Alternative to Lending Stream

If you have decided to look for a loan, it can be difficult to know where to start. There seem to be so many different loan companies around, so how do you know whether or not you’re getting a good deal?

For example, you may have come across Lending Stream, who offer loans of up to £1500, repayable over a period of 6 or 12 months. which initially sounds affordable. But be careful to read the small print.

If you want to repay over 6 months, the representative apr (rate of interest) is 1333%. This means that if you borrow £200 over 6 months you would need to make 6 repayments of £64.44 – a total of £386.61. As we are all aware, interest rates are currently rising fast. So it is more important than ever to check how much your loan repayments will be when taking out a loan, to make sure that you will be able to meet those repayments.

But what is the best alternative to Lending Stream?

At fair finance we offer loans of up to £1000 for new customers, repayable over a period between 6 and 12 months. you can repay your loan in either monthly or weekly instalments.

At Fair Finance we believe in giving our customers a fair deal, so we offer loans as cheaply as we are able to. We are open and transparent about all our costs so that you know upfront exactly how much your loan will cost.

You can use the slider above to enter the amount you want to borrow, and how long you think you will take to repay it. This will enable you to see how much your fair finance loan will cost, and whether it would be a good alternative to Lending Stream.

As you can see, the total cost of the loan is broken down into monthly repayments, interest, and a one-off administration fee. there is nothing else to pay – no hidden charges and no nasty surprises.

Fair Finance is also a good alternative to Lending Stream because we give you the opportunity to repay your loan early if you are able to. So if your circumstances change, you can repay before the end of your original repayment period. There is no additional charge for doing this. you may be worried about applying for a new loan because you have poor credit history. However, at fair finance we will still consider lending to you, as long as the loan repayments are affordable for you. This is another reason to consider us as an alternative to Lending Stream. Wherever you decide to apply for your loan, do make sure that the company – like fair finance – is fully regulated by the fca (financial conducts authority). This ensures that they are legally permitted to offer you a loan, and have to follow all the rules that apply to consumer credit firms in the UK.

We hope that we can help you with your financial needs, and provide a better alternative to Lending Stream.