Update (Feb 2020):
Comparison listings are currently being updated.
Likely Loans | www.likelyloans.com Reviews
About Likely Loans
GuarantorUs initially arrived in the summer of 2013. The rebrand to Likely Loans followed not long after in 2014. Whilst guarantor lending was the initial focus, the requirement of a backing was dropped when the change went through. The owners (Oakbrook Finance) really wanted to push this project into the limelight and they achieved this well through the aid of TV ad campaigning. Growth since has been impressive with more than 100,000 customers now using the service. This is Oakbrook’s sole lending operation, but they had also composed a site for Appro at (www.approloans.com). This itself was a mere brokerage arm, with the central company funding and servicing the product. It has since been removed.
Poor credit borrowers are the target audience. You just need some borrowing history and mustn’t have been made bankrupt in the past 12 months. Even though subprime is their focus, they still pass on excellent sector value. For £1000 per year you’d be looking at a representative cost of £278. This is only around £50 more expensive than what you’d usually pay for a guarantor loan. Borrowing levels start small at £500 and rise high to £5000. You can stretch the balance across 5 years that for £1k creates an affordable monthly repayment of just £44.13. There are no late fees charged and Likely’s reviews on Feefo are excellent with 90% rating their service 5/5.
Address: The Poynt North, 45 Wollaton Street, Nottingham, NG1 5FW
Brand: Likely Loans (aka: LikelyLoans)
Company: Oakbrook Finance Ltd
Contact (📧): firstname.lastname@example.org
Contact (☎): 0208 080 6450
FCA Licence: 707357
Launched: 2013 (was GuarantorUs)
Opening Hours: Mon/Fri (8am-8pm)
Related Brands: Non
Site Address: www.likelyloans.com
Site Rank (Alexa.com Global): #624,993
Amounts Available: £500 to £5000
Late Payment Fee: £0
Login Provided: Yes
Pricing: £278 /£1000 (12m) & £572.72 /£1000 (24m)
*Variable APR range of 39.9% to 99.9%. Representative 59.9%
Repayment Terms: 12 to 60 months
Feefo: 89.5% (rated 5/5) (exact 17,382/19,414)
Reviews: Not listed
Trustpilot: 62% (70+ count)
Rivals & Similar Lenders Like Likely Loans
Based on current traffic performance, 118 118 Money looks to be Likely’s key competitor. An advantage on that side is that they are operating 7 days a week. On Stride Financial had been a key rival until recently, but the Enova brands ceased trading in late 2019. When you are seeking competitive value, Bamboo is a good shout charging £235.72 per £1000 over a year. This is the 2nd cheapest rate with Avant’s £205.16 being the cheapest overall subprime offer. The leading guarantor lenders will naturally be seen as competitors, with Amigo being the leader of the pack. Savvy rivals like Bamboo and George Banco offer both guarantor and non-guarantor options that may be worth considering.
Last Check @ www.likelyloans.com: February 14th, 2020
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A very fast and efficient service.
I was declined by this lender, but accepted for a guarantor loan.