Lending Stream (lendingstream.co.uk) is an epitome of perfect Payday loan service. They offer unique services which you can take advantage of, if you ever happen to hit a bit of a cash crunch. The maximum limit is capped at £1,500, and the maximum time period allowed by them is 6 months.
However, do know that their way of processing the requests and approach is slightly different. Bad credit score might get your application rejected in others, but on this platform that is not the only thing they consider. Read our impartial review to find out everything you need to know about this service before indulging with them.
Lending Stream Loans
Most of the firms which offer financial services have to be regulated in the first place. We are not saying that all the unregulated entities are blatant scams, but most of them are. Lending Stream is a trading name of Gain Credit LLC.
This lender is regulated by FCA, with license number 689378, which means they are an authorised lender. On their website you can find every detail regarding their registration and licenses. Here is a rundown of the ways you can reach them.
Contact Address: Lending Stream, Wisteria Grange Barn, Pikes End, Pinner, London, United Kingdom, HA5 2EX. Registered Address: 251 Little Falls Drive, Wilmington, DE 19808, United States.
Lending Stream Complaints
If you ever have any complaints about this firm, then you can contact the firm directly through their contact form or take the help of Financial Ombudsman service. You will most likely get an answer from either of them within weeks. Note that, you have to contact the Financial Ombudsman within 6 months of receiving a final response from the company.
How does Lending Stream Work?
This service requires you to provide them with the document regarding your payslip. The exact metrics they employ for measuring the eligibility of a candidate is not disclosed. However, a crucial part of their selection process is based on your credit score. If you have bad scores because of some reason which falls under the category of acceptable offenses like late payments, mis-match of details due to some omission error, then do not worry about them.
Unlike most of the firms, this service does consider the entire scenario. As a result, your application will certainly not get rejected based on a single premise. Once our application gets processed, the mount will be credited to your account within minutes. The dashboard provided on their website gives you a clear idea about the installments you have to make.
Moreover, it is very user-friendly and straightforward in their approach. The APR is around 1,333%, but it is dependent upon the time you take to pay back the loan. Whenever a firm gains popularity, it leaves behind a lot of testimonials on the web. However, do not come to any sort of conclusion based only on that.
The conditions you have to meet in order to get the loan are pretty standard. First of all, the applicant must be a UK resident and has to be at least 18 year old. The account linked with the debit card must be a salary account. Lastly, you have to provide evidence like bank statements to prove that you get consistent income.
Lending Stream Review Conclusion
Lending Stream is a legitimate firm which has a credible history. There are a lot of comments about their service online and the kind of transparency they embrace is a delight.
The interest rate is on the higher side, but that is the case with every payday loan sector. If you find yourself in a scenario, wherein urgent cash in necessary, then this firm will definitely help you out, provided you produce the required documents. Note that early repayment fees does not carry any fees, but late payment fees carries a fee of £15.