Mobile Money Review | www.mobilemoney.co.uk

Mobile Money

About…
Address: 62 Birchfield Road, Redditch, B97 4LH.
Branding: Mobile Money. AKA: MobileMoney.
FCA Licence: 455568.
From: Mobile Money Ltd.
Launched: 1998.
Memberships: CCTA.
Related: No companies.
Website: www.mobilemoney.co.uk.

Loan Details…
Available: Monday to Friday (8.30am/6pm), Saturday (9am/12.30pm).
Bad Credit Considered: Yes.
Manage: No Mobile Money login at www.mobilemoney.co.uk.
Offers: Bill of Sale.
Sums: £500 to £25,000 (new and returning).
Terms: 12 to 48 months.

The Pricing…
£426.80 /£1000 (12)

Notes: The branch network stretches across England and Wales. A recent added note states that coverage is now granted in Northern Ireland. If you can’t reach them then home visits can be arranged. Cash payouts can be made for logbook loans under £2000. Otherwise, the funds are transferred to bank accounts. Proof of ID, details of your income and a recent letter with your address must be shown. Poor credit, self-employment and even having no bank account can see approval. A credit search is however undertaken. Vehicle age is primarily set below 10 years, although exceptions can be made. This really depends on the value of the vehicle, its condition, mileage and for cars if it is classic or vintage. As well as cars, they lend against motorcycles, motor homes, vans etc.

Noteworthy…
– Amounts: The top £25,000 sum is higher than the limits you tend to see imposed elsewhere.
– Branches: This lender’s network currently stands close to 40 and these are spread in popular locations. Home visits are also made.
– Efficiency: A super-speedy V5 solution is provided with payouts possible within the hour. As noted, they pay cash below £2000. It helps that you shouldn’t have to travel far to find a local branch.
– Experience: Established in August 1998 that marks them as the longest running V5 lender. Their actual website was devised in 1999, just a few days after www.logbookloans.co.uk arrived.
– Niche: This moves us on to niche where they kick-started the sector as the original lender. As noted, Logbook Loans got online a few days before and they of course soon became the market leader for several years. The battle today is very much on though and this featured company stands out for offering a much cheaper loan deal.
– Operations: There is some added coverage for those looking for a Saturday payout, although this is for a short time.
– Pricing: The £425.96 charge is the 2nd cheapest deal available at just 99.9% APR (The Car Loan Centre is #1). For the same example they did previously charge £1350 that shows a major shift in value.

Updates…
– Amounts started at £200 rather than the £500 now in place.
– Pricing was £1350 for the example in focus today. This included a £30 document fee. Since this is no longer detailed on the site, we assume that such a fee no longer has to be made. Latest update: Did ask for £425.96 (now £426.80).
– SSL has been in place for some time now. This isn’t a recent development, but it is worth referencing since many V5 firms don’t integrate this added security.

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