Raphaels Finance Review | www.raphaelsbank.com
Address: 80 Shirley Road, Southampton, SO15 3EY.
Branding: Raphaels Finance. AKA: RaphaelsFinance.
FCA Licence: 356017.
From: Lenlyn Holdings Plc.
Launched: 2015 (1957 as Southern Finance).
Related: No companies.
Bad Credit Considered: Yes.
Manage: No Raphaels Finance login at www.raphaelsbank.com.
Products: Hire purchase, lease purchase, personal contract purchase.
No current estimate.
Notes: Applications are processed through brokers. As we have seen with a few other lenders in this sector, there is little shared for us to add a complete profile. We can look at their history below and the hope will be to reach them soon to fill in the gaps on contact times, pricing, terms etc.
Southern Finance Company Ltd was established in March 1957. They were acquired by the Lenlyn Group in 2004 who had also snapped up Raphaels Bank. This Bank took complete control in 2010 and the rebrand came in 2015. Lenlyn is the current parent company, but there has been talk for some time that a sale is on the cards. There isn’t much product information disclosed on the site. It is believed that HP, LP, PCP plans are available through brokers that includes such key partners as CarFinance247 and Eurodrive. Southern’s approach was to target moderately poor credit scored applicants with settled CCJs being ok. Guarantors were asked to stand in when the applicant was aged at 23 or less and so there would likely be no change on this ruling. There was 20,000 customers signed up and this user base is expected to continue to grow over the coming years. It isn’t however a great start in not being able to apply directly or to even learn about the product costs and options before being guided through a broker.