Conduit Loans | www.conduit.org.uk Reviews

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Conduit Loans

About Conduit Loans

The Five Lamps Organisation is an FCA-regulated charity based in Stockton on Tees that was formed in 1985. Five Lamps Trading Ltd was established in 2012, but Conduit which is the active trading arm didn’t spring up until 2017. There was some initial confusion between this featured company and the Scottish version at www.conduitscotland.com. That appears to be composed for mere targeting as they have a Dunfermline office over there. The prices on that side are higher and so we’d advised applying here at www.conduit.org.uk that is open to all UK residents. There had until recently been a pause placed on lending during the pandemic. This has remained, but now based strangely on a high volume of applications.

One of the main gripes with this provider is the conflicting information that they provide on their service. Within the FAQ it states in one section that paperwork must be sent through the post whilst on the same page they state that you can e-sign and complete the process online. There is also a noted £7 faster payments fee listed here. They don’t however reference this on their homepage and so we have added it with the presented costs. Regardless of this fee, they do still pitch the cheapest 6 month loan whether you have good or bad credit. There are different prices in place depending on whether you choose to repay monthly or weekly.

The cheapest prices do come when going weekly. For £300 over 26 weeks you’d be looking at £64.24 that increases to £72.34 at 6 months. Whilst the pricing is competitive over a full year they aren’t able to hit the top 5 in that space. Between £200 and £1500 is made available to all customers. The loan calculator provided only presents a few select terms with it stating below that a complete range of 4 to 52 weeks is available. We were unable in this instance to fetch short term cost breakdowns. There are currently restricted operational times of 10am to 2pm between Monday and Friday in place. This may change when they are up and running again.

Company Details

Address: Eldon Street, Thornaby, Stockton-on-Tees, TS17 7DJ

Brand: Conduit (aka: Conduit Scotland)

Company: Five Lamps Trading Ltd (subsidiary of The Five Lamps Organisation)

Contact (📧): loans@conduit.org.uk

Contact (☎): 0300 111 0556

FCA Licence: 791848

Launched: 2017

Niche: Payday, instalment, personal

Opening Hours: Mon/Fri (10am-2pm)

Related Brands: Non

Site Address: www.conduit.org.uk

Site Rank (Alexa.com Global): Unranked

Product Specs

Amounts Available: £200 to £1500 (all customers)

Late Payment Fee: £0

Manage: No, a Conduit login is not provided

Pricing (Monthly Repay): £72.34 /£300 (6m) & £433.44 /£1000 (12m)

Pricing (Weekly Repay): £64.24 /£300 (26w) & £402.16 /£1000 (52w)

Repayment Terms: 4 to 52 weeks (options undisclosed)

Review Feedback

Feefo: Not listed

Reviews: Not listed

Trustpilot: Not listed

Rivals & Similar Lenders Like Conduit

This firm is currently not taking on applications. This is a shame based on the excellent deals that they pitch at the 6 month point. There are however rival options also focussed on affordable lending. Moneyline is a great fit and they charge just under £100 that is much better than the market average that tends to float just under £300. Moneyline also has a network of 17 branches and extends to Saturdays. Fair Finance is another great pick if you’re seeking value. There are various market solutions where you can benefit from extended weekly coverage, highly flexible terms etc. It’s just a shame that there is so much variability on what you pay across instalment loan providers.

Last Check @ www.conduit.org.uk: July 4th, 2021

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