49.9% Representative
Will lend between: £1,000 - £5,000
Over: 12 - 36 Months
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118 118 Money is the sister company of 118 118, the directory enquiries service commonly associated with skinny runners, dubious moustaches and bushy black afros. 118 118 Money provide unsecured loans from £1000 to £5000, pitching themselves as a solution for those with a less than perfect credit file. To cater for this market 118 118 Money advertise a Representative APR that sits them at the pricier end of the scale. However, what makes 118 118 Money an attractive offering to bad credit borrowers is the fact they don’t require a guarantor to support an application.
When applying for a loan with 118 118 Money you will have to complete their online application form – although they have a phone help team (which by all accounts is very helpful), 118 118 Money don't take applications on the phone. They do aim to provide you with a decision as soon as possible and claim that this can be within 60 minutes. In reality, I would allow a bit longer, but once approved funds should be transferred into your account within 24 hours. This is all well and good...if you get accepted. Based on feedback from Choose Wisely customers, acceptance rates do seem to be quite low. Saying this, 118 118 Money have an excellent status on feefo.com, which at time of writing had received 2487 excellent reviews from 3954 with particular mention of their high customer service levels.
It’s worth noting that when borrowing from 118 118 money you will not be charged interest on your birthday. This won’t make a huge difference to your payments in the whole grand scheme of things but it’s a nice touch none the less.
Overall verdict: If you have a poor credit history and can’t find a guarantor then 118 118 Money are a lender that definitely should be in your shortlist. If you don’t match their criteria then there are various options available that will be better suited.
118 118 Money is a trading name of Madison CF UK Limited and the sister company of well-known directory enquiries service 118 118. 118 118 Money provide unsecured loans from £1,000 to £5,000 with fixed monthly repayments usually spread over one to two years. Depending on your individual circumstances the interest rate you're offered will change however, you won’t be charged any fees by 118 118 Money.
The application is completed online with applicants sometimes receiving a decision in under an hour. Successful candidates can receive their payout within 24 hours but will need to meet certain criteria, such as being aged between 18 and 70 years old, be a UK resident, hold a current bank account with debit card facilities and be either employed or self-employed receiving a net monthly income of more than £700. However, you do not need to have a perfect credit history to apply with 118 118 Money.
Repayments will be made on a monthly basis via direct debit and can be managed using their online account management system. Throughout your loan term 118 118 Money allow for partial or full repayment of your loan to be paid at any time – just give them a call.
Reference No: 741774
Trading names: 118 118 Money
Place of business:5th Floor, 1 Capital Quarter, Tyndall Street, Cardiff, Wales, CF10 4BZ
Registration No: ZA004145
Data controller: Madison CF UK Ltd
Address: 5th Floor, 1 Capital Quarter, Tyndall Street, Cardiff, Wales, CF10 4BZ
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