Yes Loans UK - any reviews

scottiejambo

Hi

We have applied for a loan with Yesloansuk, and would appear to have been accepted. I'm a little unsure about them, as it's all been a bit quick, Has anyone got any good/bad stories about them?

Robert_Sterling_3

Do I know about YES. No.

King_David_2

You don't mention exactly why you've approached them. Personally I'd never heard of them. What you need to watch out for is the APR. You don't want to be paying off a loan that is basically killing you every month.

In response to the first reply - that isn't helpful. I apologise that this individual thinks it a good idea to post rubbish. There are many people on this site who are more than willing to help - I've noticed that having read various posts as I am new to the site.

I don't care about my post count - helping people or pointing them in the right direction is the important thing.

Take note Mr Shilling.

Debt_Free_Chick

There's a company by the name of Yes Loans & Mortgages here

https://www.yes-loans.co.uk

Under "About Us" they state that they arrange loans through "recognised lending institutions" including "major "High Street" banks".

So ... they do not lend money ... they arrange loans. And if these loans are through the normal sources, then they must be making money from it i.e. they are not a charity!

That means that you are likely to pay more for your loan, so Yes can take a cut.

They also seem to target those who want consolidate existing debt and/or have a poor credit rating. I can't tell if they offered unsecured loans - they certainly offer secured loans (surprise, surprise).

If you have a reasonable credit record, you should be able to source a personal loan yourself. You do not need to use an adviser or any other middle man.

And ... be clear about secured loans. These are, in effect, like a mortgage so you can lose your home if you do not keep up the repayments. And secured loans tend to have higher interest rates.

ScottieJambo .... please give us more details of the loan you want, what you want it for and if you think your credit record is good or poor.

When you get the details from Yes loans, read every word of the small print ... and if anything makes you feel nervous, sign the cancellation notice. By law, you must be sent a cancellation notice so you can change your mind and simply cancel the loan application.

You will then have time to do more research and find the loan that is right for you. We can help on this board, if you post more details.

I'm nervous .... do please read the small print and post back if you have any questions.

Debt_Free_Chick

I've just tried an online application. The online application process is for secured loans only.

They claim to have a "unsecured loans division" which you have to telephone - wonder why there's no online information about their unsecured loans service .....

I'm very sceptical

Reaper

I don't care about my post count - helping people or pointing them in the right direction is the important thing.

Take note Mr Shilling.

lol. You inspired me to check the figures:

He managed 1379 posts in the 35 days since joining! That's almost 40 every day!

anjelflower

hi there
just wondered what the apr is on this loan?

Martinslovechild

They're not the people who do the ridiculous Yes Car Credit adverts on TV are they? The ones with the girl in the green bodywarmer??

Their loans are 19.9% which is about 3 times more than a typical loan.

Spendless

It's not one of those really high interest rate loans is it?

What do you need the loan for?

If you post on here again,one of us might be able to make a suggestion that'll help your circumstances.