Tick Tock Loans

Tick Tock Loans are a new lender which are backed by the more established Savvy Loans. They’re based in London and accept customers via their website, contacting them by phone to complete the application process. Tick Tock Loans focus on providing people with short term loans that have fast payouts and good customer service.

The loans are available for between £200 and £1000, which can be borrowed for 3 to 6 months, depending on the value. Tick Tock Loans don’t charge a fee for lending, so the loan has a relatively high APR to make up for this. The company has an ethical approach to lending, reaching out to customers before charging a fine for late repayment. However, as with all short term loans, the cost of borrowing is very high and there may be better options available to you.

As a new company, Tick Tock Loans doesn’t have a lot of reviews online, so it’s hard to tell what their customer service is like. However, their parent company Savvy has a reasonable reputation. Tick Tock Loans does seem to be built around the customer experience, with a simple website and sensible approach to the application process. After you have completed the first part of the application, a dedicated customer support agent will phone you up to complete it. This means that you’ll have an opportunity to ask questions and hear more about exactly what you’re signing up for. It’s worth working out how much you can afford to repay before applying - try to avoid applying for more than you need.

My Verdict: Tick Tocks loans are a fresh new company with some good ideas about keeping their customers informed. The company is backed by the more-established Savvy Loans, but it’s hard to tell how good their customer service is at this early stage. If you’re considering a short term loan, it’s wise to check that you can afford the repayments and compare your options before applying.