118 118 Money Loans Alternative
Planning to borrow money from 118 118 Money? Consider Lending Stream instead! We offer small loans between £50 and £1500, to be repaid within 6 to 12 months. If approved, we'll send the cash to your bank in 90 seconds.
Representative Example: Given a Representative APR of 1333%, if you borrow £200 over 6 months at 292.0% p.a. (fixed), you would owe 6 equal repayments of £64.44. You will repay £386.61 in total.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk.
Representative Example: Given a Representative APR of 1333%, if you borrow £200 over 6 months at 292.0% p.a. (fixed), you would owe 6 equal repayments of £64.44. You will repay £386.61 in total.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk.
Why choose Lending Stream as 118 118 Money Alternative?
Fast
Cash sent to your bank in under 90 seconds, once approved.
Convenient
24/7 simple & online application. Instant decision. Direct lender since 2008.
Affordable
Repay in 6 monthly repayments. Pay early with no extra fees and save on interest.
Warning: Late repayment can cause you serious money
problems. For help go to moneyhelper.org.uk.
Who are 118 118 Money?
118 118 Money is a UK-based financial services company that offers personal loans to individuals, even to those with less-than-perfect credit scores. Established in 2013, 118 118 Money aims to provide responsible access to credit for customers in need of financial assistance.
118 118 Money offer loans and credit cards. Their unsecured personal loans range between £1,000 to £5,000, depending on the creditworthiness and financial situation of the borrower. Loan repayment periods are between 1 to 3 years.
If you decide to pay some or all of your loan early, they are entitled to charge between 28-58 days of interest, depending on the length of your loan. You can use their online eligibility checker to find out if you'll be accepted and it won't affect your credit score.
Does 118 118 Money offer loans only?
118 118 Money does not only offer loans; they provide a range of financial solutions to meet diverse customer needs. In addition to a personal loan, 118 118 Money also offers credit cards. 118 118 Money credit card gives credit at Interest rate: 49.0% pa (variable) and Representative 49.0% APR (variable). However, it's important to know that they charge fees for late or missed repayments as well as fees for cash withdrawals. The fees are £12 for late or missed repayments and 5% cash withdrawal fees.
Lending Stream is a better and a fee-free alternative. We don't charge any fees for taking out short term loans with us. Plus, there are no transaction or early repayment fees either.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk.
Are 118 118 Money regulated and authorised?
118 118 Money is a trading name of Madison CF UK Limited. Madison CF UK Limited is authorised and regulated by the Financial Conduct Authority (Firm Reference Number 741774).
What type of loans does 118 118 Money lend?
They offer unsecured personal loans from £1,000 to £5,000 as well as credit cards. You can apply for either product online by completing an application form. They also consider applications from those with a less-than-perfect credit history.
If you are looking to borrow a smaller amount, Lending Stream could help. At Lending Stream, we offer short term loans from £50 - £1500 (up to £800 for first-time borrowers), with a repayment period of 6 months.
What can 118 118 loans be used for?
118 118 loans can be used for a variety of purposes and personal circumstances, including:
- Debt consolidation
- Home improvements
- Car purchase
- Unexpected expenses
- Special occasions
If you are facing any unexpected expenses such as medical bills, home repairs, etc., then you can also use a Lending Stream loan to cover such expenses. But unlike 118 118 Money, we allow you to apply for small amount loans with a short payment period.
What APR and loan terms are offered by 118 118 Money Loans?
118 118 Money has an online calculator to give you an idea of how much you could borrow if you’re thinking about taking out a loan. The calculator is designed to give you an estimate of your monthly repayments based on the amount you wish to borrow and their representative 49.0% APR (variable). The actual APR you receive will depend on the information provided in your application.
If you apply for their credit card, you'll get a guaranteed credit limit and a representative APR of 49.0% (variable). Do note, that they charge fees for late or missed repayments as well as fees for cash withdrawals too. The fees are £12 for late or missed repayments and 5% cash withdrawal fees.
How is Lending Stream different from (or better than) 118 118 Money loans?
| Lending Stream | 118 118 Money |
|---|---|
| With Lending Stream, you can apply for a short-term loan from as low as £50. | The minimum loan amount is £1,000. If you are looking to borrow a smaller amount, 118 118 Money may not be ideal. |
| Lending Stream allows you to pay off your loan early without any early repayment fees. | If you wish to pay off your loan early, you have to ask 118 118 Money for an early settlement quotation. They can charge up to 28 days of interest if the loan is for 12 months or up to 58 days of interest if the loan is for more than 12 months. |
| You can apply for another loan even if you haven't paid off the first one you got from Lending Stream. However, this decision will be subject to a review of your current finances and credit report. | 118 118 Money does not allow you to borrow an additional loan before you have paid off your existing one. |
| At Lending Stream, we transfer the loan amount to your bank as fast as within 90 seconds once you get approved for a loan. | Once you get approved for a loan, you'll get the funds in your bank account within 24 hours. |
How can I check my eligibility for a loan with Lending Stream?
If you would like to apply for a Lending Stream loan, you must meet the following eligibility criteria:
- Be a UK resident
- Be at least 18 years old
- Have a valid debit card
- Have an active UK bank account
- Be in regular employment with a monthly income of at least £400
During the loan application, we may ask for income proof. We believe in treating all customers fairly and do this to ensure you can afford the repayments.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk.
How can I apply online with Lending Stream?
To apply for a loan with us, you need to fill out our online application form and provide us with the following information:
- A few personal details
- The amount you want to borrow
- Your employment, salary, expenses, and banking details
Once we receive your loan application, we'll run an affordability and credit check. As a responsible lender, we do this to ensure that you can afford the repayments of your loan agreement. If you're approved, we'll send you the approved loan amount to your bank in 90 seconds.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk.
Contact us - Lending Stream
If you already have an account with us, you can log in and chat with us through there. Otherwise, you can get in touch on our contact us page. If you prefer you can give us a call on 0203 808 4440#. We’re open from 9am to 6pm Monday to Fridays, and 9am to 1pm Saturdays.
FAQs - 118 118 Money loans
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How long does it take to get a loan from 118 118 Money?
118 118 Money aims to review applications as quickly as possible and, most of the time, can provide a decision within 1 hour. If your loan is approved, you will get the funds to your bank account within 24 hours.
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Can you borrow more from 118 118 Money?
You cannot have more than one loan at a time. But they can process another loan application once you've fully repaid the first loan.
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What is 118 118 Money card?
118 118 Money card is a credit card with a credit limit of up to £1,200. The credit card also has a guaranteed APR when it comes to your repayments. Please note that they charge fees for late or missing payments as well as fees for cash withdrawals.
We don't offer loans under 60 days. We offer 6 or 12 month loans. The maximum repayment period is 12 months. Maximum APR 1721%.
Representative Example: Given a Representative APR of 1333%, if you borrow £200 over 6 months at 292.0% p.a. (fixed), you would owe 6 equal repayments of £64.44. You will repay £386.61 in total.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk