Wentworth Direct Finance (Broker's)

Moncs_2 · 6 May 2005 at 9:40PM

A friend of mine is currently trying to get a loan of £4000. He has applied to a couple of lenders for this however due to his business going bankrupt (he was discharged in Nov 2000) he has been rejected due to his credit history.

Today he received a letter from a company called Wentworth Direct Finance, who claim to be broker's and have a Finance company who have approved his application, they have all his correct details, however he has never applied to them, I can only assume that one of the companies he has applied to has passed on his details.

On their letter it quote’s 'Once we receive your loan approval form, the lenders will contact you directly' which sounds all good and well, however they are asking for a £48 fee for doing this.

Has anyone heard of this Wentworth Direct Finance, and is this common practice?

Your advice would be grateful

Xbigman · 7 May 2005 at 1:37PM

This company has been mentioned before and I think the word 'avoid' was used.

In this case I think you pay £48 and they pass you on but you still need to pass the lenders own criteria or its a ridiculous interest rate.
Save your money.
Regards

X

cuggie · 12 May 2005 at 12:12PM

Avoid like the plague,
I got the same letter last year, sent off my cheque, and all I got was more hassles.
They pass your details on to another 'broker' who then sends out your details to all the high interest rate lenders, e.g. citi finance, you then have to take time off work, go to their offices, wait for about 3 hours, only to be told you can have a loan but they will not 'give' you the money, they will contact all the lenders etc. directly, !The interest rates were about 40%, totally stupid,
I finally got my money back, less £5 administration fee, after complaining and writing several letters, i told them that the letter was misleading, as they only done what i could have done, applied to any old dodgy company, I had so many calls at work from loan companies saying i must call back an 0906 number etc. to get my agreed loan, they could only have got my work number from wentworth,
sorry to go on but please don't waste your time or money, just bin the letter,
hope this helps

alidai · 12 May 2005 at 1:21PM

i second that opinion.

Jan 2004 i was applying for loans from a few people, they sent me a letter and as i was desperate i paid to £48 fee and over the next year i got many calls off companies offering me loans of £1000-£3000 (i told WDF i needed £10000). Then this year i sent them a letter in Jan saying i wanted my money back, they never replied, so i sent them another letter in March saying the "my solicitor has reccomended me to take action against you to recover the fee" and they refunded the charge (less £5).

Glad i got my money back but definitly not worth the hassle

chusselwit · 5 May 2007 at 1:46PM

I'd just like to say that I was recently successful in obtaining a loan from Wentworth Direct Finance.

I applied to them through an online application. I then received a letter to say that my application was successful and a brokers fee of £49 had to be paid. I sent off the fee and then heard from a lender who issued my require loan funds.

I thought that the service was quite good overall. I didn't mind paying the brokers fee as I'd been refused in the past.

bikerqueen · 6 May 2007 at 9:36AM

and I truly believe that happened.

wardlaw · 6 May 2007 at 2:06PM

Moncs

Sorry to hear about your loan senario

The best thing to do is source a mortgage broker who has access to the whole of the UK market place for xeecure and secure loans

Make sure, from the outset that he/she charges no fees, as he/she receive commissions from the loan providers

John

TBeckett100 · 7 May 2007 at 10:46PM

chusselwit wrote: »

I'd just like to say that I was recently successful in obtaining a loan from Wentworth Direct Finance.

I applied to them through an online application. I then received a letter to say that my application was successful and a brokers fee of £49 had to be paid. I sent off the fee and then heard from a lender who issued my require loan funds.

I thought that the service was quite good overall. I didn't mind paying the brokers fee as I'd been refused in the past.

bless, you registered to just make that point. i am sure you'll get your bonus now

custardy · 1 October 2007 at 9:44AM

lol i knew before i even searched but curiosity got the better of me

i got a letter back in august and today recieved a follow up letter.
they kindly lowered the admin fee to £39 for me.
i wont be taking the offer but its an example of yet another company trying to capitalise on the very people who shouldnt be getting high interest loans!

RSP_3 · 21 November 2008 at 5:41PM

I have had hundreds of Spam emails from this company in the last couple of weeks - avoid them totally!

mumallboys · 22 April 2009 at 1:22PM

My husband and I recently applied to these people (we foolishly didn't check here first) as we are applying to the LIFT scheme and needed some money for the fees and (possible) moving costs. What is the best way to get our money back, and have we totally stymied our chances of now getting a loan at all? We need about £3000 in total

Wentworth Direct Finance (Broker's)

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