Loan advice required, HELP

stephenscottlee

I have just been confirmed for a loan through YES LOANS, the details came through today in the post. I applied to borrow £6,000 but I was offered a loan of £3,000 with a lender called FLM. The APR is a massive 53.0% and this will work out that I am paying almost double back in the end.

Can anyone recommend a lender/loan company who I could apply to as another option as 53% APR is to high. My credit rating isn't good because I'm not on the electoral roll and don't have any other loans/credit cards but I am in full time employment and have no CCJ's.

Many thanks

Steve

iolanthe07

Read all the posts here about Yes Loans, and please don't tell us that you paid an upfront fee! Any reason why you are not on the Register of Electors? This will help you to get a loan at a decent rate with a reputable company.

BigDave81

All the 'loan brokers' who charge you an upfront fee will never get you the loan amount you want at a decent APR. They just want the £50 fee paid and are happy to go on their merry way.

If you complain to them and request a refund as they did not obtain the loan you required as was agreed they will refund you all but around £5 which will at least get you some wasted money back.

Can you go to a credit union? Have you tried your own bank?

Do you really 'need' £6000 loan or merely 'want' it?

sneakerchick

DO use your brain and go local bank of your area they will give you best option because online sites are not true.....

R0bert_Sterling

Big_Ginger_Cat wrote: »

if you are unable to make a payment they will take from your card without you knowing

If you think there is any possibility that you cannot make the payments, for goodness sake don't be so stupid as to take out a loan!!

Why do so many people only see the pound signs of the loan without any thought about repaying?????

The Sub Prime lenders have a high apr because they KNOW the fool signing up to the loan is not going to repay it!!

If the applicant were an honest, sensible borrower, the banks would have offered a loan at a sensible rate.