloyds not do a deffered period ejones? i thought it was quite usual of banks. we're only taling December here

Of course they do but interest is charged on the loan from day 1.
It will take more than 4 extra payments at the end to repay the interest you accrue in the beginning.

regularsaver1

yep, but as most banks do it , what choice do you have

it might help with the OP change of employment (change of pay dates) initially

Kaks

HI findmyownway,

Can you overpay on the Sainsburys loan offer?

I was unable to see anything on their site which indicated this?