Lending Stream Loans provides short-term loans and aims to serve as an alternative to the traditional payday loan. The application process is designed to be both quick, and personalised. This allows Lending Stream to adapt to the needs of different borrowers, including those looking for a same-day loan, or have some missteps in their credit history.
Loans are available in amounts ranging from £50 to £800 for new borrowers while returning borrowers may be eligible for up to £1,500. Repayment is generally based on a six month time period, allowing borrowers to repay the funds in instalments rather than a single lump sum. Flexible repayment options allow borrowers to make payments early.
In order to be eligible to apply, a potential borrower must be a resident of the United Kingdom, at least 18 years of age, have regular employment, earn an income of at least £400 a month, and have an active bank account with an associated debit card. All borrowers will go through required credit and affordability checks to ensure they can reasonably be expected to repay the loan based on their current situation.
There are no upfront fees, no application fees, and no early repayment fees. Borrowers who meet all of the repayment requirements will only be responsible for repaying the principal and the associated interest charges.
- Age Requirement
- Debit Card
- Credit Checks
- Other Requirements
- Check Website
- Same Day Transfer Available
- Loan Value Available
- £50 to £800
- Representative APR
- Loan Length
- 1 Month to 6 Months
- FCA Registration Number
- Loan Example
- The Representative APR is 967% APR so if you borrow £200 over 6 months at 255.5% p.a. (fixed) your first repayment will be £22.40 followed by £82.00, £72.48, £67.72, £56.80 and £48.68 the following months. You will repay £350.08 in total
Lending Stream Loans allows borrowers to select an amount based on approved limits, and each application is examined individually to determine overall eligibility. The application process has been simplified to allow faster completion and processing. Many lending decisions are reached almost instantly, allowing the process to move forward quickly for borrowers that are approved. In order to meet the demands of borrowers, some loans can be funded in as little as four minutes once the application has been approved.
Unlike many other lenders, Lending Stream Loans may allow certain borrowers to apply for a new loan prior to their current one being full satisfied. All subsequent loan requests require additional approval in order to ensure the affordability of the loan based on the borrower’s current circumstances.
Most payments are made through continuous payment authority, though borrowers may choose to make payments through the online portal, standing bank order, or by posting a cheque. Payments are applied immediately, though it may take up to 24 hours for the information to be displayed within the borrowers online account information. The payment method can also be updated online. Extra payments can also be completed online. Alternate repayment dates can be requested directly through support.