FAQs

Frequently Asked Questions

How Can I Apply For A Loan?

To apply for a loan through one of our sites, all you need to do is fill out our online application form with your details. Once this has been completed, you will receive an instant decision as to whether you have been accepted by any of the lenders on our panel.

If successful, you will be redirected to their website where full terms and conditions, repayment amounts and interest will be disclosed to you. If you are unsuccessful, you may be accepted for an alternative solution product such as a credit reporting facility. You are not obligated to accept any loans or offers, and can decline the offers by simply leaving the page.

We would also recommend that you read our partner's terms and conditions before completing any applications. Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk

How Much Can I Apply For?

As a credit broker, our panel of lenders typically offer between £100 to £10.000. This can vary depending on the lender's criteria and your eligibility.

How Long Can I Take A Loan Out For?

Depending on your loan requirements, lenders usually offer between 3 months to 3 years. 

Am I Eligible To Apply For A Loan?

To be eligible for a loan you will need to: 

Be a UK Resident 
Be over 18 years old 
Be in permanent employment, receiving a pension or disability benefit/living allowance 
Have a bank account 
Meet the lender's criteria and credit affordability assessment

Do You Use Credit Scoring or Credit Reference Agencies?

Our lenders may carry out a soft search on your credit file to match you with the most suitable loan, and they may also carry out a soft search to assess your eligibility for the product you are applying for. These searches will only be visible to you and they will not affect your credit rating.

When Will The Money Arrive In My Account?

Some lenders will transfer the money into your bank account within the hour, however, this depends on the lender that you have decided to go with, as well as the amount you have requested. Full terms will be explained when you are directed to a provider.

What Can I Use The Loan For?

Typically loan providers do not have strict rules on what you can use the loan for. This is to your discretion. If there are any stipulations, these will be outlined by the provider once you have been directed towards them. 

We do however encourage applicants to think sensibly about what the loan is used for. In the event that you are unsure if a loan is the best option for you, free advice can be found at: https://www.moneyhelper.org.uk/en

Can I Use A Loan To Help Pay Off Debt?

A loan may be used to pay off other forms of debt, however we strongly advise our clients to consider their circumstances carefully, and we encourage our clients to think about the sustainability of their financial situation.

If for any reason you feel further advice would be of help, free advice can be obtained from: https://www.moneyhelper.org.uk/en.

What If I Change My Mind?

You can withdraw within 14 days of you signing the loan agreement by contacting the lender directly by email or telephone. If you withdraw from the agreement, you will be required to repay to the lender the credit, and any accrued interest from the date the credit was provided to the date of repaying it, without delay and in any event within 30 days of the day after the day that you gave notice of your withdrawal.

Can I Apply For Multiple Loans?

It is possible to apply for multiple loans. We do however encourage customers to focus on one loan at a time in order to have greater control over your finances. 

In the event that people are considering multiple or additional loans to combat debt, these alternative options may be of use: 

1) Debt Consolidation loans - https://www.moneyhelper.org.uk/en/money-troubles/dealing-with-debt/debt-consolidation-loans 

2) Alternate debt management options - https://www.moneyhelper.org.uk/en/money-troubles/dealing-with-debt/options-for-clearing-your-debts-england-and-wales?source=mas# 

Is It Possible To Pay Off A Loan Early ?

Yes, you can. Providers must offer the option of paying off a loan early, this includes both full payment and partial payments. Some providers may have early repayment charges, however, these will always be explained from the offset when making an application. 

How Will I Be Contacted?

Once you have filled in the form, you will receive an instant decision from loan providers or alternative products on our panel. You will receive confirmation of your results via email and/or SMS. If you do decide to go ahead with an application for a product, the provider may have their own criteria for contacting you, however, this will always be explained during the process. 

We may infrequently provide marketing and advertisements to the details you have supplied, however, if this is not desired, you may opt out of marketing during the application process. You may also do this at any later point by using the Opt-Out Page on the website. 

You are also welcome to request to be opted out by letting us know at:  

Customer Service Department 

by email: compliance@tfli.us or

By Post:

TFLI Limited
First Floor Beechwood Court 
Springwood Way
Tytherington Business Park
Macclesfield
Cheshire 
SK10 2XG

By Telephone: 01625 32 25 55 

How To Make A Complaint?

If you are unhappy with the service you have received, you can make a complaint by contacting us as follows:

By Post:

Complaints Manager
TFLI Limited
First Floor Beechwood Court 
Springwood Way
Tytherington Business Park
Macclesfield
Cheshire 
SK10 2XG

By Telephone: 01625 32 25 55 

By Email: email us compliance@tfli.us 

What Is Representative APR?

You might see the phrase "representative APR" used on lenders' sites. This simply means it's the rate that most customers (that is, more than half) will be offered, although not everybody will get exactly the same rate. You can use the representative APR as a general guide to how competitive a lender is.  

The lower the APR of your loan, the less you're paying to borrow.

Who Is On Your Panel of Lenders?

Our panel of lenders may change periodically. This is depending on which lenders are currently taking clients on, as a result of our service. 

If you wish to see which providers are currently on our panel, this can be seen on the privacy page of this website under section 9. "Who Do We Share Your Personal Information With?"

Is My Personal Information Safe?

Security is always a priority when handling our clients' information. Our websites are encrypted and any information received is held in a protected database. 

For more information regarding this, please see the privacy policy, section 12. "How Secure Is Our Site And What Steps Do We Take To Keep Your Personal Information Safe?"

How much do you charge?

We are a credit broker, not a direct lender and therefore the service that we provide is to try and match your details against the acceptance criteria of the lenders on our panel, who each have their own acceptance criteria. 

Commission is paid to us directly by a lender and is dependent on the outcome of a customer's loan application, therefore our customers do not pay any costs directly to us.

How am I protected?

We are a member of the Consumer Credit Trade Association (CCTA) with an aim to provide a transparent, professional and helpful service. We also work with providers that have appropriate regulations attached to them, such as the Financial Conduct Authority (FCA) or are registered with the Information Commissioners Office (ICO).  

If for any reason a client finds themselves unsatisfied with the service provided, they can contact our compliance department at: complaints@tfli.us, where we will be happy to assist further. 

In the event that a client still finds themselves unsatisfied, they can contact the Financial Ombudsman Service at: 

Financial Ombudsman Service
Exchange Tower
London
E14 9SR

Telephone: 

0800 023 4567

The phone lines are open between 8am and 5pm, Monday to Friday.

Visit the Web site:  https://www.financial-ombudsman.org.uk/ 

    
Or Email: complaint.info@financial-ombudsman.org.uk

Information regarding the service can be found on the Financial Ombudsman website:

http://www.financial-ombudsman.org.uk/publications/consumer-leaflet.htm

What happens if I miss a loan repayment?

This will vary depending on which provider you have decided to go with, however, typically missed payments will result in a missed payment fee and/or influencing your credit score. The provider that you have chosen should always disclose their terms before you have signed into an agreement. 

If you are unfortunate enough to miss several payments, the loan provider will likely issue a default notice, advising what could happen due to the missing payments and what steps you can take next. 

If at any point you feel you need advice regarding missing payments, you are encouraged to contact the loan provider as soon as possible, so that they can provide the best advice. 

Alternatively, advice regarding missing payments can be found at: 

Money Helper (Hyperlinked to:https://www.moneyhelper.org.uk/en/everyday-money/types-of-credit/payday-loans-what-you-need-to-know

Or for impartial advice regarding debt management visit: 

https://www.citizensadvice.org.uk/ 
https://www.nationaldebtline.org/ 
https://www.stepchange.org/