Sainsburys loan

teabird03
teabird03 Posts: 2 Newbie
in Loans
Afternoon everyone,
I have applied for a Sainsburys loan which was hasn't been that smooth sailing due to there old IT system (Saturday night). I received the papers today in the post and sent them on, how long will it be till the money would be moved to my account.
** I wouldn't recommend Sainsburys loan only when I read the loan agreement they have increased my APR compared to what I was offered on my application**

Comments

  • DCFC79
    DCFC79 Posts: 40,598 Forumite
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    teabird03 wrote: »
    Afternoon everyone,
    I have applied for a Sainsburys loan which was hasn't been that smooth sailing due to there old IT system (Saturday night). I received the papers today in the post and sent them on, how long will it be till the money would be moved to my account.
    ** I wouldn't recommend Sainsburys loan only when I read the loan agreement they have increased my APR compared to what I was offered on my application**

    Well im afraid to say lenders can increase the rate to offer you since it is the lenders money.

    What eate did you think it woild be ?

    How much have you been offered ?
  • Pixie5740
    Pixie5740 Posts: 14,515 Forumite
    Name Dropper First Post Photogenic First Anniversary
    teabird03 wrote: »
    Afternoon everyone,
    I have applied for a Sainsburys loan which was hasn't been that smooth sailing due to there old IT system (Saturday night). I received the papers today in the post and sent them on, how long will it be till the money would be moved to my account.
    ** I wouldn't recommend Sainsburys loan only when I read the loan agreement they have increased my APR compared to what I was offered on my application**

    Offered on your application? Are you referring to the representitive APR? If so Sainsburys are no different to any other lender. 51% of successful appliances are offered the representative APR, the other 49% are offered a higher rate, and everyone else gets the bum's rush.
  • teabird03
    teabird03 Posts: 2 Newbie
    It was not a horrendous increase from 3.0 to 3.5% was more concerned about when it will be paid.
  • DCFC79
    DCFC79 Posts: 40,598 Forumite
    Name Dropper First Anniversary First Post
    edited 14 February 2018 at 8:50AM
    teabird03 wrote: »
    It was not a horrendous increase from 3.0 to 3.5% was more concerned about when it will be paid.

    It will be in your account when it is, get on with your day.

    You did say you wouldn't recommend Sainsbury's for a loan, had 4 apostrophes so I assumed it was important.
  • ViolaLass
    ViolaLass Posts: 5,764 Forumite
    DCFC79 wrote: »
    It will be in your account when it is, get on with your day.

    You did say you wouldn't recommend Sainsbury's for a loan, had 4 apostrophes so I assumed it was important.

    Asterisks.
  • PeacefulWaters
    PeacefulWaters Posts: 8,495 Forumite
    teabird03 wrote: »
    It was not a horrendous increase from 3.0 to 3.5% was more concerned about when it will be paid.

    Calm down dear.
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