1Plus1 Loans | www.1plus1loans.co.uk Reviews

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1Plus1 Loans

About 1Plus1 Loans

1Plus1 Loans is an Accrington-based guarantor lender that was constructed by Gary Mckenna back in 2013. This firm has progressed well over time and now ranks as a top 5 market brand. 1Plus1’s site is vibrantly styled. Here you can access between £1000 and £10,000 that is a slight change on the previous starting sum of £500. The full repayment range is 12 to 60 months with the choices rising in 6 month increments. There are to note some restrictions based on what you select. As an example, at £1k you can only select 36m max whilst on the other end of the scale at £10k you’d need to pick from 24m onwards.

Pricing is set at £233 per £1000 over the period of a full year. This is the same price whether the backing is a homeowner or a tenant. They do however specify that a tenant backer would need to have an exceptional credit score in order to stand in. The required age difference is 18 (H) and 21 (T) that extends to 75 in both cases. It is stated that all applicants are considered and that a fast payout is promised. They don’t however go into the specifics. They will need to verify income through Open Banking. External reviews have been picking up and they now hold an approx 80% share of 5 star ratings on Feefo.

Company Details

Address: The Old Tannery, Eastgate, Accrington, BB5 6PW

Brand: 1Plus1 Loans (aka: 1 Plus 1, OnePlusOne)

Company: 1Plus1 Loans Ltd

Contact (📧): info@1plus1loans.co.uk

Contact (☎): 0330 120 0313

FCA Licence: 717767

Launched: 2013

Niche: Guarantor

Opening Hours: Mon/Fri (9am-6pm)

Related Brands: Non

Site Address: www.1plus1loans.co.uk

Site Rank (Alexa.com Global): #4,740,825

Product Specs

Amounts Available: £1000 to £10,000 (all customers)

Backings: Homeowners aged between 18 & 75 or tenants 21 & 75

Late Payment Fee: £15

Manage: Yes, a 1Plus1 Loans login is provided

Pricing: £233 /£1000 (12m) & £470 /£1000 (24m)

Repayment Terms: 12 to 60 months (12, 18, 24, 30, 36, 42, 48, 54 & 60)

Review Feedback

Feefo: 79.9% (rated 5/5) (exact 448/561)

Reviews: Not listed

Trustpilot: 82% (90+ count)

Rivals & Similar Lenders Like 1Plus1 Loans

The guarantor loan sector has become a problematic space to compete in and has become the most complained about sector that spells high chance of coming closures through compensation payouts. George Banco and TrustTwo were recent confirmed closures and Amigo’s future looks in doubt. There are under 10 market solutions and so the choice is already limited. The actual products across those active tend to similar in their characteristics. When it comes to alternatives, Bamboo, Buddy Loans and GuarantorMyLoan look to be the safe choices. It is GML that has impressed us the most, simply based on their cashback deal that can get you the cheapest deal by some distance at £129.81 for £1000 over a year.

Last Check @ www.1plus1loans.co.uk: July 4th, 2021

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