Umbrella Loans Info (Closed)

Umbrella Loans closed down and went quietly sometime in the later stages of 2014. This brand had been available at www.umbrellaloans.co.uk since the year 2010. This North West lender was located in Bolton, but they later moved across to Warrington. This closure was unexpected since we were aware that new directors and investors had joined the venture back in 2013. They weren’t known to advertise on the web and were only introduced on several review websites and so it could be understandable to see that they may have been struggling to compete with the established firms who advertise aggressively. The product available here was fixed over the month.

They did at one point promote a logbook loan section on the site, but they were simply referring users here to a logbook firm (Hermes Property Services). New and existing customers could receive the same level of cash that sat between £100 and £500. A fixed 25% interest charge was set over the month and there was no cost required for fast funding and so they compared well for pricing against other monthly payday providers. The time before payout may have seen delays since they would underwrite the applications and they strictly worked between Monday and Friday between 9am and 5pm. Account management was provided to customers through www.umbrellaloans.co.uk.

SSL was also added here, although when navigating on to the application form you often had to type HTTPS through yourself in the address bar. This firm took steps to show that they were a responsible lender when they took on BCCA membership. There was a lack of reviews for them and so it was not easy to determine how well they were perceived by users. The signs of a closure was clouded through Umbrella’s planned expansions in 2013. However, their social networking pages hadn’t been updated for some time and there was no signs of any advertising spots and so unfortunately Umbrella Loans quietly bowed out of the sector.

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