Consollo Review | www.consollo.com
Address: Holland House, 1-5 Oakfield, Sale, M33 6TT.
Branding: Consollo. AKA: Consollo Loans.
FCA Licence: 638932.
From: Stonemere Finance Ltd.
Related: No companies.
Available: Monday to Friday. See notes.
Bad Credit Considered: Yes.
Manage: No Consollo login at www.consollo.com.
Offers: Guarantor loans.
Sums: £1000 to £7500 (new) | £7500 max (returning).
Terms: 12 to 60 months.
£226.64 /£1000 (12) £462.08 (24)
Notes: Not currently funding any new applicants until 2016. Over their maximum repayment (60) you must select at least £2500. This is an important figure to highlight since if you want more money than this then the guarantor will have to be a homeowner. Otherwise tenants are fine so long as they have a good credit history and are aged between 21 and 75. Applicants must also be aged over 21 and be earning a minimum of £750 each month. For our attached breakdowns the APR was displayed at 39.5%, but it actually sits closer to 48%. Information surrounding their service hours are not shared. At a previous owned company they listed Monday to Thursday (8am to 8pm) and Friday (8am to 5.30pm) there and so this would be the best estimate.
– Amounts: You can now access as much as £7500 that is higher than what most lenders offer.
– Efficiency: They aim to complete the entire process as quickly as they can with payouts possible within 24 hours. They are however lacking on account servicing and weekend funding at this time.
– Pricing: Any sector charge below £230 per year shows top value. This lender in fact takes a 3rd best placed ranking by price.
– £5000 was originally the top potential sum that could be received.
– Cost has seen a slight reduction. The previous charge per year was £236.72 that matched that of the Market Leader.
– Guarantor tenants can now support the agreement (at £2500 or below). All other specs are the same as before.
– Stonemere Finance that was formed in 2010 has devised a range of further projects over these years, however non are active any more. They did lend through a payday loan company called 321Cash. They also operated as a broker through Cash Calf and Pay Me Early.
– Waiting for an update on 2016 trading.