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FAQ

What is a representative example of a Lending Stream loan?

A representative example is a financial concept that is designed to help you understand all of the costs and charges of taking out credit or a loan.

The below information shows a representative example of a 6 month loan with Lending Stream.

Representative Example

Annual Interest Rate: 292.0% (Fixed)

Total amount of credit: £200

Representative APR: 1272%

Duration of agreement: 6 months

Total amount payable: £391.68

Total charge of credit: £191.68


1st repayment: £46.40

2nd repayment: £88.00

3rd repayment: £78.40

4th repayment: £69.76

5th repayment: £59.84

6th repayment: £49.28


Our application process is simple. We provide an instant decision and let you know the full amount you are eligible to receive.

Representative 1272% APR

Am I eligible to apply for a Lending Stream loan?

To apply for a Lending Stream short-term loan you must be a UK resident, at least 18 years of age, be in regular employment with a monthly income of at least £400, and have a valid debit card and active bank account.

If you meet these requirements and want to know more about our process, please read our How It Works page.

Or you can get started with our online application and get an instant decision.

Representative 1272% APR

How do you make approval decisions?

To decide how much you can borrow, we use a sophisticated credit scoring system and affordability analysis to assess your ability to repay in a sustainable manner. If you've demonstrated good repayment behavior you can apply for higher loan amounts.

Our process is pretty simple, you apply for the loan, we analyze your personalize situation, and if approved you get the money. All the way through the process and once you have a loan with us, we work together for your success.

You can read more about that process on our How It Works page or you can get started with our loan application process.

Representative 1272% APR

What loan fees do you charge?

If you do not pay a Repayment Amount when it is due, we will apply the following charges:

  1. On the first occasion that a Repayment Amount due is unpaid on the relevant Payment Date, we will apply a default charge of up to £15; and
  2. On any further occasion that a Repayment Amount due is unpaid on the relevant Payment Date, if we did not charge you the full £15 default charge on the first occasion, we will apply a further charge that will result in combined default charges amounting to £15.

Other than that, we offer what is called no-fee loans. This means there is no application fee, no transaction fees, and no early repayment fees. We have no hidden fees at all.

If you have a loan with us and would like to see your payment schedule, you can log-in.Or, if you would like to learn more about our loans, go to our How It Works page.

Can I get another loan before I have paid off the one I have now?

You can apply for another short-term Lending Stream loan prior to paying off your current loan. From time to time we may even contact you to let you know that you can apply again. However, this doesn't mean you'll be approved.

By law, we can't guarantee approval of your short-term loan until the very moment your application is submitted to us for review. Even if you've had a Lending Stream loan before and repaid successfully, we're required to use the latest information available about you in order to make a loan decision. This is meant to ensure that we're always using the best available information to reduce the chances of putting you into a position of financial difficulty by approving a loan that you may not be able to repay. Additionally, we will not approve an additional loan if requested within a few days of your current pay date.

Even if you are in good standing with us, we will not approve more than six total loans with us. You can log in to your account to check on the status of your current loan(s) and apply for an additional loan if eligible.

Representative 1272% APR

Do I need a valid debit card to take out a loan?

Yes, the Lending Stream loan application requires a valid debit card with at least £1 in the account. In our loan agreement you give us permission to use your debit card to collect your loan payments automatically. If at any time you wish to revoke our right to collect payment automatically via your debit card, you may do so by contacting us.

If you have a valid debit card, you can begin the application process now.

Representative 1272% APR

Do I need a valid bank account to get a loan?

Yes, you need a bank account where we can deposit your funds if your Lending Stream loan is approved.

If you have a valid bank account, you can begin the application process now.

Representative 1272% APR

If I'm not approved for a loan, can I find out why my application was declined?

We consider many factors when deciding whether or not to approve your loan request. If information we receive from a credit reference agency is a factor in denying your application, we'll let you know the name of the credit reference agency by email, so you can check your credit file with them if you wish. Unfortunately, our Customer Service representatives don't have access to why a particular application is declined.

You can read more about that process on our How It Works page or you can get started with our loan application process.

Will I need to provide any documents with my online loan application?

We can usually make a decision to approve a Lending Stream short-term loan based on information you give us online; however under certain circumstances, we may ask you to verify some details by phone, email, or fax.

You will also need your debit card and a valid bank account.

Once my Lending Stream loan is approved, how long will it take to receive my money?

We know that many people are looking for a 1-hour loan or even 10-minute loan, so we've streamlined the Lending Stream online loan process to initiate the transfer of cash to your account within 4 minutes* once your application is approved.

However, the time that it takes for a cash loan to appear in your account will depend on your bank's policies and procedures. If it seems to be taking too long, please check with your bank first. Then contact us at info@lendingstream.co.uk or on 0845 351 1482#, 08:00 - 20:00, to check on the status of the transfer.

To start the process so you can get the cash you need, just fill out our online application and find out if you are approved.

Representative 1272% APR
What is a representative example of a Lending Stream loan?

A representative example is a specific way we inform you about the terms of our typical loan and in particular cost of credit in accordance with the Consumer Credit (Advertisements) Regulations 2010.

Representative example

Amount of each payment


Annual Interest Rate:

292%

1st repayment:

£46.40

Total amount of credit:

£200

2nd repayment:

£88.00

Representative APR:

1272%

3rd repayment:

£78.40

Duration of agreement:

6 months

4th repayment:

£69.76

Total amount payable:

£391.68

5th repayment:

£59.84

Total charge of credit:

£191.68

6th repayment:

£49.28

Representative example


Annual Interest Rate: 292%

Total amount of credit:£200

Representative APR:1272%

Duration of agreement:6 months

Total amount payable:£391.68

Total charge of credit:£191.68


Amount of each repayment


1st repayment:£46.40

2nd repayment:£88.00

3rd repayment:£78.40

4th repayment:£69.76

5th repayment:£59.84

6th repayment:£49.28

How much money can I borrow if I'm approved?

If this is the first time you're applying for a Lending Stream loan, you can apply for any amount from £50 to £800. If you've successfully opened a Lending Stream loan, currently or in the past, and your account is in good standing, you can apply for a loan up to £1500.

As you go through our simple application process, you choose the amount you need within the above limits. We will do a fast, personalised review of your situation (not just your credit) and provide you with an instant decision. This includes letting you know the full amount you specifically are eligible to receive.

Fill out the application or log in to your account now to find out how much cash you are eligible to receive as a loan.

Representative 1272% APR

Do you offer no fee loans?

A no fee loan is a financial term that generally refers to the absence of fees for applying for a loan.

At Lending Stream, we go a step further and offer short term loans that have no application fees, no transaction fees, and no early payment fees. We have no hidden fees at all. Our only loan fees are related to missed payments.

What is the total amount I'll pay for a Lending Stream loan?

A simple way to understand how the total cost of your Lending Stream loan works is to add the following:

The amount of cash you borrow

+ The interest we charge for the time you have the money

+ Any late fees and additional interest if you miss a payment

= The total cost of your Lending Stream loan

You may be able to lower the cost of your loan by repaying it early and reducing interest charges. We clearly spell out all of the costs of your loan up front, and Lending Stream charges no hidden fees. You can also look at a representative example.

If you know how much cash you need to borrow. Start by filling out our application.

Representative 1272% APR

What risks should I be aware of when I take out a loan?

If you take a Lending Stream loan because your finances are tight, an unexpected expense could make it difficult for you to repay your loan. Missed loan payments can result in late fees and additional loan interest charges that can make your loan more expensive than you originally planned.

We do everything we can to avoid putting you in this situation by carefully assessing your ability to repay a short-term loan. However, we can't anticipate everything about your financial situation when we decide whether or not to approve you for the loan. Carefully consider your ability to repay a loan before you apply. Review the details of the cost of a Lending Stream loan and be certain that you can fit loan payments into your budget. Also consider the possibility that you might run into other unexpected expenses that could make it difficult for you to make loan payments.Read more about How It Works.

Do you run a credit check and will that impact my credit score?

As a responsible lender, we do check your credit file as part of our loan affordability analysis. As one of the top direct online loan providers in the UK, we don't make "bad credit" loans. However, we do look at more than just your credit when we make our assessment. Our algorithm lets us make a personalised review of your unique situation, not just your credit.

Once you fill out our online application, we run the personalised review and provide an instant decision.

Representative 1272% APR

How can I contact you if I have a problem?

For general Lending Stream support, you may contact us by email at info@lendingstream.co.uk or by phone on 0203 564 7028#. Our call centre representatives are available 08:00 - 20:00 to assist you.


For information on how to file a complaint,click here.


If you are having difficulty repaying your credit line, or if you won't be able to make a payment on time, contact us immediately. We want to help. We will work with you to arrange an affordable alternative payment plan. If you don't let us know that you are having financial difficulties, we will continue collecting your next payment automatically. That could empty your account of money you need for essential living expenses and send your account into arrears, resulting in a late fee.


The Financial Conduct Authority recommends contacting the following not-for-profit organisations for free, confidential and impartial debt advice, or for details of where to get such advice in your area.


Money Advice Service


For free, unbiased and easy-to-access money tools, information and advice, visit www.moneyadviceservice.org.uk or phone 0300 500 5000 to speak to a Money Adviser.


Money Advice Scotland


If you live in Scotland, phone 0141 572 0237 or visit www.moneyadvicescotland.org.uk to find contact details for debt advice in your local area.


Advice NI - Debt Action NI service


If you live in Northern Ireland, phone 0800 917 4607, email debt@adviceni.net or visit www.debtaction-ni.net for debt advice.


AdviceUK


Member centres offer debt advice including specialist advice for minority communities and people with disabilities - visit www.adviceuk.org.uk or phone 0300 777 0107.


Christians Against Poverty (CAP)


For free debt advice in your home, check post code coverage at www.capuk.org then call 0800 328 0006.


Citizens Advice


For advice and information on debt and other topics, visit your local Citizens Advice Bureau (address in the phone book) or go to www.adviceguide.org.uk.


National Debtline


If you live in England, Wales or Scotland phone 0808 808 4000 or visit www.nationaldebtline.org for debt advice and information.


StepChange Debt Charity


For debt advice throughout the UK phone 0800 138 1111 or visit www.stepchange.org.


How can I register a complaint?


Your satisfaction is important to us. If you have a concern about our service or performance, we want to hear about it straightaway. Lending Stream complaint specialists are available to help you at complaints@lendingstream.co.uk and on 0203 564 7034#, 08:00 - 20:00, Monday to Friday. Or you can contact us any time through our Contact Us page.


We strive to resolve complaints as quickly as possible. We'll acknowledge your complaint within 2 business days of receiving it. It is always our goal to resolve the issue for you as quickly as possible, usually within 8 weeks. If we cannot resolve it within that time period, we will:

  • Tell you why we're having trouble resolving it.
  • Keep you updated on the status of your complaint.
  • Let you know when to expect to hear from us again.

We'll respond in writing within 14 days of the original complaint with:

  • Our understanding of the situation at hand.
  • A proposal to resolve the issue.
  • Options available to you if you're not satisfied with our initial response.

If you've gone through our entire complaints process and you're still not satisfied with our final response or if you have not received a final response from us within 8 weeks of making your complaint, the Financial Ombudsman Service may be able to help - visit www.financial-ombudsman.org.uk or phone 0300 123 9123# or 0800 023 4567# FREE.


You may also submit a complaint to the European Commission Online Dispute Resolution portal located at http://ec.europa.eu/consumers/odr/index_en.htm.


Our full complaints handling procedure can be downloaded here.


Is there any way to know before I apply if my loan application will be approved?

Unfortunately, we can't guarantee approval of your short-term loan until the very moment that your application is submitted to us for review. Even if you've had a Lending Stream loan before and successfully repaid it, we're required to use the latest information available about you in order to make a loan decision. This is meant to ensure that we're always using the best available information to reduce the chances of putting you into a position of financial difficulty by approving a loan that you may not be able to repay.

The good news is that we offer no-fee loans, which means you won't be charged any fees for applying, even if you aren't approved.

If you just want to get started, you can go straight to our loan application page.

You can read about our basic loan requirements to see if you quality for basic eligibility and you can read about our approval process on our How It Works page.If you just want to get started, you can go straight to our loan application page.

Representative 1272% APR

My information isn't accurate. What do I do?


You can update your personal information by logging into your online account. Click on "Manage account information" to update your information, or you can contact us at info@lendingstream.co.uk or on the Lending Stream contact number 0203 564 7028#. Unfortunately, we do not allow customers to make a change to their first name, last name or birthdate.

How do I continue my online loan application if I get an error message?


Please contact us at info@lendingstream.co.uk or on the Lending Stream contact number 0203 564 7028# and we'll be happy to help you. If you can email us a screenshot of the error message it will help us solve the problem you're having.

How can I check if my payments are up-to-date?

You can view the status of your most recent Lending Stream payment and your payment history in your online account. Once you log in, you can use the tabs at the top of the page to review the status of your loan(s).

How long will it take for a payment to be credited to my account?

The payment is credited to your account immediately, but it may take as long as 24 hours to view the payment details in your Account Section.

How do I change my debit card details?

You can log in to your Lending Stream online account to update your debit card details or to make a one-time payment with a different debit card. You may also call us on 0203 564 7028# to change your debit card details permanently. Do not send your debit card details by email, as this risks identity theft.

Can I change my loan repayment dates?

You can request a change to your loan repayment dates by email to payments@lendingstream.co.uk or by calling the Lending Stream contact number 0203 564 7028# with the details of your existing and new repayment dates.

How does continuous payment authority work?

Continuous Payment Authority, or CPA, is permission you give Lending Stream when you apply for a loan to collect your payments automatically from the bank account that's linked to your debit card. Most people find it easier and more reliable to set up automatic debit card payments. It can help you avoid missed payments.

You have the right to cancel CPA at any time; however, if you do you'll need to arrange another way to make payments, such as self-service payments through your online Lending Stream account, a standing bank order, or posting a cheque. If you have an open loan with us, please contact us immediately if you cancel CPA and we'll help you arrange another way to make your payments.

What happens if I can't pay back the loan?

As a responsible lender, we do everything we can to avoid putting you in that situation, by carefully assessing your ability to repay a Lending Stream loan when you apply. However, we understand that your financial situation can unexpectedly change for the worse, making it difficult for you to repay your loan. In that case, we'll work with you to arrange an affordable repayment plan.

If you are considering whether a Lending Stream loan is right for you, you can read more about How It Works.

If you have a loan with us and need to talk to us about an affordable repayment plan, contact us. You can also choose to contact free debt advice providers.

What is the status of my loan?

You'll find almost everything about your Lending Stream loan in your online account.

If your loan status is "pending", because you recently applied for a new loan, we may need a bit more information to finalise the information in your account, in which case you can call us on the Lending Stream contact number 0203 564 7028#.

How do I check my outstanding balance?

You can check the balance on your Lending Stream credit line by logging in to your online account. You can view the remaining balance and if you click on 'Make a Payment' you can also see today's payoff amount.

Representative

1272% APR

Learn more about the cost of your loan, default charges, risks and prepayments.

Responsible Lending: Carefully consider whether a loan is right for your individual financial situation. Borrowing of this type is an expensive form of credit that may be appropriate for short term financial needs but which is not appropriate for longer term borrowing or if you are in financial difficulty. All loan application are subject to status, terms and conditions and to satisfactory passge of checks on credit worthiness and affordability.

We don't offer loans under 60 days. Early prepayment options that are available are not associated with any fees or cost. Maximum APR of 1698.1%. Given a Representative APR is 1272%, if you borrow £200 over 6 months at 292.0% p.a. (fixed) your first repayment will be £46.40 followed by £88.00, £78.40, £69.76, £59.84 and £49.28 the following months. You will repay £391.68 in total, there are no additional fees.