If you are looking for additional income, you may consider applying for Lendfair loans.
People with different financial circumstances can use this opportunity, including those with bad credit.
In this review, you will find some important information about this option to understand if it makes sense to deal with this company.
LendFair has not been around for many years, but has already approved lots of loan applications.
It is a UK company based in Harlow, Essex and regulated by the FCA.\
They offer two basic types of loans with various features, which allows customers to find the best option.
People with bad credit are accepted, but they have to have a guarantor willing to pay their debts instead of them if something happens.
All applications are made online, and you can use the PayPoint facility for payments.
Also, you can pay off your loan earlier to decrease interest.
A Standard 47 Loan
You can apply for a ‘Standard 47’ loan in the amount ranging from £500 to £5000 for the period of time from 6 months to 5 years for any purpose.
It is available with a 47% APR fixed rate.
No arrangement fees are applied.
The following are the requirements that you must match to get a loan:
- You must have a guarantor (a homeowner of more than 75 years old);
- You must be above 18 years old;
- You must have a bank account opened in the UK;
- You must have a stable income ( no need to have full-time employment);
You will not have to go through any credit check because this will be done for your guarantor.
Also, guarantors are not required to be employed.
An Advantage 29 Loan
They also offer ‘Advantage 29’ guarantor loan that is suitable for people with not perfect but good credit history and a guarantor with excellent credit.
In this case, you will be offered APRs of just 29.9%.
This type of loan is available for people who are above 21 years old.
Ratings and Reviews
On Feefo, they have 235 reviews with a rating of 4.5 out of 5.
There is only one review giving the lowest rating without any comment.
On Readies, the company has the rating 4.5 out of 5 based on 44 reviews.
There are also customers’ comments that you can check out on other websites with the same high rating.
Lendfair is a great solution for people looking for an easy and good way to get some extra money.
The only complication that you can face is to find a guarantor, but since their conditions are pretty attractive and you do not need to have perfect credit, it is not a big deal.
Their rates are fixed, so you should not be afraid of paying more than agreed.
Also, the company has high rating on different websites, which means that customers are happy with their services.
All in all, you can definitely consider applying for Lendfair loans if you are looking for extra money.