Mr Lender @ www.mrlender.com
~ This company was previously excessive on pricing. This was a result of the admin and transfer fees. Now that the cap has been enforced, they have had to adapt. Over 30 days per £100 you now pay £24. The 3 month cost of £300 would now be £140.80.
~ There was originally a fixed monthly term. This changed in the later stages of 2014 to become 2 to 6 months. They have now re-added the option of a month and so the complete range is 1 to 6 months that provides plenty of repayment options.
~ The minimum cash sum is now £100 (rather than starting at £80).
~ Trading times have been slightly improved. During the working week they now close at 6pm (rather than 5.30pm). They still impressively trade 7/7.
Mr Lender is a brand of PDL Finance Ltd active at www.mrlender.com that launched back in 2009. This company was created by Adam Freeman, interestingly not too long after he had decided to not go ahead with an appearance on The Apprentice show. This story received plenty of media attention at the time after Alan Sugar had a pop at him for his quick exit. Anyway, to cover the product details, monthly loans have been available here for a long time, but they have upgraded to now offer instalment terms between 2 and 6 months. The funds range is £80 to £1000 (this has recently been increased from £500).
A Mr Lender login service is fitted to www.mrlender.com and this is fully secure. This company charges interest at £30 per £100, but on top of this there is a £7 admin fee. With funding there is a free transfer option and a fast one that attracts a £10 charge. Although the Mr Lender loans interest per month usually costs £30, there are discounts for reduced terms. This includes a 50% discount for 7 to 11 days and a 75% discount when the repayment falls within 4 to 6 days. For the instalment periods per £300 you would pay £197 over 3 months or £332 over 6 months.
These charges include the noted £17 fees, but they do actually reduce these from your cash funds. They do trade every day and so all applications should be dealt with quickly. From Monday to Friday they are open from 8am to 5.30pm with both weekend days being 8am to 3.30pm. This Essex-based firm does hold CCTA membership. Their service is popular, but the monthly price is high if same day cash is required due to the admin and FPS charges. As noted, discounts are made within the 11 day time frame, although this is based around when the customer is next being paid (you can’t just choose these shorter periods).
