118 118 Money Review | www.118118money.com
Address: PO Box 515, Ashford, TN23 9RF.
Branding: 118 118 Money. Also known as: 118118 Money.
FCA Licence: 656451.
From: KGB Group.
Related: No companies.
Bad credit considered: Fair-to-good score required.
Manage: 118 118 Money login provided via www.118118money.com.
Offers: Personal loans.
Pricing (Prime): £176/£1000 (12) | £344/£1000 (24).
Pricing (Subprime): £428/£1000 (12) | £896/£1000 (24).
Sums: £1000 to £5000 (new and returning).
Terms: 12, 18 or 24 months.
Notes: We have displayed prime and subprime pricing examples above that covers their APR span of 35.9% to 99.9%. There is in fact a mid rate of 79.9%, but they don’t disclose a repayment example for it. The loan calculator itself only tells you how much they are likely to offer you rather than the exact costs. They do however note what your monthly repayment will be at the bottom and top end. You pay no interest on your birthday, although you’ll only benefit from a few quid at most. This lender is looking for fair to good credit scores. They do however clearly state that they are willing to consider all circumstances and they are flexible in other areas such as self-employment. To qualify, your minimum income needs to surpass £700 each month. Payouts can be made within 24 hours, although documents may sometimes be requested.
– Amounts: £5000 loans are possible here. From typing in some sample info into their calculator though they only usually stated that a few thousand pounds could be accessed. You have a much better chance of that maximum figure if you have good credit and a sizeable living wage after your bills have been taken away.
– Operations: Outside of the big banks, it is rare to see 24/7 customer support, but you benefit from that here.
– Profile: The 118 118 loans may be relatively new, but they are in popular demand online. TV ad campaigning and TV show sponsorship has been key to their early traction. Many people will of course recognise the branding through their origins as the leading telephone directory.
– Promotion: You pay no interest on your birthday. As noted, no more than a few quid will be wired to your account, but it is a nice touch either way.