April 2019 Update
We are currently in the process of updating our main comparison pages & the supporting company profiles. Thanks for your patience during this time.
Auden Loans | www.auden.co.uk Reviews
Uberima was launched in late 2014. This company flew under the radar not making quite an impact. They opted to start over in 2017 and did so using the more catchy Auden brand. This is a Manchester-based for profit social enterprise intent on delivering affordable credit to those underserved and overcharged. This is not the first company to arrive with big ambitions to take on the major brands. Fair Finance and My Home Finance (now closed) went down this road, but low pricing hasn’t evidently been enough on its own. The top 10 instalment firms all rank within 30,000 (local Alexa) and so heavy ad spends be that through TV or web ads are essential to battle for business.
Company: Auden Group Ltd.
Founder: Ged O’Neill and Giles Harridge.
Launched: 2017 (2014 as Uberima).
Offers: Instalment, payday, personal, short term (flexible).
Opening Hours: Monday to Friday (9.30am-5.30pm).
Other Projects: Non.
Address: Blue Tower, MediaCityUK, Manchester, M50 2ST.
Phone: 0330 134 8000.
Alexa Rank (Local): No Ranking.
Facebook Page: No page.
£8.96 /£200 (7d).
£38.40 /£200 (30d).
£120.63 /£300 (3m) | £100.53 /£300 (13w).
£172.70 /£300 (6m) | £164.56 /£300 (26w).
£750.03 /£1000 (12m) | £734.76 /£1000 (52w).
Amounts: £200 to £400.
Amounts: £1000 (when reloaning).
Amount Selections: £10 increments.
Late Payment Fee: £0.
Terms: 7 days to 12 months.
*The short term range is 7 to 30 days, weekly opens up 2 to 52 weeks and then for monthly you can choose between 2 and 12 months.
The 2 key qualities packaged together here are flexibility and pricing. On the flexibility side you can borrow for a set number of days, several months or even the full year that is rare. The pricing across each selection compares well against the majors. There is for instance around a £113 saving over Wonga at 6 months. No late fees are charged here and a neat feature of repayment holidays has been added. These are generally only available on sizeable unsecured loan contracts from banks. It states that up to 2 holidays can be taken after your first payment but not more than 1 in any 4 month period.
Alike other social enterprise companies, there are no weekend payouts available. This isn’t ideal when so many established providers can get cash to you on Saturdays and Sundays. The starting borrowing sum of £200 is quite high especially for those just seeking funds across any number of days. The overall pricing is competitive as was demonstrated above, but not market leading. If we take Track Loans as an example (another 2017 brand), they can deliver cheap instalment deals per £300 at £59.46 (3m) and £108.66 (6m). This compares to the lowest charges here of £100.53 (13w) and £164.56 (26w). Ad spends were limited at Uberima and so in this now more competitive landscape, they’ll need to invest across these channels.
Similar Lenders Like Auden…
The only other way that you could borrow between 7 days and a full year would be to opt for a personal line of credit from Drafty, SafetyNet or Tappily. With bad credit, only SafetyNet would be the likely company of these to give the green light. Whilst being subprime, they are still priced low over extended periods due to their interest cap that kicks in after 40 days. Provident’s Satsuma does share similarities with this lender such as the ability to repay monthly or weekly, the no late fee approach and the good spread of terms. Satsuma are more pricey though, as are many of the top lenders. When you factor in the added flexibility, there is clearly potential here.
Submit your review
This shower of an outfit do not accept those who are underserved. Furthermore once declined you can never be accepted. Totally useless and will not be in business very long