Sainsburys Loan Requiring Nectar Card?

bigpappa

I am looking at getting a loan for £24k part to buy a new car and part to pay for some house improvements. To repay over 5 years. I am a home owner with about 100k left on my property which is worth about £325k. I don't have any other debt. My income is 65k - my wife is currently off work - just 2 kids.

Looking at MSE it seems that the best rates

Sainsburys 2.9% with Nectar Card and 3.9% without

MBNA 3%

AA 3.1%

So I dont have a nectar card - so will it be first just to sign up for that and then appy straight away or will they simply disregard that and I don't want to apply and get rejected.

I have never applied for a loan before - what else should I need to know?

redux

I don't know, but I notice that Sainsburys credit cards ask that you've had a Nectar card for 6 months, so take a tour through the small print.

Also, is it worth instead considering a remortgage to a slightly larger amount? 

bigpappa

redux said:

I don't know, but I notice that Sainsburys credit cards ask that you've had a Nectar card for 6 months, so take a tour through the small print.

Also, is it worth instead considering a remortgage to a slightly larger amount? 

Thanks will check through the small print.

I am not sure remortgaging will be cheaper after fees are taken into consideration and timescales.

bigpappa

I read Sainsburys t&c for loans and the loan agreement and there is no mention of nectar card.