| Representative APR | Amount | Term | Type |
|---|---|---|---|
| 99.9–1333.0% | £50–£1.5k | 3–6 mo | personal |
Best For
Individuals with low credit scores needing immediate cash for emergencies.
Individuals with low credit scores who require quick access to small loans for emergencies.
Lending Stream provides short-term personal loans between £50 and £1,500 with representative APRs ranging from 99.9% to 1333.0%. Approval is typically completed in minutes.
Pros & Cons
Watch Out
The APR can reach as high as 1333%, resulting in high overall repayment amounts.
Full Review
The application process is and quick, with approvals typically within minutes. Lending Stream caters to those who may not qualify for traditional loans, but the costs are steep. For example, borrowing £300 over six months can result in total repayments of £578.36, equating to a 1271% APR.
Customer service has received mixed reviews, with some users reporting difficulty in communication. The lack of early repayment fees is a positive aspect, allowing borrowers some flexibility. However, it's that not all applications will be approved, and an applicant's credit history plays a significant role in the decision-making process.
For those in urgent need of funds, Lending Stream could be a quick solution. Yet, borrowers should be mindful of the substantial interest rates, which could lead to a cycle of debt if not managed properly. It's advisable to carefully consider whether the repayment terms align with your financial situation before proceeding.
What Borrowers Say
Borrowers appreciate the quick approval but are often concerned about the high repayment costs associated with the loans.
