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Sunshine Credit Loans | www.sunshinecredit.co.uk Reviews

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Sunshine Credit Loans

About Sunshine Credit Loans

Sunshine Credit delivers the cheapest payday loan on the UK market today. This is what helps them to stand out from the crowd, but this is one of the most basic sector offerings, alongside being one of the least popular. This is surprising as they’ve had 5 years to establish themselves having launched in 2016. There are 4 brands attached to The Quick Loan Shop Ltd roster. Quick Loan Shop is central that is packaged with excellent flexibility whilst the company in focus delivers the short term value. Miss Payday and Wee Loans are hit and miss. They are simply charged at the market cap of 0.8%, they carry no extra features and receive very little traffic.

Sunshine’s product is simple in its design. New and returning customers can apply for between £100 and £500 covering their next payday only. There is no ability to manage the loan through a login. There’s also a lack of phone support and as the case across the Group there are no opening times shared. There are no online reviews and so it remains unclear how they’re being perceived. It may be the case that they are using the low rate to entice leads that are then passed through their broker channel. The price is certainly catchy. If you were being paid in 30 days then you’d be charged £12 rather than the capped £24 that most firms stick with.

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Savvy Loans | www.savvy.co.uk Reviews

Savvy Loans

About Savvy Loans

Stockport’s Valour Group references operating in FinTech and LegalTech. We aren’t familiar with everything that they have been working on, but their Savvy personal loan product has been central. There was a time when they were brokering under Best4Loans and Money Hotshot, although this is no longer the case. Savvy’s roots head back to 2013, but they had originally used both the Valour and Lightning names for a short period. To date they’ve paid out just over 92,000 loans. They do seem to be doing well as a local business, but have evidently struggled across the wider UK being unranked at Alexa. This is surprising as we can recall them running a TV ad campaign in late 2016.

On a past check this lender offered a starting term of 6 months, but they now offer 4 available selections of 8, 12, 15 and 24 months. Various amounts are assigned to these fixed terms that are £300 to £500 (8m), £501 to £1200 (12m), £1201 to £2000 (15m) and £2001 to £3000 (24m). The rates of interest lower as you climb up the levels. For a year, a charge of £999.92 would apply for £1000. At 2 years, £2999.90 would come in for £3000 that is equivalent of £999.97 for £1k. You could always access £2001, but for display purposes we compare full figures. The Savvy reviews are supportive on Feefo and Trustpilot is good at 88%.

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MyKredit Loans | www.mykredit.com Reviews

MyKredit Loans

About MyKredit Loans

Global Kapital Group has enjoyed tremendous growth since their formation in 2010. They’ve gone on to employ 2000 staff across 18 countries. A range of sectors have been took on including alternative finance, brokerage, corporate banking and digital banking. Short term lending is an avenue that they have operated in since the year 2015 under MyKredit. This brand has been rolled out across multiple locations worldwide. This has included Australia, Indonesia and Vietnam, but these projects don’t appear to be active today. We are just aware that they are now operating locally and also in Spain. Their Spanish site is currently performing competitively whilst the progress of www.mykredit.com has been more mixed although local competition is much greater.

The MyKredit loans are available over 2, 3 or 4 months. The amounts of £100 to £400 are open to first time applicants moving to a reloan limit of £1000. Pricing over 3 months is £146.43 for £300. As part of the application process you’ll need to verify your salary via Connect-Secure. To touch on late payments, there is no initial fee charged across an extended grace period. £10 would be charged if the payment isn’t collected by the next repayment. It would be possible that this could come sooner though if they were unable to contact you for clarification. When unable, a 2nd CPA attempt would be made after 10 days that if failed would trigger the fee.

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Anico Finance Loans | www.anicofinance.com Reviews

Anico Finance Loans

About Anico Finance Loans

Anico Finance is a London-based instalment loan provider. There is some uncertainty on the background launch of this firm. Anico Financial Services Ltd was incorporated in 2010. It wasn’t until late 2014 that www.anicofinance.com was composed though and they later began building their social media properties across 2015. When reaching the site you’ll see a clear focus on the Filipino community. This is a popular niche that we’ve seen targeted elsewhere by Kabayan Finance and Pera Loans. The standout feature here is competitive pricing, whilst the main drawback is the inability to apply online. You’ll either need to give them a call or if you’re based locally then you can pop into their London office.

As part of the application process documents will need to be issued, but they state that there is an easy way of getting them across. Anico’s product delivers between £300 and £1000 to first time borrowers whilst reloaning extends to £2000. The term range is 3 to 12 months, but it isn’t made clear if full monthly selections can be made. Pricing is competitive with a fixed rate of 98% that is applied on an annual basis rather than against a reducing balance. When accessing £300 you’d pay £73.50 (3m) or £147 (6m). They don’t charge late payment fees. All applicants must be aged 21 or above. External reviews are lacking and unfortunately their operational hours aren’t shared.

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The Money Platform Loans | www.themoneyplatform.com Reviews

The Money Platform Loans

About The Money Platform Loans

The Money Platform is a short term structured peer-to-peer platform targeting credit-worthy individuals. This service was launched by Gracombex Ltd back in 2016. Their growth since has been gradual across this time. Breaking through would have surely come easier if they went down the subprime route. This has been working well recently with Fund Ourselves and GuarantorMyLoan. TMP’s service could also do with some tinkering on the flexibility side. As it stands, those borrowing are only granted 4 amount picks across select weekly terms. There is firstly £250 over 8 or 12 weeks and then £500 covers 6, 8 and 12 weeks. Both £750 and £1000 open up all available choices of 4, 6, 8 and 12 weeks.

As a result of these restrictions, we had to compare the 4 week price at £750 and the 12 week option at £250. The £750 4w charge sits at £147. If £100 were available then this would calculate as £19.60 that is over 28 days equating to 0.7% daily interest. Pricing is variable since lenders can lend at 0.7% or 0.8%. When charged at the cap rate of 0.8% you’d pay £168 for £750 that translates as £22.40 per £100. The cost would be £24 for a full month of 30 days, but 28 days is set here. A lender receives 50% of the interest paid and the other 50% is assigned as the TMP loan administration fee.

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MoneyBoat Loans | www.moneyboat.co.uk Reviews

MoneyBoat Loans

About MoneyBoat Loans

MoneyBoat was launched by Evergreen Finance London Ltd several years back in 2014. To date they’ve helped close to 103,000 customers across the UK. MoneyBoat’s traffic ranks continue to impress with a big improvement evident across 2021. Today they’ve managed to develop impressive search engine visibility for key niche terms and there is an extra push coming from Google ads. This has helped them to compete as a top 5 brand in the competitive 3 and 6 month instalment sectors. MoneyBoat’s service enables any monthly selection between 2 and 6. Amounts of £200 up to £800 are open to first time applicants. With trust earned, reloan customers see a level increase as high as £1500.

For pricing examples, our past checks per £300 showed £136.30 (3m) and £259.64 (6m). It’s tricky to confirm these now as their calculator shows fixed examples based on the current date when you are paid on the last working day of the month. Bad credit is considered and speedy payouts are promised at www.moneyboat.co.uk that has a smooth looking design. The MoneyBoat loans come with a 3 day grace period on late payments before any fee is applied (a £15 fee is charge failing this period). There is to note a minimum required monthly income of £1000 in your pay packet. MoneyBoat’s review feedback at Trustpilot scores well at 92% from soon approaching 5000 reviews.

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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.

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Payday Loans Net Loans | www.paydayloansnet.co.uk Reviews

Payday Loans Net Loans

About Payday Loans Net Loans

Payday Loans Net (logo branded as PDNet) is one of three brands active within the Western Circle Group. CashFloat is the flagship operation of the trio, whilst Pera is the smallest and this company in focus that arrived in 2017 nestles between them. Quick Loans Express had been a further trading brand, but the site for this has closed. There has been a few product changes put forward at www.paydayloansnet.co.uk since we last checked up on them. The key change is in regard of the loan sums. The new range for all customers now runs between £500 and £1500. The past limit was £200 to £700 to first time applicants with a future reloan cap of £2000.

Another change sits on the term side that had previously ranged between 1 and 6 months. This has been shortened to 3 to 6 months. It appears quite strange to have removed the option that their actual “Payday” name is targeting! There are restrictions imposed to specific terms. With the starting £500 you’d for instance only be able to pick the initial 3 month selection. To be able to select a 6 monthly period you’d need to borrow at least £950. We compare instalments at £300, but as a result of their restrictions have had to calculate £600 for 3m and £1200 for 6m. The prices ran for these as £290.90 (3m) and £893.45 (6m).

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Quick Loan Shop Loans | www.thequickloanshopltd.co.uk Reviews

Quick Loan Shop Loans

About Quick Loan Shop Loans

Quick Loan Shop is a flagship brand that strangely takes the full company name in its domain of www.thequickloanshopltd.co.uk. There are 3 other lending arms all competing in the payday space noting Miss Payday, Sunshine Credit and Wee Loans. Outside of this they have a comparison site called LenderSeekers and various other unfinished projects as highlighted on their FCA page. It has been impressive to see so many operations running from the founder (Stuart Salter). It would surely be beneficial though to really push the flagship brand in focus, but this hasn’t really been the case and this is with a long running venture established in 2012. This core asset is packaged the best of the bunch.

It carries great flexibility and impressive value when borrowing over several months. The loan amounts range from £100 to £2000 for all customers. The single monthly choice sees £100 to £500 and then the instalment selections (named FlexiEase) enable £400 to £2000. This is when picking any month between the range of 3 and 12. We compare instalment costs at £300 and so with £400 being minimum we’ve had to double up to £600 examples. These prices equated to £152.28 (3m) and £281.10 (6m) that would translate as £76.14 (3m) and £140.55 (6m) for £300. These are each competitive top 5 subprime deals. The full year price of a £1000 gets much more expensive at £957.20.

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MotorKitty Loans | www.motorkitty.co.uk Reviews

MotorKitty Loans

About MotorKitty Loans

MotorKitty is still relatively fresh on the scene having arrived back in 2016. They were able to adjust quickly as the founder Damon Hirschl had built the Varooma company from the ground up. They got off to a great start soon after launching, but this was short lived and they don’t appear to be doing so well now, evident from being Alexa unranked. This may well change soon. Logbook lending has proved tricky throughout the pandemic. What’s really helped newcomer Loan on Your Car to overcome this has been their innovative online process with no such required visits. MotorKitty’s service certainly deserves greater attention as it is delivers excellent market value set across varied interest tiers.

These tiers run as: Very Poor, Poor, Average, Good and Excellent. When opting for a £1000 loan over 12 months these costs would vary as £200, £269.96, £449.96, £650 and £749.96. There is a best price guarantee provided of a 10% bonus plus a £50 Amazon gift voucher. For reference, the only rival that beats their lowest tier is V5 Loans at £640.60, but V5 appears to be a potential closure. MotorKitty logbook loans extend to 60% of trade value on sums ranging from £500 to £5000. The 3 to 24 monthly term range isn’t very wide, but you can pick any month between. They send reps that can meet across England, Northern Ireland and Wales.

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