Our Charges

Is there any charge to apply for a loan?

We do not charge any administration fees to set up the loan.

What is your charge for borrowing money?

The typical charge is  charge for credit is 25 pence for every 100 pence borrowed. If you borrow £100.00, you would simply repay £125.00. However this may vary or even be lesss depending on the term of the loan. You shall be informed of the exact amount befor completing and you agreeing to the loan.

Why is your APR so high?

APR’s are calculated based on paying a fixed amount of interest in a 12 month period. Loans taken from us are for a maximum period of 31 days.

We show the interest payable using the APR principle (Annual Percentage Rate) despite our loans being offered for a maximum term of 31 days. Therefore the typical Representative APR rate of 1737% APR rate does look very high when compared to other loan rates on the high street.

1737%APR Representative: Representative Loan Example: Borrow £300 for 30 days, Amount payable - £375, Interest - £75, Interest rate (pa) - 1737% (variable)

To draw a comparison, a short term loan is similar to treating yourself to go and watch your favourite music band/group perform. A single concert ticket could cost £100 for a gig lasting 90 minutes. However, to annualise this, your ticket would cost £584,000 or 5840% APR!