Wesleyan Loans Review | www.wesleyan.co.uk
Address: Colmore Circus, Birmingham, B4 6AR.
Branding: Wesleyan Bank Personal Loans. AKA: Wesleyan Loans.
FCA Licence: 387062.
From: Wesleyan Assurance Society.
Launched: 1993 (1841 as Wesleyan Assurance Society).
Related: No companies.
Available: Monday to Friday (8am/6pm).
Bad Credit Considered: Fair-to-good score required.
Manage: Wesleyan Bank login provided via www.wesleyan.co.uk.
Offers: Personal loans.
Sums: £1000 to £25,000 (new and returning).
Terms: 12 to 84 months.
£72.32 /£1000 (12) £141.92 (24)
£412.76 /£10,000 (12) £803.60 (24)
Note: Application query times are headed above. There is a change for existing customers who can reach them between Monday and Friday (8.30am/6.30pm) and also Saturdays (9am/2pm). The APR for the examples shown is 13.9% (1k) and 7.8% (10k). There is an extra fee of £15 should you wish to speed the payment process up. This would take the above examples to £87.32, £156.92, £427.76 and £818.60. Regardless of paying this, you’ll need to send forms through the post that itself can take several days. It is not made clear if the login extends to loan usage. There are actually 2 known facilities that includes www.mywesleyan.co.uk and www.wesleyanbank-online.co.uk.
– Amounts: Matching many of their banking rivals, the top accessible loan stands at £25k.
– Experience: The society was established in 1841 originally to help people overcome the financial problems brought on by the first industrial revolution. They ventured into banking much more recently in 1993. Their focus is seen in insurance, investments and savings, pensions etc, with no such current account being available. Lending had been targeted at professions in legal, medical etc. There is however now a greater focus on the mainstream in personal loans that are open to all with good credit.
– Operations: Application queries are only answered during working days. Customers signed on plans can however reach their support team on Saturdays.
– Ownership: This isn’t one of the banking giants, but they do have impressive market credentials, as seen for instance through their control of assets at £6 billion.