Everyday Loans | www.everyday-loans.co.uk Reviews

Everyday Loans

Intro…

Everyday delivers large unsecured bad credit loans through a retail estate of 55 branches. Their valued industry experience and major high street presence has helped them to remain one of the industry heavyweights as time has passed. Arbuthnot’s Secure Trust Bank had been the brand owner, but they were sold on to Non-Standard Finance that was back in 2015. TrustTwo was included in the deal and more recently NSF boosted their guarantor credentials with the acquisition of George Banco. Everyday’s customer base sits at just over 45,000. This may not sound all that high, but you have to remember that each contract can be substantial, with funds as high as £15,000 up for grabs here.

About…

Brand: Everyday Loans (aka: EDL, EverydayLoans).
Company: Everyday Lending Ltd (part of Non-Standard Finance Plc).
Founder: Danny Malone, Mark Ridlington, Terry Williams.
Launched: 2006.
Licence: 724445.
Offers: Personal.
Opening Hours: Monday to Friday (10am-6pm) and Saturday (10am-12pm).
Other Projects: George Banco, Loans at Home, TrustTwo.
Web: www.everyday-loans.co.uk.

Contact…

Address: Secure Trust House, Boston Drive, Bourne End, SL8 5YS.
Email: Varies by branch.
Phone: 0808 231 5453.

Popularity…

Alexa Rank (Local): #45,658.
Facebook Page: 1060+.

Pricing…

£854.24 /£1000 (24m).

Product…

Amounts: £1000 to £15,000 (new applicants).
Amounts: As above (when reloaning).
Amount Selections: £250.
Late Payment Fee: £0.
Terms: 24 to 60 months.

*Within the site menu option of “Find Your Local Branch” you’ll be able to pick out the address, email and phone for your nearest branch. After applying you’ll be asked to meet them taking in your passport, 2 month’s bank statements and payslips. Further documentation is required if you are self-employed. On topic, they have a dedicated page for self-employed applicants that they package as the Selfy Loan. The headed APR range is 24.2% to 299.9% APR. Their main example is 93.6%. From running some calculations, this example however worked out at 93.81%.

Service Pros…

Everyday’s experience is ever growing and Non-Standard Finance has been investing with new branches opening up in 2018. Online reviews are supportive. At Feefo they have collected more than 8200 reviews. There is an 86% share of 5 star ratings and 12% of 4 stars that shows that they measure up well. They also rate favourably at Trustpilot (87% from 300+ feedback). A large £15,000 bad credit loan is possible here that can be spread across 5 years. There are also no late fees charged. They are a little vague when it comes to things like CCJs and defaults, but subprime is their target audience and self-employment is fine. It is more so important that you can demonstrate affordability.

Service Cons…

Some people won’t be too happy about having to complete the process face-to-face where your financials are analysed across 45 minutes. The payout time is also slow taking as long as a week since they hand out a cheque to successful applicants that will take time to clear. If you were hoping for a shorter 12 month loan then you’d have to settle up early with them since they start from 24 months onwards. More weekend coverage would surely help to boost their user base. As it stands, they only operate for 2 hours on Saturdays (10am to 12pm).

Similar Lenders Like Everyday Loans…

It is worth firstly giving a shout to Everyday’s sister brand TrustTwo. If you can find a guarantor then there is an improved deal up for grabs there at 43.8% APR. The most similar matched company to them would be Oakam who themselves have a retail presence. Unfortunately, most of their 19 stores are spread out across London. You can at least complete fully online. They are a bit more vocal on subprime targeting noting that they are happy with benefits and CCJs as well as self-employment. Other than Oakam, Juo is a good shout for 7/7 payouts and Likely offers the lowest subprime rate. For £1k over 24 months you’d be looking at £572.72 there (rather than £854.24).

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