Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk Loanski is an authorised credit broker not a lender

Lending Works Alternative

Loans from £100 to £10,000

  • 1 month to 5 years
  • 100% online application
  • All credit scores welcome to apply
  • Paid in as fast as 10 minutes^

 

Secure SSL connection

Your application is sent over a secure encrypted network

Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

Choose Loan Amount

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Representative 305.9% APR.
Representative example: £400 borrowed for 90 days. Total amount repayable is £561.92 in 3 monthly instalments of £187.31. Interest charged is £161.92, interest rate 161.9% pa (variable). Loanski.co.uk does not provide any loan or consumer Credit products directly.

Choose Loan Amount

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Representative 305.9% APR.
Representative example: £400 borrowed for 90 days. Total amount repayable is £561.92 in 3 monthly instalments of £187.31. Interest charged is £161.92, interest rate 161.9% pa (variable). Loanski.co.uk does not provide any loan or consumer Credit products directly.

Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

Loans from £100 to £10,000

  • 1 month to 5 years
  • 100% online application
  • All credit scores welcome to apply
  • Paid out in as fast as 10 minutes^

 

Secure SSL connection

Your application is sent over a secure encrypted network

REPRESENTATIVE 305% APR

Loanski offers competitive interest rates compared to some lenders across the market.

Installment Options

Customize your loan term from 1 month to 60 months putting you in control of your payment plan.

Fast Payouts

You can expect fast payouts sometimes within 10 minutes^

Company Number: 

8302549

Company Name:

LENDING WORKS LIMITED

Date firm started up business:

Lending Works started out on 21 November 2012 under the name of “social mint” and changed their name in 2014.

Loan value range:

1,000 pounds to 25,000 pounds

Loan term length:

1 year to 5 years

Previous Business Names:

SOCIAL MINT LTD

21 Nov 2012 – 09 Jan 2014

Payout time:

You will receive your payout within 48 hours of submitting your application.

Head Office Address: 60 Gray’s Inn Road, London, WC1X 8AQ

FCA Status: Authorised

Review:

Lending Works is a loan company, which is slightly different from other loan companies.

They offer 3 types of loan services which are:

  • Peer-to-peer Lending
  • Innovative Finance ISA
  • Personal Loans

Lending works cuts out the banks and allows you to borrow money from real people, meaning that they can offer lower and better interest rates than the other companies.

You can obtain a free quote on your loan from Lending Works, which will not affect your credit score. This then gives you an idea about the amount you will borrow and what it will cost to pay it back. 

Lending works Mission:

“We will achieve our vision by putting ‘fair’ first and constantly innovating to offer the best possible user experience. Our relentless focus on outstanding customer service, honesty and transparency will ensure our customers love using Lending Works and trust the services that we offer, while our focus on living our company values will ensure our employees and partners feel enriched, valued and rewarded.”

 

Lending Works Vision:

To pioneer fair financial services that people love.

How the company works:

Taking a loan from Lending Works is very similar to other companies. You can apply online and receive your decision within minutes. Because Lending Works cut out the middle man, like the banks and other loan companies, they are able to offer their customers fantastic deals on their loans with low-interest rates.

Money that you borrow is invested from normal people who want to invest some of their money and make a little profit.

Because real people are investing their own money to lend out, Lending Works have stricter guidelines than other companies, therefore, you will need a higher credit rating to be accepted to borrow from then. 

 

Repayment method:

Repayment is made by direct debit on a date of your choosing.

 

Do I need a bank account?

You will need a UK bank account to be able to borrow money with Lending Works. You will also need a UK bank card attached to the account, so Lending Works can carry out a thorough credit check to get you the best deal possible.

 

To be eligible to apply for a loan you must fit the following criteria:

 

Age

You must be a minimum of 20 years old to be eligible to apply for a loan with Lending Works.

 

Address information

During your Lending Works application, you will be asked for information on your previous address. This normally goes back approximately 3 years, sometimes 5 depending on the depth of the credit check they’re carrying out.

 

ID and Income

You will be required to supply identification and also provide information on your income and monthly outgoings. This is so Lending Works can assess how much you are able to borrow and if you can afford the monthly repayments.

Any documents can be uploaded using your online account.

Penalties

If you miss a payment with Lending Works, they will allow you up to 5 working days to make a payment without receiving a charge.

If you still cannot make the payment after 5 days then they will add both charges and fees to your account.

After this, the next stage is passing your loan onto a debt collection agency, which could be detrimental to your credit score, essentially meaning you may not be able to borrow credit in the future.

It is always best to speak to someone as early as possible to put a payment plan into place.

Lending Works have a fantastic trust Plot review of 5 stars out of 5! It is one of the best Trust Pilot reviews we have seen on a loan company, which really does suggest that these guys are good at what they do.

Their unique system seems to work very well, leaving their customers very happy with the loan deals that they are given.

A massive 90% of the reviews are rated as excellent with only 1% being rated as bad.

Customer compliment the companies customer service level and the time it took to receive a payout, start to finish.  According to the reviews, the staff at Lending Works are well trained and deal with all any enquiries or issues in a timely manner.

 

There were no major issues in the 1% of bad reviews. It was mainly customers complaining that they had been provisionally accepted and then declined for a loan.

This is because Lending works isn’t like a normal bank or loan company. People invest their own hard-earned cash to be loaned out, so the company is a lot stricter than others when it comes to accepting people for loans, as previously mentioned.

Cooling-off Period

If you change your mind after you have received your loan from Lending Works, you have a 14-day cooling-off period. You are able to notify Lending Works within 14 days and place a cancellation request. After you have done this then you have 30 days in total to ensure all of the money has been transferred back into their account.

If you have passed the 14 day period then you are still able to cancel your loan but you will need to request a settlement figure from your Lending Works account. Once you have received this figure and repaid the total amount your account will be fully settled.

 Fast Decision Online Loans

^Subject to lenders requirements and approval, also the time that it takes for the cash to be received in your account will depend on your bank’s policies and procedures.

As a credit broker, we will receive a fee or commission when a loan application is accepted.

Loanski.co.uk is a trading style of ZR FINANCE LTD and is a free to use credit broking website. ZR FINANCE LTD is authorised and regulated by the Financial Conduct Authority as a credit broker not a lender, firm reference number 834092 and is registered with the Information Commissioner’s Office number ZA319345. ZR FINANCE LTD is registered at 15 Conway Crescent, Macclesfield, SK10 2RU. Company Number 11213186.