Suco Review | www.suco.co.uk
Address: Brook House, 26 Brook Road, Rayleigh, Essex, SS6 7XJ.
Branding: Suco. Also known as: SucoLoans.
FCA Licence: 557065.
From: The Finance Store Ltd.
Related: TFS Loans.
Available: Monday to Thursday (9am/7pm), Friday (9am/5pm).
Bad credit considered: Yes.
Manage: No Suco login at www.suco.co.uk.
Offers: Guarantor loans.
Pricing: £475.04/£1000 (24 months).
Sums: £1000 to £12,000 (new) | £12,000 max (returning).
Terms: 24 to 84 months.
Notes: The product specs here are matched to the sister-brand and so the noteworthy points below are the same. As the case with the older brand if you selected the top sum then you could select a minimum 48 month repayment. Homeowners must back the application between the age of 18 and 75. The representative APR is 48.9%. Just to add that this brand is listed on a separate credit licence to the TFS company.
– Amounts: When comparing the leading guarantor lenders it is difficult to find distinguishable features with the products tending to be similar across providers. This lender however stands out through their potential £12,000 cash sums. This is the level of financing that some applicants may need for a car that wouldn’t be possible with similar companies that commonly stop at £5000.
– Efficiency: Fast payouts can reach you within 24 hours with the process being completed without any documents. This new design looks good, but there is no site login and no encryption used either that you would hope to see added soon.
– Eligibility: Severe credit problems including CCJs and defaults are accepted here. They have always been known to cater all circumstances such as self-employed, but they can afford to do this since all guarantors must be homeowners.
– Experience: This is a fresh brand, but the owner has been trading since 2003.
– Terms: The max 84 month repayment (7 years) is impressive to see, especially to break down the larger accessible amounts. Most similar lenders stop at 5 years.
– There are no updates since this is a newly formed company. On topic of launch, we predict that this took place in January 2015.