Ferratum Money Loans | www.ferratum.co.uk Reviews
About Ferratum Money Loans
Ferratum’s global expansion has been impressive to witness with 23 markets now served and long term plans to hit 50 countries. This company was started in Helsinki, Finland, by Jorma Jokela in May 2005. They have generally spread out across Europe although they have started to expand further noting Brazil and Mexico. Collectively, the group serves 800,000+ active customers (+186k global Facebook fans). There has been a drop though since we can recall a 1.5m tally quoted some years back. The UK market has been served since 2010 when they started trading from Liverpool. Local progression has taken its time, but they are now considered as a major brand in the payday and instalment sectors.
The early focus at www.ferratum.co.uk was to cater flexible short terms spanning between 7 and 37 days. They would later switch to instalments across 2 products, but the larger option (called PlusLoan) was discontinued. They now cater 1 to 4 months on amounts ranging from £50 to £700 for newcomers and £1000 max when reloaning. They do for reference also push business loans on their site (£50,000 max on a 18 month term). This lender has historically been strict with bad credit, but this has eased a little. They have for instance lowered the minimum age from 23 down to 18. Support is available during working days only, but existing customers can request funds 7/7.
Company Details
Address: Suite 318, 25 Goodlass Road, Liverpool, L24 9HJ
Brand: Ferratum Money (aka: FerratumMoney)
Company: Ferratum UK Ltd (subsidiary of Ferratum Oyj)
Contact (📧): customercare@ferratum.co.uk
Contact (☎): 0151 601 8611
FCA Licence: 672537
Launched: 2010
Niche: Payday, instalment
Opening Hours: Mon/Fri (8am-5pm)
Related Brands: Non
Site Address: www.ferratum.co.uk
Site Rank (Alexa.com Global): #1,007,089
Product Specs
Amounts Available: £50 to £700 (£1000 on reloans)
Late Payment Fee: £15
Login Provided: Yes
Pricing: £24 /£100 (1m) & £154.26 /£300 (3m)
Repayment Terms: 1 to 4 months
Review Feedback
Feefo: Not listed
Reviews: Less than 10 feedback
Trustpilot: 72% (860+ count)
Rivals & Similar Lenders Like Ferratum Money
One of the group’s key competitors worldwide is Latvia’s 4Finance who are active across 16 countries. They operate through various brands, but are mostly known for Vivus. This firm no longer operates in the UK, yet they had tried it out on 2 different occasions. The group may have also seen Wonga as a major threat. Wonga’s Spanish and UK divisions have closed and so they only have to worry about them in Poland (they aren’t active in South Africa). Local competitors that perform at a similar level include CashFloat, Mr Lender and SafetyNet. CashFloat are quite similar as they do cater the same 1 to 4 month term spread.
Last Check @ www.ferratum.co.uk: February 13th, 2020
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Brilliant customer service team!!xx
