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Mr Lender Loans | www.mrlender.com Reviews

Mr Lender Loans

Intro…

Adam Freeman was accepted to appear on 2008’s The Apprentice show. This entrepreneur however took the decision to withdraw from the process at the last minute that caused a bit of a media storm when Alan Sugar hit out that he had bottled it. Alan Sugar had a point, but this decision would lay the foundations for a thriving new payday loan venture to come to fruition. PDL Finance Ltd would be incorporated on Halloween 2008 and Mr Lender followed in February 2009. Stretch forward to 2014 and this firm would enjoy £8.4 million PBT. They later faced issues when industry capping came into force and so would adapt to restructure their product to cater instalments.

About…

Brand: Mr Lender (aka: MrLender).
Company: PDL Finance Ltd.
Founder: Adam Freeman.
Launched: 2009.
Licence: 673310.
Offers: Instalment.
Opening Hours: Monday to Friday (8am-6.30pm), Saturday to Sunday (8am-3.30pm).
Other Projects: Non.
Web: www.mrlender.com.

Contact…

Address: Suite 105W, Sterling House, Langston Road, Loughton, IG10 3TS.
Email: enquiries@mrlender.co.uk.
Phone: 0208 532 1969.

Popularity…

Alexa Rank (Local): #53,010.
Facebook Page: 12,000+.

Pricing…

£144.80 /£300 (3m).
£254.40 /£300 (6m).

Product…

Amounts: £200 to £500 (new applicants).
Amounts: £1000 max (when reloaning).
Amount Selections: £10.
Late Payment Fee: £0.
Terms: 3 to 6 months.

*Any amount of £500 or above must be repaid at 6 months. There is a Mr Lender promo code box on the homepage, but no known codes to use.

Service Pros…

The efficient Mr Lender loans have attracted a loyal following over the years. As well as 12,000+ Facebook fans, their customers have left plenty of support on various key portal sites. Their Trustpilot score comes in an 97% (2300+) whilst at Reviews.co.uk they edge a little further to 98% from well over 21,500+ feedback. This gives you an idea of the professional service that can be expected and they have never attracted controversy in the media over their active years unlike major firms like QuickQuid and Wonga. Some obvious plus points are the 7 day payouts, the small £10 incremental changes on loan sums and their decision to charge no late payment fees.

Service Cons…

Considering that longer terms are in place, the available amounts are pretty restricted at £200 to £500 for newcomers. When reloaning any amount up to £1000 become available, but only over 6 months. The overall pricing here sits on the similar ballpark as charged by most subprime lenders. It isn’t clear what reduction would be seen from a promo discount. There weren’t any listed on any voucher sites and nothing also on social media where they were just promoting prize giveaways. It could be argued that this firm has lacked ambition in recent years. We haven’t seen TV adverts or aggressive promotion online that would surely be essential to compete with the likes of Lending Stream and Sunny.

Similar Lenders Like Mr Lender…

There are many alternative options out there to choose between. One such company that stands out is Track Loans who offers the same 3 to 6 month term range. They also stop lending at £500 although this is also the case when reloaning. Track really shines in the pricing department where you are looking at £300 charges of just £59.46 (3m) and £108.66 (6m). This is quite a difference to the headlined costs here of £144.80 (3m) and £254.40 (6m). For added flexibility you could perhaps look to the likes of Peachy who offers (1m-12m) or Satsuma (3m-12m). Satsuma doesn’t charge late payment fees and neither does Sunny who are also open 7/7 days.

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