1Plus1 Loans Review | www.1plus1loans.co.uk
Address: The Old Tannery, Eastgate, Accrington, BB5 6PW.
Branding: 1Plus1 Loans. Also known as: 1 Plus 1.
FCA Licence: 656190.
From: 1Plus1 Loans Ltd.
Related: No companies.
Available: Monday to Friday (9am/6pm).
Bad credit considered: Yes.
Manage: 1Plus1 Loans login provided via www.1plus1loans.co.uk.
Offers: Guarantor loans.
Pricing: £230/£1000 (12) | £460.16/£1000 (24).
Sums: £500 to £5000 (new) | £5000 max (returning).
Terms: 12 to 60 months.
Notes: Despite the range of terms available the amount of £1000 can only be taken over 2 years max. Applicants must be able to secure guarantors who own their own home with good credit (this can’t be a partner). There is a limit noted at 75 years old, but no such mention of the starting age. They appear more stricter than other service providers on backings, but CCJs and defaults won’t prevent the applicant from acceptance. For the examples attached above the interest rates are marked as 48.3% and 47.3%.
– Amounts: They start small at just £500 rather than the usual £1000.
– Efficiency: This company has created a swift guarantor loan service with potential same day cash. Account servicing is provided, but early settlements must be arranged by phone. There is also the lack of weekend funding, but the fast turnaround on payouts makes up for this. Many of the other product specs are similar to your average guarantor lender.
– £5000 was previously available to return users with £3000 being a newcomer’s restriction. There is no such notice of this any more and so everyone should be able to access their complete range.
– Guarantors had a limit of 70 that has now been increased. The initial age has never been listed.
– Operations have ceased on Saturdays. The previous times on this day were 10am to 4pm.
– Pricing over a 12 month period came in at £353 and so there has been a significant drop.
– This company was originally part of Secret Eye Ltd who were the team behind The Finance Facility. This was one of those broker fee services that didn’t present charge info clearly and so you had lots of people on forums complaining and seeking out refunds. Anyway, The Finance Facility has closed and it also looks like Secret Eye has become independent from this featured project.