Our interest rates are subject to status, so we are unable to give an accurate quote before an application is made. Our application form provides customer data to ourselves and network sites.
Our rate for lending on secured loans is 28.2% APR. At the moment we only use security in the form of domain names and websites (Intellectual Property) this is changing soon and we intend to bring other secured options to our customers.
Representative example - secured
Amount borrowed £5,000
60 monthly repayments of: £156.28
Total cost of credit: £4,376.80
Total repayable: £9,376.80
Representative APR: 28.2%
Annual interest rate: 28.2%
For loans that are unsecured and over the amount of £1,000, we offer a Representative Rate of 47.6% APR. There are no upfront admin fees payable and loans can be repaid early at anytime. To find out your settlement figure, please login to your account and select "settlement figure" from the menu at the top. This will give you an accurate itemised summary of your payment schedule.
Representative example - unsecured
Amount borrowed £1,500
12 monthly repayments of: £159.52
Total cost of credit: £914.24
Total repayable: £1,914.24
Representative APR: 47.6%
Annual interest rate: 47.6%
If you are applying for a loan of under £1,000, our network sites may be able to provide these products. For an accurate offer to be made, our network sites perform a credit check to assess the affordability of the applicant.
If you do not want your details to be passed on to third party providers, there is an option click the "no" on the application form. This will prevent your details being given to third parties whom may have made offers to you.
We also have adverts for other lenders placed around this site. These are third party adverts that are supplied by an outside provider that are based on your browsing habits. It would be impossible for us to quote the ARP for these sites. If a visitor does click on one of these adverts, we would ask that the visitor checks the APR being offered by them. Only websites with a Consumer Credit License will be allowed to advertise with us.
So how does it work?
When a customer fills in an application form, we take a look at it and decide if we can lend money directly and if it's not the kind of customer that suits our business model our network sites can take a look and decide if the application matches the criteria for a loan depending on the credit status of the customer. Factors include loans under or over £1000 and the duration of the loan (under or over 12 months).
The customer can then look at the charges and interest rates being offered and decide if they want to proceed or not.
At no point will the customer be given funds without being fully aware of what the interest rate is. Our system is fully transparent and fully upfront about the charges before any loan is accepted.