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Likely Loans | Reviews

Likely Loans


Likely’s owner Oakbrook Finance Ltd has been in business since 2011. Their introduction to subprime lending began with GuarantorUs back in 2013. Here they delivered a low rate guarantor loan that was notable for its price, but this brand never received early traction. This resulted in the following year with a rebrand of Likely Loans. This lender has come along way since, now serving more than 100,000 customers. This time around, investment in TV advertising and web promotion through Facebook has helped this company to challenge for market share. A 2nd project (Appro) would follow in 2016. This works more like a gateway to the main site, but a cheaper rate is packaged at 19.9%.


Brand: Likely Loans (aka: LikelyLoans).
Company: Oakbrook Finance Ltd.
Founder: Charles Mindenhall, Manoj Badale.
Launched: 2014 (2013 as GuarantorUs).
Licence: 707357.
Offers: Personal.
Opening Hours: Monday to Friday (8am-8pm).
Other Projects: Appro Loans.


Address: The Poynt North, 45 Wollaton Street, Nottingham, NG1 5FW.
Phone: 0208 080 6450.


Alexa Rank (Local): #22,647.
Facebook Page: 2700+


£278 /£1000 (12m).


Amounts: £500 to £5000 (new applicants).
Amounts: As above (when reloaning).
Amount Selections: £1 increments.
Late Payment Fee: £0.
Terms: 12 to 60 months.

*Incremental calculator changes are in £10s, but on the main application area you can choose any amount to the £1. For amounts between £500 and £990 you’ll need to repay within 2 years. APR is variable (39.9% to 99.9% APR). Payouts are made on the next working day (after an overnight check). If you applied after 27th Jan 2016 then you can take advantage of their Connect account login facility.

Service Pros…

There are many plus points, but pricing is an area of distinction considering that poor credit is targeted. A £1000 12 month Likely loan is the UK’s cheapest bad credit deal at £278 (not factoring fair scored). This is for the main headed APR of 59.9% (59.95%). The charge is variable, but even at the highest potential price they are cheaper than most of their rivals. Poor credit is as noted their target audience. They are quite vague on the specifics other than that bankruptcy in the past 12 months is not allowed. You may run into the “Approved Subject to Final Checks” notice. In which case, just be prepared to upload documents to support your application.

This is one of the most flexible products around. The repayment terms head up to 5 years that will help to minimise how much you pay each month. This is especially handy when you are applying for the purpose of debt consolidation. When a sizeable sum is required they also head as high as £5000. The ability to pick any amount to the £1 is a neat feature. There are no late fees charged and this lender has an excellent collection of support on Feefo. From close to 11,000 reviews, the percentage of 5 star ratings is 89% and the 4 star share is 10%. That’s an impressive combined 99% share of happy customers.

Service Cons…

It was a struggle to find fault in this impressive service. The only thing that you could really pick at is that they do close at weekends. This is a shame, but they do at least operate across extended hours throughout the week (8am-8pm).

Similar Lenders Like Likely Loans…

There are several providers that fit the bill, but we’d have to side with Juo Loans as the best alternative. This is a newly formed brand in 2017 from the same team behind WageDayAdvance. Juo offers both a guarantor and personal loan. The guarantor deal is priced low at £241.85 and the personal option is packaged at £440.80 that is a good subprime price. They offer as much as £3000 over 3 years max. What stands out with this company is that they are open 7 days a week. Their weekend hours are Saturday (9am-5pm) and Sunday (10am-4pm). Both MyJar and Sunny are other high flying brands open 7/7, but the long term costs with each are pricey.

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