Lending Stream Loans

If you are considering taken out a loan with Lending Stream Loans, this guide will provide you with all the key information. We’ve compiled loan details, company information, and customer reviews in one place for your convenience.

About – Who are Lending Stream?

Lending Stream Loans offers loans of up to £800 for new customers, and up to £1,500 to customers with a good repayment history. The company was founded in 2008 and is a registered lender in the UK and a subsidiary of GAIN Credit, Inc.

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This 4 question debt calculator will tell you if you’re eligible.

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What are the key details of a Lending Stream loan?

Analyse the key details of a Lending Stream loan here.

APR

Minimum APR: 1333%
Maximum APR: 1721%

The APR for the loan is advertised at 1333%. This is a best case scenario. Depending on your individual circumstances, the APR could go up to 1721%..

Loan Amount and Repayment Period

You can borrow between £50 and £1500.

The loan repayment period can be between 60 – 180 days.

Example

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

  • Representative APR: 1333% APR
  • Loan amount: £200
  • Interest rate: 292.0% (fixed) p.a.
  • Term: 6 months
  • Monthly repayments: £64.44
  • Total amount repayable: £386.61
  • Total cost: £186.61

Fees

There is no additional fee involved with this loan.

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

Lending Stream Website Review

How do I apply for a Lending Stream loan?

You can apply for a Lending Stream loan through an online application.

Your application will be run through an algorithm to give you a (in most cases) instant decision.

The cash can be in your bank in 90 seconds.

Will I be accepted for a Lending Stream loan? 

Lending Stream will assess you based on certain criteria. See if you qualify:

  • Age: 18+
  • Residency: UK resident
  • Income: You must be in regular employment with a monthly income of at least £400
  • Bank: You need to have a UK bank account and debit card to qualify for this loan.

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

Lending Stream reviews

It’s important to see how other customers have rated their experience with Lending Stream. Take a look at their up-to-date reviews on Trustpilot.

Trustpilot review

*Information correct as of 11/06/21 (TrustPilot)

The rules for Lending Stream Loans

The Financial Conduct Authority recently analysed the practices and lending choices of lending companies. This resulted in new regulations being created to protect borrowers.

Let’s look at these new regulations in more detail:

1) Rules on affordability

The FCA determined it appropriate for lenders to ensure that they are only offering loans to borrowers who can afford to pay them back.

According to this regulation, the loan repayments must have been affordable, when taking rent, bills and other expenses into account.

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This 4 question debt calculator will tell you if you’re eligible.

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2) Regulations on interest and fees

The FCA also found that lenders were charging borrowers excessive interest and fees. To remedy this, they introduced a cap on both the fees, and interest being charged. These limits included (a) a 0.8% cost cap – this including interest and fees. (b) default fees cap of £15 (c) 100% complete cost cap, which prevents you from being charged more than double of the amount you owe.

3) Continue Payment Authority changes

In most cases, lenders will require you to repay the money using a CPA (Continuous Payment Authority).

There are two new CPA regulations to be aware of. (a) if Lending Stream Loans attempt to take payment on more than two occasions and it fails, then they must not try again. (b) they must not take partial payments. if there are insufficient funds in your account, they cannot take anything at all. You can agree to a partial payment arrangement with Lending Stream Loans though, if this suits you.

How to complain about Lending Stream?

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

Stuart Driver
The Grange Barn
Pikes End
Pinner
Middlesex
HA5 2EX
UNITED KINGDOM
442033650138
info@lendingstream.co.uk

If Lending Stream 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)

Company information:

After researching Companies House and their website, we found the following information about Lending Stream:

Date of incorporation: 1 October 2014
Company status: Active
Company number: FC032134
Company type: Overseas company
Website: http://www.lendingstream.co.uk
Address: 251 Little Falls Drive, Wilmington, Delaware De 19808, United States
Opening Hours:
Monday – Friday: 9 A.M – 6 P.M
Saturday 9 A.M – 1 P.M
Phone number: +442033650133

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: 689378
Trading names: 
Lending Stream
Drafty
Place of business: 
30 Great Guildford Street
London
SE1 0HS
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: Z2752028
Data controller: Gain Credit LLC
Address:
251 Little Falls Drive
Wilmington
Delaware
DE 19808

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

Where are Lending Stream 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.

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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