Sainsburys Loan

[Deleted User]

Around 15-16% would be typical for mainstream lenders as an upper maximum.

mrspatts82

That's not too bad.

mrspatts82

Well I got the paperwork through and as you said the Apr had gone up a little. I have signed it and posted it last night so hopefully they will get it today.

It says on the paperwork that they need to do final checks and if that is all ok the money will be transferred to my bank. Does anyone know what these final checks are? I would have thought they would have done all the checks that they need before offering me the loan?

[Deleted User]

It's just a catch all phrase.

A final ID check, a quick peek at CIFAS or a final search to make sure you have taken out a dozen payday loans since the weekend.

mrspatts82

Ah right - well haven't done anything since I applied for this one on Sunday so fingers crossed.

Silly question and I know I'm going to sound dumb but what is CIFAS?

[Deleted User]

CIFAS is the financial equivalent of Santa's naughty list.

It's where all the bad boys and girls who have committed fraud (or have been the victim of fraud) get put.

But again, unless you've been been committing fraud since the weekend, you'll be fine.

mrspatts82

haha - santa's naughty list! how long do you reckon I should wait and chase them if I haven't heard anything?

[Deleted User]

Sainsbury's aren't the quickest in the world, so I'd chase on Monday if you haven't heard.

mrspatts82

will do - I'm assuming that they would email me either way.

mrspatts82

Have heard nothing over the weekend so will give them a call today...