LendFair Review | www.lendfair.co.uk

LendFair

About…
Address: Suite 1, Centurion House, Barrows Road, Harlow, CM19 5FN.
Branding: LendFair. Also known as: Lend Fair.
FCA Licence: 650429.
From: LendFair Ltd.
Launched: 2013.
Memberships: Non.
Related: No companies.
Website: www.lendfair.co.uk.

Loan Details…
Available: Monday to Friday (9am/6pm), Saturday (10am/1pm).
Bad credit considered: Yes.
Manage: No LendFair login at www.lendfair.co.uk.
Offers: Guarantor loans.
Pricing: £228.68/£1000 (12) | £466.40/£1000 (24).
Sums: £500 to £5000 (new) | £5000 max (returning).
Terms: 6 to 60 months.
Notes: Guarantors can be homeowners or tenants. The tenant note states at least 2 years with the same landlord. The required age spans between 18 and 75. The displayed APR is 48%.

Noteworthy…
– Amounts: Most lenders start from £1000, but they start much lower here at £500. It is also good to see that they allow you to select any sum over any term since many rivals have specific limits.
– Efficiency: This process can take a few days, but it is claimed that same day funding is possible. You would need to have a guarantor prepared who would need to be contacted for swift completion. Once finalised the payment is initiated within 4 hours. Early savings are granted, but this would need to completed by phone or in writing.
– Eligibility: The requirements are relaxed here. Whilst they don’t dig into specifics on eligibility, they don’t take a credit check on the applicant.
– Operations: There is minor coverage on Saturdays between 10am and 1pm.
– Terms: As an added advantage to that small £500 sum, they also start from just 6 months that is again rare in this sector.

Updates…
– Guarantors were asked to be homeowners, but this ruling has now been relaxed. They don’t charge extra when tenants stand in.
– Operations ran between Monday and Friday over the same times. The addition of Saturday is however new.
– Payouts have tended to take a few days for completion, but they have improved and we now see potential same day turnarounds.
– Product specs (pricing, terms, sums etc) have remained the same.

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