Sainsburys Loan

laingn

Hi All,

Looking for some advice. I applied for a loan with Sainsburys and have been agreed in principle but not at the advertised 3.2 rate. It stated it has been referred for a couple of checks and on some occasions the decision is overturned.

Has anyone had this previously? What are the chances my application will be rejected?

thanks in advance

[Deleted User]

We can't tell you. It depends on what they are checking and whether they are happy with the results of the check.

laingn

Thanks, I've never had a loan agreed in principle before so was just unsure. Will wait for the paper work to come through.

foxy-stoat

Yes, just wait and report back, you will probably get offered a higher rate.

downhillfast

When I applied for a Sainsbury's loan 3 years ago it got referred. After not hearing anything from them after a couple of days I looked on the internet and saw that this was quite normal and just to give them a call (I can't remember where I read this - but likely to have been on here I guess!). They told me on the phone there and then that it was accepted and what the rate was - not the headline rate but at the time I wasn't expecting it due to not having much of a credit history for 6 years.

Give them a call tomorrow!