Questions

How do your interest rates compare ?

Banks are generally the cheapest option, though unlike us they have minimum loan values (usually 1000 pounds and upwards) don’t acknowledge state benefits as an income and rely to a great extent on previous credit history.

If your bank won’t help then we are cheaper than most alternatives, at least half the price of most home credit cash loans.

For example –

if you are a new Moneyline customer -

 

Term Loan Admin fee interest weekly pmt total cost APR
typical cash loan 32 weeks

£250.00

£0.00

£150.00

£12.50

£150.00

399.70%

moneyline 32 weeks

£250.00

£12.50

£67.12

£9.91

£79.62

160.25%

SAVING          

£70.38

 

How can we do that?

Because…

We are not set up to make profit for shareholders.

We have no agents to pay.

We rely mostly on word of mouth and don’t spend money on advertising on TV or in the press.

We look for the cheapest rents for our shops, so we might be off the main High Street.

Our income covers our lending costs – nothing more.

Can I get a Moneyline Loan?

If you are aged 18 or over, and have a bank account capable of paying Direct Debits, you can apply.

If you don’t already have a bank account, we can help you to open one

You will need to provide us with proof of your address and confirmation of your income.

  • Poor credit history – needn’t be a problem
  • Benefits taken into account as income
  • We work in partnership with a number of Housing Associations and welcome applications from tenants

How do I apply for a loan?

You can phone or call in to your local office.

Alternatively, you can us the “Enquire Now” option, select your nearest office, and they will contact you.

We will arrange to meet you at one of our offices, or, if you prefer, sort out your application over the phone and through the post.

How much can I borrow ?

We believe that the loan has to be affordable and that it should be repaid over a sensible term.

The amount therefore depends on your income, your outgoings and other commitments, and the loan purpose.

We won the Credit Today Responsible Lender of the Year Award in both 2011 and 2012, which really means that we do our very best to make sure that the loan amount, the loan term and the repayments are at a level that fit your circumstances.

How long does it take to get a loan?

Usually you will receive a decision on the day that you meet our advisor. If your loan is approved we transfer the agreed amount to your bank account. It is then available for you to draw out within 4 working days.

How do I repay my loan?

We collect the loan repayments from your bank account by Direct Debit.

Payments can be collected

· Weekly (Monday to Friday on a day of your choice)

· Fortnightly (Monday to Friday on a day of your choice)

  • Monthly (on a date of your choice 1st – 28th)
  • Four Weekly (starting on a date of your choice)