M&S loan gone to underwriters update

Jolouis

I asked the other day what happens when a loan application goes to the underwriters thank you for the advice from everyone.

Here's an update got the loan at 10.4 APR which I'm happy with £7000 over 6 years now going to pay 2 loans off l had as they were over 7 years and interest on one was 25.5 and the other 34.9 so going to be saving on interest and save £90 a month. So im happy to be sorted :T

Jolouis

I had only paid a year off the 2 loans so it's over the same term left 6 years.

foxy-stoat

Have a word with your past self, taking out loans with those interest rates over 7 years.

Geeze.

Jolouis

I have l will only have this one loan and getting no more going to do over payments and I've got no credit cards.

chanz4

Tesco is around 3%

DCFC79

Just make sure you dont let the debt up again.

[Deleted User]

chanz4 wrote: »

Tesco is around 3%

2.9% if you are one of the 51% of successful applicants borrowing between £7,500 and £15,000 over 1 to 5 years. M&S also offer a representative APR of 2.9% for certain loan amounts and terms. Since the OP is borrowing £7,000 over 6 years neither of those rates would have been available to the OP.

10.9% is definitely a lot better than the rates on the existing loans.