Buddy Loans | www.buddyloans.com Reviews

Buddy Loans

About Buddy Loans

Buddy Loans is the sole venture of Advancis Ltd, who are based in the Stockport area. This guarantor product was unveiled in 2014 and it has progressed well, ranking today as a top 5 sector brand. They have a good search engine presence for key terms in the space, but haven’t particularly invested much on the advertising front. The product pitched delivers funding between £1000 and £10,000 across a range of 12 to 60 months. You’ll need to select at least £3250 to access the complete range (amounts below stop at 36 months). At the year point £1000 is priced at £237.36 that is an average sector price. Backings do extend to tenants.

They do specify though that they’ll need very good credit and for larger requested amounts a homeowner backing would typically be required. Qualification is open to those with past CCJs or defaults and a payout is possible on the same day of application. They do actually process applications on Saturdays that can be helpful as some rivals tend to stick with Monday to Friday. They have however cut back on their hours a little. We can recall them previously operating 12 hours days during the week, but this is now 8 hours. Buddy’s service has been well received. Looking at Trustpilot they currently hold a 90% score and have received well over 3000 review to date.

Company Details

Address: Alexandra Court, Carrs Road, Cheadle, SK8 2JY

Brand: Buddy Loans (aka: Buddy Guarantor Loans, BuddyLoans)

Company: Advancis Ltd

Contact (📧): hello@buddyloans.com

Contact (☎): 0161 850 4141

FCA Licence: 718849

Launched: 2014

Niche: Guarantor

Opening Hours: Mon/Thu (9am-5pm), Fri (9am-4pm), Sat (9am-1pm)

Related Brands: Non

Site Address: www.buddyloans.com

Site Rank (Alexa.com Global): #1,689,899

Product Specs

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

Backings: Homeowners or tenants aged between 18 & 80

Late Payment Fee: £12

Manage: Yes, a Buddy Loans login is provided

Pricing: £237.36 /£1000 (12m) & £484.34 /£1000 (24m)

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

Review Feedback

Feefo: Not listed

Reviews: Not listed

Trustpilot: 90% (3160+ count)

Rivals & Similar Lenders Like Buddy Loans

It is looking increasingly like a potential closure is on the cards for the market leader Amigo. Even if they were to exit the picture competition remains strict ahead from GuarantorMyLoan and TrustTwo. The products across these don’t differ that much, but GML’s cashback bonus does help them to stand out. With potential market share up for grabs you’d have to think that TrustTwo may edge it through the support they have from Non-Standard Finance who also compete in this niche under George Banco. There are now under a dozen competing guarantor brands and so for wider choice it would be advised to consider the 12 or 24 month loan products with no such required guarantors.

Last Check @ www.buddyloans.com: June 10th, 2021

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