Who are Lending Stream?

Lending Stream was launched in 2008, and aims to plug the gap between Payday Loans and Short-Term Bank Lending. Their APR’s are as high as most other Payday lenders, and it’s an open question as to whether this is completely fair. There are a number of complaints about this on the internet. But you could always convert to settling up with them on your next payday.

The maximum loan period is six months, with opportunities to borrow for five or four months too. Lending Stream’s take on life is that they are there to help their customers navigate past their budgeting blind spots. Despite their published APR of 3.043%, there seems to be no shortage of takers on their offer.

Why Lending Stream?

Their website is not short of reasons. They pitch themselves as a responsible lender who believes in being fair to both sides, although they do expect their customers to borrow with their brains turned on.  They rely on credit bureaus for input, although those … with a less-than-perfect’ credit are still welcome to apply.

We couldn’t find much about the history of the Lending Stream on their website or in independent reviews. So, suffice to say that they popped out from somewhere in 2008, and have offices in Edgeware, Middlesex. We’re a great believer in doing business transparently. Perhaps these guys should open up a bit on where they came from?

Their approval criteria are more definite than most. You need to be a UK resident (no time restriction), not be using your bank overdraft facility, and be earning at least £750 a month. In return, they’ll lend you money, and according to them at the lowest APR around. So far so good – but what do their customers think about them?

The Other Side

Lending Stream’s charges look pretty onerous. If you borrow £100 you get to pay costs of £20, £25 or £30 per month, depending on your credit record. That means your £100 could cost you £180 over six months PLUS you have to pay the loan amount back too. Perhaps it’s just as well they request … customers to be careful while making a borrowing decision on their website.

We found a few disgruntled comments on the internet. These were typically from people who considered they got stung by being penalised for not paying back, or from people who didn’t read things properly and thought they were taking out a Payday Loan. From what we’ve heard, Lending Stream’s quite reasonable about accommodating repayment problems.

Breaking News

Before you rush off into the arms of Lending Stream or another short-term lender, why not check out the latest competition on the block? It’s called The Lending Well, and they’re making some really great offers right now. Don’t lose out to fast talk from the others – make sure you choose the very best of deals.