www.lendersdirect.co.uk is a trading name of First Point Money Limited. First Point Money Limited is not a lender and therefore does not make loan or credit decisions. First Point Money matches customer's loan applications with lenders in our database depending on the information provided. The completion of the application form does not guarantee approval of a loan. The loan amount may vary depending on the lender who accepts the application within our database. The time taken to transfer a cash advance loan may vary. This website does not directly endorse a particular product and service. Any information on this website should be taken as opinion only. The APR is different for each loan type provided. First Point Money Ltd will charge you a one off fee of £69.75 to act as an online intermediary. This fee is specified as part of our communications with You. If you do not enter into a loan offered by lender or financier within the 1 month that we act for you then we will refund the fee less than the £5 brokerage fee provided for by the Consumer Credit Act 1974. Refunds must be requested in writing to avoid repayments being sent to a wrong address and/or getting lost. To facilitate us processing payments and repayments you authorise us to retain your charge, credit and debit card details. With regards to payments set up by debit or credit card we will attempt to take a fee when you make your application. Under the Financial Services (Distance Marketing) Regulations 2004 you have the right to cancel your agreement with us within 14 days of receiving these terms and conditions, you will be entitled to a full refund which will be made within 14 days of receiving your request. If you would like to cancel You must Inform us by writing, please view our Terms and Conditions.
Representative Example for a Loan of £1,000 over 12 Months with a Monthly Repayment of £163.10 and Fixed Interest Rate of 95.72% APR and a total Amount Payable of £1,957.20 giving a Representative APR of 299%
|LOAN TYPE||LOAN AMOUNT||MONTHLY PAYMENT||TERM OF LOAN||TOTAL AMOUNT PAYABLE||APR (VARIABLE)|
|Guarantor Loan||£3,000||£161.01||36 months||£5,796.36||49.90%|
|Logbook Loan||£750||£121.16||18 months||£1,453.92||491.36%|
|Cash Loan||£100||£28.17||23 weeks||£149.50||545.20%|
|Personal Loan||£1,000||£163.10||12 months||£1,957.20||299.00%|
|Payday Loan||£200||£275.00||28 days||£357.36||2610.15%|
ALL LOANS ARE SUBJECT TO PROOF OF AFFORDABILITY AND INTEREST RATES ARE DEPENDENT ON INDIVIDUAL CIRCUMSTANCES. ALL LOANS ARE SUBJECT TO VERIFICATION CHECKS
Warning: Late repayment can cause you serious money problems
Failure to repay your loan on time may affect your credit rating and your ability to get credit from lenders in the future. It may also make getting credit more expensive. For more information regarding non/late repayments please speak with the lender you are matched with directly.
Key Information: If you do not pay your creditor your normal contractual payments you will be extending the repayment term. If your accounts are not already in arrears, they will fall into arrears by any non-payment or by making smaller payments. Your creditor may also enter this data onto your credit report. If you have not already received defaults, your creditor may issue default notices against any debt while you remain in arrears. This can happen when you enter into any debt solution service. If payments lower than your contractual amount is made, your creditor can also continue to add interest and administrative charges to that account or at their discretion reduce these. Not paying your contractual amount will also increase the balance of your debts. If any creditor issues legal action against you this will incur further legal costs. Fees are payable when a continuing service is provided - all fees will be outlined during your consultation.
A guide from the Insolvency Service: In Debt - Dealing with Creditors as recommended by the Money Advice Service. Alternative free-to-consumer debt advice organisations as recommended by the Money Advice Service.