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Lending Stream

About the lender (A member of our panel)
Lending Stream was established in 2008 and provides online short term loans for a period of six months. The business is regulated by the Financial Conduct Authority and committed to the various industry standards and codes of practice. The company uses the power of analytics to help people to get credit and was founded by the same brains who developed a fraud detection system for credit cards. Lending Stream credit products are designed to use the power of technology to provide credit when and where it’s needed.

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Lending Stream Loans

Lending Stream uses its sophisticated analytics and credit scoring system to work out how much customers can borrow in a way that will still make the loan affordable to repay. Customers who have borrowed from Lending Stream before and shown that they can manage repayments are often eligible to borrow higher amounts. The money is borrowed for around a period of six months and the amount will depend on the results of the credit scoring and analytics – the maximum that you can borrow is £1,500.

Repayment with Lending Stream

The term of Lending Stream loans is six months and repayments are made on a monthly basis. Interest is paid on the amount that is borrowed on a monthly basis so each monthly payment will include a part payment of the loan and a part payment of interest. Repayments are taken using a Continuous Payment Authority, which is where the payments are automatically withdrawn from your bank account so as to avoid any issues with late payments or missing payments altogether. The repayment amounts, the repayment dates and the number of attempts that can be made to take the repayment are all clearly explained in the loan agreement so there are no shocks or surprises. Prepaying the loan early can save money on interest with Lending Stream.

Lending Stream no hidden fees

Lending Stream is very up front about the fees that it charges in connection with its loans. If a payment isn’t made on the due date then there is a fee of £12 and if an account remains in default 34 days after the due date then there is a fee of £10 to pay. You can avoid paying fees like this by making sure that you have enough money in your bank account to meet the repayments when they are due.

Applying for Lending Stream loans

When you make an application with us it will automatically be shown to Lending Stream to see if they accept your loan request. You need to be at least 18 years old to apply for short term loans and a UK resident, with a UK bank account in full employment. There may be some other information required, such as data on your income and employment, in order to help Lending Stream make its decision on whether or not you’re right for its loans. Lending Stream is a fast lender in terms of making decisions on applications and whether or not they are eligible. If your application is accepted then Lending Stream can transfer the money that you want to borrow within a matter of minutes.

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