12 Month Lenders +

Ladder Loans @ www.ladderloans.co.uk

Ladder Loans (LadderLoans) is a brand from Inventive Finance Ltd that looks to have launched at www.ladderloans.co.uk back in 2011. From digging further into Inventive Finance I noticed that they are listed as being part of the Dollar Financial Group (known today as DFC Global Corp). They are a big name in the industry, owning Payday Express, Payday UK and The Money Shop stores. It may be the case that DFC have witnessed the great success that Pounds to Pocket has received and they want a piece of the action. PTP are of course part of Cash America International Inc (well known for QuickQuid). The Ladder Loans in question can be taken over 6, 12 or 18 months and the available sums range from £500 to £1500.

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Logbook Loans @ www.logbookloans.co.uk

Logbook Loans (LogbookLoans) is the market leading lender within the logbook loan niche. They are homed at www.logbookloans.co.uk that was initially setup in 1999. The company that owned this brand of course went into administration with a buy out following from Hermes Property Services Ltd who control the site today. Despite the change in management here, they have still maintained their prominence (although they have looked to have recently slipped to their rivals). At Logbook Loans you can apply for £400 to £5000 online. A large sum of £50,000 is available though with all figures over £5000 having to be called through to them. The minimum term in place is 12 months with the maximum term being 48 months. This company is a member of the CCTA trade association.

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Welcome Finance @ www.wfs.co.uk

Welcome Finance (WelcomeFinance) was one of the most well known bad credit personal loan lenders in the UK that is no longer active. They are homed at www.wfs.co.uk that was initially registered back in the year 1997. Welcome Financial Services Ltd is owned by Cattles Plc and still runs the Shopacheck doorstep loan brand. Welcome Finance loans came to an end in 2009 when they became bankrupt and according to a BBC article had debts at the time that outweighed their assets by over £1 billion. There is currently a notice on their site regarding Welcome Loans UK who trade at www.welcomeloansuk.com. This notice makes it clear that they are not associated with them and that they have tried to contact them in order for them to clarify this themselves.

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TFS Loans @ www.tfsloans.co.uk

TFS Loans (TFSLoans) arises from The Finance Store Ltd and they provide guarantor loans today at www.tfsloans.co.uk. This lender that is based in Leigh on Sea (in Essex) offers between £1000 and a large £7500. The available term range here sits between 2 years and 6 years (unfortunately no 12 month term). A £1000 loan over 24 months would require a repayment of £1630.80 (63.08%). This is more expensive than the rate provided by Amigo Loans (previously FLM Loans) and Guarantor Loans Online and it may come with additional broker fees as well. They quote a fixed rate of 48.6% APR, but from looking at their cost breakdowns these costs actually stood in the 60s. One of their main features is the maximum £7500 figure, since their competitors mostly restrict at £5000.

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Guarantor Loans Online @ www.guarantorloansonline.co.uk

Guarantor Loans Online (GuarantorLoansOnline) is a direct guarantor loan lender operating at www.guarantorloansonline.co.uk. This brand was launched in 2010 and arises from UK Credit Ltd who are based in Norwich. Despite still relatively being new to the scene, Guarantor Loans Online does stand as the main competitor to Amigo Loans (previously FLM Loans). They currently offer between £1000 and £5000 with the terms ranging from 12 to 60 months. They have a fixed APR charge in place of 47.9% APR that has recently been trimmed down making GLO now the cheapest guarantor lender. This is a little lower than Amigo's 49.9% rate that is also a variable rate. A repayment of £1228.44 would be required on a £1000 loan taken over 12 months (22.84%).

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Quid @ www.quid.co.uk

Quid is a 12 month loan lender operating at www.quid.co.uk that looks to have been launched recently in 2012. This brand arises from Think Finance (UK) Ltd who also run the 1 Month Loan lender (now moved to become Sunny). Quid is a generic term making it difficult to determine the popularity of this company in its early days, with most of the searches being conducted as Quid.co.uk. Think Finance look to be following the trend set by Pounds to Pocket with this extended 12 month loan period. You would expect higher cash amounts to be offered by Quid though, but they stick to £100 to £500 for new customers. £1200 was previously noted on their APR example, but they use a new figure now. I assume this is still available to existing customers.

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Amigo Loans @ www.amigoloans.co.uk

Amigo Loans (AmigoLoans) today stands as the most popular guarantor loan lender. Amigo Loans via www.amigoloans.co.uk is of course a re-brand of FLM Loans where the "guarantor" brainstorm began in 2004 (although their domain was launched in 2005). This is a company belonging to The Richmond Group with FLM Quick also belonging to them that has been covered in an earlier posting here. FLM Quick was (now closed) a miniature version of Amigo Loans with much larger loans being available here between £500 and £5000. The available terms depend on the amount of cash funded, but the full range is from 12 months to a maximum of 60 months. The interest will be 49.9% APR that is a variable rate. A £1000 loan for 12 months would require a repayment of £1236.72.

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Pounds to Pocket @ www.poundstopocket.co.uk

Pounds to Pocket (PoundstoPocket) is a 12 month loan lender that launched in 2010. This brand arises from CashEuroNet UK LLC that is part of Cash America International Inc. This American finance group has already enjoyed great success here in the UK via their QuickQuid payday loan brand. Pounds to Pocket are headed locally in London and they operate via the address of www.poundstopocket.co.uk. Despite only surfacing in 2010, this has already become a very popular company that has a great deal to do with their frequent TV ads. Pounds to Pocket have in place a 12 month term that spreads out the larger cash sums that are available here. These figures range from £200 to £2000. You can repay early at any time to make savings.

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Everyday Loans @ www.everyday-loans.co.uk

Everyday Loans (EverydayLoans) has become a popular unsecured personal loan provider to those with bad credit. Everyday Loans Ltd is part of Secure Trust Bank PLC with this company being accessible via www.everyday-loans.co.uk. They launched in 2006 with there being two main listed locations of Marlow and Solihull, although you will find a local branch in most cities and major towns across the UK. Whilst modern lenders such as Pounds to Pocket have devised entirely online operations, Everyday Loans is still more aligned with the high street. Applications are taken online, but the loan will have to be completed at a branch with required forms including bank statements and your driving licence, passport etc. These extra measures are in relation to the large available funds.

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