Responsible Lending

Loans from Loan Moneytree

4 out of 5 loans accepted

 

All of our associated lenders are required to have a Responsible Lending Policy in order to protect the consumers. Some of these lenders belong to the BCCA, which means that they must abide by a strict code of practice that pertains specifically to short term lending. Others are members of the Consumer Finance Association. Either way, these lenders have specific operational and ethical guidelines in which they must operate. Prior to accepting any loan, be sure to check the responsible lending codes of practice for that lender.

It’s important to fully understand that an instalment loan is by definition, a short term loan that is taken over the timeframe of a month or less. If you have taken out four or more short-term loans within the last year, then we highly advise that you seek some debt and budgeting advice.

Most lenders will not allow a borrower to receive more than 30% of their net income each month. So if your application was denied, then perhaps try again for a lower amount.

Be sure that the short term loan site that you use has an application that is secure such as SSL technology.

It is important that you fully comprehend the APR that the lender is offering prior to accepting a loan.

Be sure that you are able to pay back your loan when your next pay period comes. Never borrow more than you can afford to pay back. If you believe you will miss your payment, then you must contact your lender immediately in order to come to an appropriate solution.

What lenders do not do:

Lenders do not offer funds to people whom they believe will be unable to repay their short term loans or for those seeking funding simply for holidays and ‘leisure’.

Lenders do not target those that have current debt issues.

Implications of a non-payment:

It’s important to talk to your lenders so that they can help you as best they can

Never borrow money that you do not believe you will be able to repay

All non-payments will result in the lender contacting the Credit Reference Agencies, which often times can have a negative impact on future credit ratings. If you believe you will miss a payment, it is imperative that you reach out to your lender and explain your situation by going to the ‘contact us’ page on the lender’s website, or contact us. And we will return the details for you.
Some lenders may charge a missed payment / late fee of up to £15

Every lender has their own individual policy regarding non-payment or late payments. Please refer to their website for details

To find out more about the BCCA code of practice – go here

Loan Moneytree Explained

Loan Moneytree Explained

Short-Term Loan Checklist

  • No Credit History Needed
  • Simple Online Application
  • Avoid Bank Overdraft Fees
  • Secure and Confidential
  • Pay Unexpected Bill
consumer credit trade association

Being a member of the CCTA (Consumer Credit Trade Association) brings with it a reputation for maintaining the highest standards and following guidelines to ensure we bring our customers the best service possible.

APPLY FOR A LOAN

Consumer Advisory:
Loan Moneytree is a loan matching service. This site will submit the information you provide to a direct lender. Upon loan approval, a direct lender may require further information from you which will be collected after we transfer you to their website or they may contact you via phone or email.

The operator of this site is not a direct lender. Loan terms, conditions and policies vary by lender and applicant qualifications. Late or missed loan payments may be subject to increased fees and interest rates. Not all lending partners offer up to £2,000 loans, and not all applicants will be approved for their requested loan amounts. Loan repayment periods vary by lender also. Lenders may use collection services for non-payment of loans.

Not all borrowers will qualify for a loan, the operator of this website does not engage in any direct consumer lending, we simply provide a FREE loan matching service to the public.

Representative Example:
Amount of credit: £850 for 11 months at £146.30 per month. Total repayment of £1,609.25. Interest: £759.25. Interest rate: 150% pa (fixed). 277.6% APR Representative.

Authorised and regulated by the Financial Conduct authority. Interim permission number 657596.

*Fund transfer times may vary based on the matched UK money lender, time of day applied and your bank.