H&T Finance Review | www.handt.co.uk

H&T Finance

Last Update: November 25th, 2016

About…
Address: Times House, Throwley Way, Sutton, SM1 4AF.
Branding: H&T Finance. AKA: H&T Loans.
FCA Licence: 677994.
From: Harvey & Thompson Ltd (part of H&T Group Plc).
Launched: 1897 (2015 online).
Memberships: CCTA, CSA.
Related: H&T (Store).
Website: www.handt.co.uk.

Product Details…
Bad Credit H&T Loans Available?: Yes.
Manage: H&T Finance login provided via www.handt.co.uk.
Offers: Instalment and personal loans.
Opening Hours: Monday (9am/5pm), Tuesday (9.30am/5pm), Wednesday to Saturday (9am/5pm).
Secure (SSL): Yes.
Sums: £50 to £1000 (new and returning).
Terms: 3 to 24 months.

The Pricing…
£134.40 /£300 (3) <0.498%>
£178.32 /£300 (6) <0.330%>
£843.20 /£1000 (12) <0.231%>

Notes: The relaunch year of 2015 is likely yet not confirmed. This was however when they added their online pawnbroking capability and when there was also a whois update on the site. Underwriting times are also not confirmed. We have took the times that are used across their store network. The account login is served externally at https://customers.handtonline.com. As well as loaning, they offer a wide range of services that primarily covers pawnbroking as well as cash for gold, cheque cashing etc.

Noteworthy…
– Branches: This product is also available through their 190 stores suiting those looking for cash in hand. When heading down you’ll need to take in a bank statement, payslip, photo ID and proof of your address. Their wider range of financial services available was covered in their referenced posting above.
– Experience: This pawnbroking giant began serving communities in London in 1897. There has been a significant push since the Group floated on the Alternative Investment Market (AIM) in 2006. In regards to online lending, they originally acted as the lender for the broker Instant Loans Direct. They then chose to lend directly and had created the domain www.handtpaydayloans.co.uk. A personal loan product was then devised, but this was for their stores only. Only very recently have they moved back on to the web that as mentioned in the notes is tied in at 2015.
– Flexibility: This is one of the few subprime solutions whereby you can choose any single month between 3 and 24 (this was previously better though starting from a single month).
– Multi-memberships: Trade association memberships are held with the CCTA and CSA. Then there is also the NPA on the pawnbroker side of things.
– Niche: This is the market leading pawnbroker and they look to have a positive future moving forward. You get a good idea of this through their offering of both unsecured retail and web loans. Their pawn lending also extends to the web.
– Operations: There is some coverage on Saturdays.
– Owner: The Group is the market leading pawnbroker, as well as being the oldest. They have continued to progress well, even when their main rival Albemarle & Bond faced difficulties. Similar to many companies in their field, the expansion into catering a wide range of financial products has been key to growth.
– Pricing: When compared against other lenders, they measure up well noting the 6 month charge of £178.32. Unfortunately, they have now removed the payday loan option where they charged just £22.20.

Updates…
– 2016 has seen the repayment terms changed from 1 to 24, to 3 to 24.
– Pricing for the product when it was release in-store only was £28.40 per £100. The instalment charges for £300 were £88.68 (3) and £127.98 (6). The instalment costs as you can see have been hiked up.

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