V5 Solutions Review | www.v5solutions.co.uk

V5 Solutions

About…
Address: 27 St Benedicts Street, Norwich, NR2 4PF.
Branding: V5 Solutions. Also known as: V5Solutions.
FCA Licence: 414684.
From: Betterpace Ltd.
Launched: 2012.
Memberships: CCTA.
Related: TopUpToday.
Website: www.v5solutions.co.uk.

Loan Details…
Available: Monday to Saturday. Times not specified.
Bad credit considered: Yes.
Manage: No V5 Solutions login at www.v5solutions.co.uk.
Offers: Bill of Sale.
Pricing: £1282/£1000 (12 months).
Sums: £300 to £5000 (new and returning).
Terms: 18 to 36 months.
Notes: Once an application has been processed a representative will arrange a meeting at a location of your choice. Document requests include proof of income for the past 2 months (bank statements), 2 utility bills and a photo ID. Whilst this lender can fund against caravans, motorbikes, tractors and various other vehicles, there is a noted age restriction of 8 to 10 years old. It does state that the decision is based on the make and model, but they do look to be picky starting from 8. Whilst a potential same day turnaround is headed, it is difficult to pinpoint their speed since they don’t reference their opening times and the information presented on the locations that their reps can get to isn’t shared. If you were to ask for a Faster Payments transfer then an extra £5 would be due (= £1287 total). This can be avoided by receiving a cheque payment. The minimum 18 month term is high, but you can settle early. A company Facebook advert promoted that £300 to £3000 was available. Their calculator stops at £3000, but below this it states that they can stretch to £5000 on request. In error they actually quote £50,000 in the FAQ.

Noteworthy…
– Eligibility: You have the choice of receiving a credit check or not. If you were to opt for one then this could lead to an improved rate and a higher cash offering, but this may of course go against the decision if you have a poor track record. They do however mention that bad credit and CCJs are considered. Self-employment is fine and there is no requirement on holding a bank account.
– Operations: Monday to Saturday is displayed as the operational service days. The specific times are however not disclosed.
– Payments: There is a payment facility that enables repayments through the site. This is not a complete login facility though. The domain has SSL fitted, but you’ll likely have to enter HTTPS manually for a secure connection on the payment page.

Updates…
– Bank transfer fee cost was £10 that has now been reduced to £5.
– Sister-brand TopUpToday is a payday loan company. On checking, their rates didn’t meet the sector cap. Interest was £25/£100 and the transfer was £5 (cap is £24).

Share on FacebookShare on Google+Share on LinkedInTweet about this on Twitter