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

    Light Finance Loans 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

    Credit score not affected*

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    Rates from 45.3% APR to 1575% APR Minimum Loan Term is 1 months - Maximum Loan Term is 60 months. Representative Example: Borrow £1000 for 24 months. Annual interest rate 70% (fixed). 24 equal instalments of £77.48. Total amount to repay £1,859.52. Representative 97% APR (variable).
    *Subject to application being approved by the lender. Not all lenders are able to provide up to £10,000

    Choose Loan Amount

    Credit score not affected*

    Loading

    Rates from 45.3% APR to 1575% APR Minimum Loan Term is 1 months - Maximum Loan Term is 60 months. Representative Example: Borrow £1000 for 24 months. Annual interest rate 70% (fixed). 24 equal instalments of £77.48. Total amount to repay £1,859.52. Representative 97% APR (variable).
    *Subject to application being approved by the lender. Not all lenders are able to provide up to £10,000

    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 97% 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: 

    08424810

    Company Name:

    lightfinance.co.uk is a trading name of TFLI Limited

    Date firm started up business:

    28th February 2013

    Type of Business: 
    64999 – Financial intermediation not elsewhere classified

    Light Finance offers the following:

    £100 to £10,000 

     

     

    Loan term length:

    3 months to 60 months

     

    Previous Business Names:

    TFL INTEL LIMITED

    28 Feb 2013 – 26 Mar 2013

    Head Office Address:

    The Old Boiler Room,
    Adelphi Mill Grimshaw Lane,
    Bollington,
    Macclesfield,
    England,
    SK10 5JB

    FCA Status: Authorised

    TFLI Ltd is regulated and authorised by the Financial Conduct Authority.

    Payout Time:

    In most cases, you will receive your money within 20 minutes of being approved. If you are required to upload any documents as proof of evidence, this may take a little longer but it will usually be within the same day.

    Light Finance Review

    Light Finance is Based in Bollington, UK and was set up in 2013. They are not a direct lender, they are a loan broker who will match you with lenders most likely to accept your loan application.

    There are great benefits to using a loan broker before you apply directly with a lender.

    When you make a loan application with a lender they will run a credit check on your file, this credit check is recorded permanently on your file and will stay there for up to 6 years when the data is removed.

    If you are refused for a loan it could damage your credit score because this says to other lenders that your not suitable for credit and they also will not accept your application.

    Every lender is totally different. Some lenders will accept you while other lenders will not. A loan broker gives you the chance to find these lenders directly without applying for a loan with the wrong lender.

    Once you fill out the application form and enter all of your personal details they will run a soft search on your file. This will not mark it like a normal credit check. It gives them an overview of your circumstances and allows them to find lenders who will most likely accept you with your financial status.

    This way when you apply with your chosen lender and the credit check is performed you can relax knowing that you will most likely be accepted. Of course, it is not a total guarantee however, there is a higher chance.

    How the company works:

    To apply for a loan with Light Finance you will need to enter all of your personal and financial details online using their application form. Their application form is very clear and easy to use.

    Once you have entered all of your details you will be directed to the lender who is most likely to accept you based on the information that you provided.

    Your chosen lender may ask you some additional information. Once you have completed this and submitted your application form you will receive a decision instantly about your loan.

    If your lender requires any additional information or supporting documents it is at this stage that they will ask you to provide them.

    If you were accepted for your loan then you can expect them to review it the same day. Some lenders even endeavour to transfer the funds within an hour of your application being accepted!

     

    Repayment method:

    Repayment method varies from lender to lender most lenders use either CPA (Continous Payment Authority) or direct debit as a standard method of repayment.

    Both of these methods are great because you don’t need to worry about making your loan repayments. They will automatically be taken from your account.

    CPA automatically deducts it from your card like an online transaction and direct debit takes it from your bank account using your sort code and account number.

     

     

     

    Do I need a bank account?

    As most lenders are online only you will need a bank account to be eligible to apply for a loan. If you can not access a bank account then there are doorstep cash loan options with companies such as Morses Club or Provident Personal Credit.

     

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

    Age

    The minimum age to be eligible to apply for a loan in the UK is 18 years of age. Some loan providers require a minimum of 21, 23 or even 25 years of age.

     

    Address information

    All applicants will need to be resident in the United Kingdom. Some loan providers also require there to be a minimum of 3 years worth of address history in the UK before you apply with them.

    This information allows them to run the necessary credit checks and check your financial background.

     

    ID and Income

    Each lender will require different income information. Some lenders need all applicants to be in full-time employment, others accept part-time or even applicants receiving benefits.

    You will only be matched with a lender who will accept your financial status.

    Nearly all lenders will ask their applicant to fill out an expenditure form which will detail all of your monthly income and outgoings.

    This gives them a chance to review how much money you will be left with each month and ensures that you can afford your loan and will be able to make your repayments.

    Penalties

    There are penalties if you don’t make your repayments on time. Each lender has their own policy so it is always best to ensure that you are fully aware of this before you sign your loan agreement.

    Some lenders will charge a missed payment fee as well as additional daily interest, while others will not but will report you to the credit reference agencies an get your account marked.

    Missing payments could mean that you may be prevented from applying for any more credit in the future. It is always best to contact them as soon as possible and keep them informed on your financial situation.

    They may be able to help you and offer you a solution to your situation. Not contacting them could make things worse.

     

     

    Reviews

    Unfortunately, Light Finance doesn’t have great reviews on Trustpilot however all of the reviews state they were asked to pay £19.99 for a credit report.

    It does state on the Light Finance website that they will never ask you for any money upfront, their service is free to use and they only gain a commission from the loan company, not yourself.  So it would appear that the people who left these reviews may have been scammed by a fake company.