Monday 4 August 2014

Best Short Term Loans UK: Review 4 of 16: LendingStream.co.uk Pay Day Loans

This post is Part 4 of the 16 Part Mini Series where I review 16 of the best short term loans companies in the United Kingdom. After receiving a high volume of emails enquiring about the best short term loan companies I was inspired to write reviews on the 16 most reputable pay day loan companies in Britain. This review is on Lending Stream which I consider to be the fourth best short term lending company in Britain.

Some important points to bear in mind when taking out a short term loan are the consequences of missing payments. When you miss a payment the term may be automatically rolled for another month where you will be charged additional interest payments and late fees. Missed payments are also reflected in your credit file which will ultimately reduce your credit score. Collection agencies may be involved If you completely fail to pay off your loan. So without further ado here is the 4th review in the series which looks at Lending Stream.

Review 4: Best Short Term Loans UK – LendingStream.co.uk

Lendingstream.co.uk is regulated by the Financial Conduct Authority and has been offering short term loans since the 2008. Lendingstream.co.uk is also part of the BCCA and CCTA and follows their strict codes of practice. Lendingstream.co.uk use advanced analytics to help people get approved for credit.

You can apply for a loan from Lendingstream.co.uk 24 hours per day and 365 days a year. Lendingstream.co.uk use sophisticated analytics software to determine affordability to ensure that the customer has the best chance of repaying the loan. When loans are paid on time customers will be eligible for higher loan amounts.

Lendingstream.co.uk also sends the funds within 4 minutes after the loan has been approved. You can also apply for short term loans on Bank holidays and during the holiday period when the banks are shut. You can also opt for automatic weekly or monthly repayments depending on your salary or wage payment cycle.

Short Term Loan Example from Lendingstream.co.uk

Lendingstream.co.uk has an APR representative of 2,007% where you can borrow anything between £50 and £800 for a maximum term of 6 months. If you were to borrow £100 over 30 days you would need to repay £125 at the end of the term.

The APR representative is 2,007% and is worked out as follows. If you were to borrow £200 over 6 months at a rate of 320.2% Per Annum you would repay a fixed amount of £400 at the end of the term.

Best Short Term Loans in the UK

Lendingstream.co.uk in my opinion is the 4th best payday loan company offering short term loans. Lendingstream.co.uk offers a service which is around the clock and open 365 days per year. The payday loan company is also available during bank holidays. Once you’re approved for the short term loan the money is sent within 4 minutes of approval. 

Another excellent feature of Lendingstream.co.uk is the maximum term which is a whopping 6 months, compared to other pay day loan companies the term is very generous and worth considering when taking out a large loan of £800. Lendingstream.co.uk is an ethical lender and has competitive rates and long repayment periods making it ideal for borrowers who require more time to pay off their loans.

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