Drafty Loans | www.drafty.co.uk Reviews

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Drafty Loans

About Drafty Loans

Drafty is part of Gain Credit (formerly Global Analytics) who made their name locally through the Lending Stream brand that provides fixed 6 month loans. Whilst Stream lacks flexibility, this isn’t the case with the impressive line of credit facility packaged together here. This project was tested throughout 2015 and the full launch would follow in summer 2016. It is clear that they were greatly inspired by the early traction of SafetyNet who opened with this concept in the UK back in 2014. Drafty’s service is competitively priced with high sums available making this a worthy overdraft alternative. It is however prime specialised and you’ll need to be earning at least £1250 monthly.

The low interest rate is the standout quality in place here. This fixed rate comes in low at 0.18% daily that creates highly competitive short term and instalment prices. The value does slip as you head close to a year and so shorter borrowing is advised. Drafty’s growth has been improving consistently. In the various niches competed in, they are now a top 5 brand and their recent TV ads seem to be pushing them further on. It is notable that the owner treats this project as importantly as Lending Stream who have excellent visibility on the ad front. Drafty’s support team was available 7 days a week across Mon/Fri (7am-10pm), Sat/Sun (7am-10pm).

There has however been a recent change that we spotted on the last check-up. The times have shrunk and Sunday has gone. With this type of facility the opening hours aren’t a big issue though as once a limit is yours you’ll be able to access it 24/7. The pot made available is a large one as well stopping at £3000 for new customers and £5000 on reloans. You’ll be able to make repayments whenever you please. The minimum payment itself runs at whichever is higher of 6% of the amount borrowed plus interest or £50 unless balance/interest is below. This had previously been 2% and £10. This firm rates well at 94% (Reviews) and 88% (Trustpilot).

Company Details

Address: PO Box 10756, Leicester, LE3 4GX

Brand: Drafty (aka: Draftie)

Company: Gain Credit Llc (subsidiary of Gain Credit Inc)

Contact (📧): customercare@drafty.co.uk

Contact (☎): 020 3695 8072

FCA Licence: 689378

Launched: 2016

Niche: Credit line, payday, instalment

Opening Hours: Mon/Fri (9am-6pm), Sat (9am-1pm)

Related Brands: Lending Stream

Site Address: www.drafty.co.uk

Site Rank (Alexa.com Global): #503,324

Product Specs

Amounts Available: £50 to £3000 (£5000 on reloans)

Late Payment Fee: £0

Manage: Yes, a Drafty login is provided

Pricing: £5.40 /£100 (1m) & £48.60 /£300 (3m) & £97.20 /£300 (6m)

Repayment Terms: 1 day to 12 months+ (any day between)

Review Feedback

Feefo: Not listed

Reviews: 94% (740+ count)

Trustpilot: 88% (9700+ count)

Rivals & Similar Lenders Like Drafty

There are 3 other rival credit line facilities with a pair arising from Indigo Michael (SafetyNet & Tappily) and then there’s Apfin’s Polar Credit. SafetyNet’s service is the most popular of the bunch, but it’s subprime specialised and can get pretty expensive. Polar is a little unproven, but their prices are very similar to Drafty’s such as at 6 months charging £95.29 for £300 (vs £97.20 here). Outside of LOCs it would be 0% cards that would be the way to go or there are plenty of low rate personal loans out there. Creditspring is an interesting one as they accept low scores and yet they only charge the equivalent of £120 for £1000 over a full year.

Last Check @ www.drafty.co.uk: July 8th, 2021

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www.drafty.co.uk Reviews
Average rating:  
 2 reviews
by Mr B on www.drafty.co.uk Reviews

Impressed with the low pricing offered by Drafty. Have saved a lot of money over QuickQuid who I had previously used. Brill.

by RazerRob on www.drafty.co.uk Reviews

Very cheap and flexible!