Subject (of course) providing you have an outstanding credit rating
gallacherp
28 Dec 161#3
yay i can finally put down 5% on that inner city bedsit
Arjun7
28 Dec 161#4
****upto****I dont think anyone gets this rate.Correct me if anyone does get it :smiley:
samspud to Arjun7
28 Dec 16#5
According to uswitch and thisismoney.co.uk a company has to offer the headline rate to 50% of applicants. So a lot! I got their last headline rate
Marekj to Arjun7
28 Dec 161#6
Most customers have to be offered this rate for them to advertise as a typical APR.
dush_yant
28 Dec 161#7
51% of customers have to be offered this rate for them to advertise as a typical APR
thecinfin8
28 Dec 16#8
So more people will be declined for the loan based on them having to give over 50% this rate. Is that how it works?
Marekj to thecinfin8
28 Dec 16#10
They won't necessarily decline you, but you may not get the headline representative rate. Most customers (at least 51%) will get this, but they may offer you a higher rate. Depends on your credit profile and the type of customers they want to on-board at any given time (not necessarily those with a spotless credit history).
grahamwill39
28 Dec 16#9
Regardless who gets declined ....half of those accepted will get the headline rate. ....they will only turn down a higher than average credit risk..
samspud
28 Dec 16#11
50% of ACCEPTED applications are guaranteed to get the headline rate
Opening post
Sainsbury's are offering 2.8% on loans of between £7500 and £20000.
Max 3 year term and must have a Nectar Card (though these are free to get)
2.9% up to 5 year term
Due to new(ish) FSA and ASA rules companies have to offer the rate to 50% of applicants - so a very good chance of getting it!
Link -
https://www.sainsburysbank.co.uk/borrowing/micro/med-std-60?SID=717MS&cid=AGG_ALL_091501
All comments (46)