Castle Finance Loans

Are you considering a loan with Castle Finance Direct? Or perhaps you already have one, and you’re looking for further information about the company. Either way, we’ve compiled the most important, in-depth information about Castle Finance Direct for you in this loan guide.

About – Who are Castle Finance?

Castle Finance Direct offers customers in the UK loans. The company is an independent financial broker licenced to operate in the UK and has been in business since 2003.

What are the key features of Castle Finance loans?

It’s important to analyse the key features of a loan carefully before you commit. Here are the critical details of the type of loan you can secure through Castle Finance:

APR

Representative APR: 49.90%%

The APR for the loan is advertised at 49.90%%. Depending on your individual circumstances, the APR could go up.

Loan Amount and Repayment Period

You can borrow between £300 and £15000.

The loan repayment period can be between 12 to 60 months.

Example

Here’s the representative example that they give on their website:

£1000 repayable over 12 months. Payments would be £103.48 a month. Total repayable would be £1,236.72 including interest plus £49 admin fee.

Information correct as of 01/04/21 (CastleFinance)

How do I apply for a Castle Finance Direct loan?

You can apply for a Castle Finance Direct loan online.

Will I be accepted for a Castle Finance Direct loan? 

Castle Finance Direct will assess you based on certain criteria. See if you qualify:

  • Age: 18 – 65
  • Residency: UK resident
  • Income: You must be working: either employed or self-employed

Information correct as of 01/04/21 (CastleFinance)

Castle Finance Direct Reviews

It’s important to see how other customers have rated their experience with Castle Finance Direct. Take a look at their up-to-date reviews here.

Trustpilot review

Information correct as of 14/06/21 (Trustpilot)

How to complain about Castle Finance Direct?

Should you need to make a complaint about Castle Finance Direct, then you can use the details below to either write to them or call them.

A Clayton
Graphic House
Druid Street
Hinckley
Leicestershire
LE10 1QHL
UNITED KINGDOM
+4407966207467
contact@castlefinancedirect.co.uk

If Castle Finance Direct does not respond to your complaint then you should contact the Financial Ombudsman Service. They might be able to handle your complaint.

Information correct as of 01/04/21 (FCA)

1) Regulations for affordability

One of the most important regulations is that lenders must ensure that borrowers are able to afford to pay back the loan.

The FCA regulation states that you must be able to prove that you can meet the repayments of the loan, and pay for essential bills, including bills and rent.

2) Fees and interest regulations

The FCA determined that it would be appropriate to put caps on both fees and interest rates. These limits were a cost cap of 0.8%, including all interest and fees. It also included a cap on default fees of £15, and a 100% complete cost cap. Borrowers would not have to pay back any more than double of the loan they have borrowed.

Read what to do if you can’t pay back your debt.

3) Regulations on Continue Payment Authority

You may not be aware, but most lenders will have a clause in their agreement which states that they you agree to them using Continuous Payment Authority (CPA). What this means is that you have agreed to the lender taking money from your account for the loan repayments.

There are two aspects to new regulations around the Continue Payment Authority. The first is that the lender, in this case Castle Finance Loans, can only attempt to take the money from your account twice. If the transaction fails, they are not permitted to try this again. The second part is that the full amount should be taken, unless agreed otherwise through a payment plan.

Company information:

After researching Companies House and their website, we found the following information about Castle Finance Direct:

Date of incorporation: 18 August 2003
Company status: Active
Company number: 04869373
Company type: Private limited Company
Website: https://www.castlefinancedirect.co.uk/
Address: Office 261, 51 Pinfold Street, Birmingham, B2 4AY
Opening Hours: Monday – Friday: 9 A.M – 9 P.M, Saturday: 9:30 A.M – 1 P.M
Phone number: +4407966207467

Information correct as of 01/04/21 (Companies House)

FCA registration:

The Financial Conduct Authority (FCA) is the conduct regulator for financial services firms and financial markets in the UK. 

FCA regulated: Yes
FCA status: Authorised
FCA reference number: 719209
Place of business: 
Graphic House
Druid Street
Hinckley
Leicestershire
LE10 1QH
UNITED KINGDOM

Information correct as of 01/04/21 (FCA)

Data protection registration:

Data protection registration means that this company is registered with ICO, the UK’s independent authority set up to uphold information rights in the public interest. The privacy of your data will be protected.

Registration No: ZA002458
Data controller: Castle Finance Direct Limited
Address:
Office 261
51 Pinfold Street
Birmingham
B2 4AY

Information correct as of 01/04/21 (ICO register)

Where are Castle Finance Direct located?

You may want to speak with the loan company in person. If you do, it’s important to find a company whose offices are near your own address. Take a look at their office location on a map.

Address:
261, 51 Pinfold St, Birmingham B2 4AY

References

CONC 2.1 Application

CONC 5.2A Creditworthiness assessment

CONC 13.1 Application

About the author

Scott Nelson

Scott Nelson is a financial services expert, with over 10 years’ experience in the industry, including 6 years in FCA regulated companies. Read more
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