Yes loans? Accept/decline?

katiejones1

Hiya...just been offered a loan from yes.....anyone got any information on them and whether I should accept? I have bad credit so thats why I may choose them. Please help!! Thanks.

Astaroth

I believe that yes charge you a fee to say that they will try and find you a loan - they dont actually do the loans themselves - so whilst they may have accepted you and charge you that doesnt mean any of their lenders will actually accept you and the fee paid is unrefundable - do a search on the forums and you should get a few cases (and confirm that Yes is one of these types of brokers)

MortgageMamma

Hi Katie

Astaroth is correct in that yes loans are brokers and all they do is forward your details to about 30 companies and charge you a fee for it. You will also get phone calls for about 12 months after with someone trying to sell you a loan, and no matter how many times you tell them no, they will still persist phoning. I know this, because my husband who had credit problems approached them for a loan in November 2005 - yes loans promised to have it sorted within 14 days, he kept ringing and checking and was then told it was 14 days for yes loans to their bit and once it was in the hands of a potential lender it was down to them to complete the transaction. By January he still didnt have his loan despite signing all the forms. I would avoid yes loans of possible.

Now I think captial one will do loans for adverse credit, as will welcome finance (APR about 45.5%), but you should really approach a loans broker to see what they can get you. I know of one who is independent if you would like further help.

MM

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