WARNING: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk

FAQ

Q. What is an installment loan?

A. An installment loan is a loan taken out for 3, 6, 9, or 12 months for up to £2,000. installment loans are meant to be a convenient solution to one of life’s most pressing problems.

Q. What can an installment loan be used for?

A. An installment loan should really be taken out only when it is truly necessary, such as in a financial emergency. They are not meant to be solutions for long-term debt. Please take out installment loans responsibly and not as a source for additional income.

Q. How do Loanfactory.co.uk’s loan matching services work?

A. Loanfactory.co.uk is not a lender and does not make credit decisions. Instead, it connects qualified applicants to our network of third party lenders. Upon submitting your registration form, Loanfactory.co.uk connects you with interested lenders. Each lender has different repayment terms such as APRs, fees, renewal policies, etc., and each lender makes approval decisions separately. If you have any questions about your loan offer or the repayment terms, please contact your lender directly.

Q. How do I qualify for an installment loan?

A. Individual lenders determine their own requirements for approval. Such requirements may be: applicant must be 18 years of age or older, a resident of the United Kingdom, have a valid checking or savings account, and a regular source of income. Some lenders have a minimum monthly income required for qualification. Loanfactory.co.uk cannot guarantee approval, lender match, or loan amount.

Q. Is there a fee that Loanfactory.co.uk charges to connect consumers with independent third party lenders?

A. No, our service is free! Because Loanfactory.co.uk is not a lender, there are no fees that are associated with registration or the loan matching process. Loanfactory.co.uk matches you with a lender from our third party network who may be able to grant you an installment loan. If you are approved by a lender, the rates and fees associated with your loan will vary from lender to lender. However, participating in some of our optional supplementary offers may require a fee.

Q. How much could I borrow?

A. Typically installment loans range from between £300 and £2,000. However, not all lenders are prepared to offer up to £2,000. How much you qualify to borrow may depend on many factors including the lender, your income, and employment.

Q. If approved for an installment loan by an independent third party lender, how quickly could it be available?

A. Cash transfer times may vary depending on the lender and your individual financial institution. An independent third party lender may transfer an approved installment loan to your bank account in as early as the next business day but may take 2-3 business days for a loan to be funded.

Q. What information do you need from me to match me with an independent third party lender for an installment?

A. There is certain personal, employment, and banking information that you must provide in order to be matched with prospective independent third party lenders. This information includes but is not limited to name, address, telephone number, email address, bank account information, and employment information. You must provide accurate information. Independent lenders may perform a credit check or otherwise verify your information upon submission of your registration form.

Q. Is the information I provide secure?

A. Loanfactory.co.uk respects your privacy. In order to protect your personal information, a variety of security measures are taken on our end. All sensitive information transmitted between your browser and Loanfactory.co.uk uses 128 bit Secure Socket Layer (SSL) encryption technology. Your use of our services is strictly voluntary and is governed by our Terms & Conditions of Use and Privacy Policy. Your registration form information may be shared with multiple lenders.

Q. Will independent third party lenders perform a credit check?

A. Independent lenders have the option to perform a credit check or otherwise verify your information. Each independent lender makes approval decisions separately. Loanfactory.co.uk does not participate in the credit decision process.

Q. When must I repay my installment loan?

A. Each independent third party lender has their own terms and conditions for installment loans, including those concerning repayment. Only your lender can provide you with information about your specific loan. Traditionally installment loans are paid off in 3, 6, 9, or 12 months after being taken out. You should contact your lender directly with any questions, comments, or concerns.

Q. What if I am unable to repay my installment loan according to its terms?

A. Only your lender can provide you with information about your specific loan terms and the implications of non-payment of your loan. Ask your lender about its policies for non-payment.

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We are a Broker not a Lender. Representative 546.1% APR. Representative example: £200 repaid over 3 monthly instalments of £134.76. Total charge for credit £404.27. Interest £204.27. Interest rate 546.1% (fixed)
LoanFactory.co.uk is a trading style of Maxed Up Media Ltd. Company registered address: Metropolitan House, Station Road, Cheadle Hulme, Cheadle, Cheshire SK8 7AZ. Maxed Up Media is an appointed representative of Serpable Ltd and regulated by the Financial Conduct Authority under reference 848096. (Serpable Ltd is authorised and regulated by the Financial Conduct Authority under reference number 799104)

IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERMS OF THE DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY TAKING OUT A LOAN THAT IS SECURED AGAINST YOUR PROPERTY MAY PUT YOUR HOME AT RISK IF YOU DO NOT MAINTAIN THE REPAYMENTS.

Credit is available to person 18 years and offer. All loans are subject to status. A short-term, payday loan should be used for short-term financial needs only, not as a long-term financial solution. Never borrow an amount that cannot be repaid on your next pay period date. Missing repayments may have a negative effect on your credit rating and make it more difficult for you to obtain credit in the future.

The operator of this website is not a lender or short term loan provider and does not make loan or credit decisions. We are a credit broker, providing loan matching services and help connect consumers interested in obtaining short-term payday loans; installment loans; guarantor loans and secured loans in amounts between £100 and £100,000 with participating lenders or brokers in our network.

We do not charge you any fees to use our websites, services or products. Any commission received by us is paid by participating lenders or brokers if you choose one of their products or for referring you to them.

If you are matched with a participating lender or broker, you may be charged a fee directly by the participating lender or broker. Please be sure to read their terms and conditions before proceeding with any loan arrangement.

Not all lenders within our network can provide up to £100,000 and there is no guarantee that you will be accepted by a participating lender or broker.

We work exclusively with a selected group of lenders and brokers to offer you a range of credit and loan products. We may receive a percentage of the loan amount as a commission from a loan provider or broker if you take out one of their products and/or we may receive a fee for introducing you to them.

You can request details of these commissions or fees, by emailing us. We will then provide you with the precise amount of the commission or fee or, where that amount is not known, the likely amount. Please note that the lender or broker we direct you to may not offer the cheapest loan that is available to meet your needs.