Safety Net Credit Loans Reviews & In-depth Info 2022

Borrowing / Bad Credit Loans
Safety Net Loans

If you are considering a loan with Safety Net Loans, this article should help you understand more about Safety Net Loans UK, and how to deal with them. We’ve compiled information about their services, customer reviews and the company details.

About – Who are Safety Net Loans?

Safety Net Loans offers loans of up to £1,000, although new customers are limited to £500. The company offers a revolving line of credit with approvals taking only 15 minutes. SafetyNet trades under Indigo Michael Ltd and is a registered direct lender in the UK, based in Buckinghamshire.

What are the key details of a SafetyNet loan application?

It’s important to understand how the loan application process works for the loan you’re considering. Here we’ve compiled the most important information about applying to a Safety Net loan.

How do I apply for a SafetyNet Loan?

You can apply for a SafetyNet Loan online.

SafetyNet Loans Loan Review

How quick is a SafetyNet Loan application?

The application itself takes about 8 minutes, according to the website. Once your application is approved, you can have the money within 15 minutes.

What happens if I can’t pay my debt back to Safety Net?

If you fall into financial hardship and your circumstances change, it’s advisable to call them and make them aware of your situation. You can contact them on 0808 169 4911, via or through their live chat service.

SafetyNet’s website states that you will always have access to your dashboard, meaning you’ll always know what’s owed and that your financial situation is regularly monitored.

It’s important to note that if you do have any missed payments or cancel your debit card linked to your SafetyNet account, you may find yourself being chased by Indigo Michael Ltd.

Knowing you owe money can be extremely stressful, but it’s best not to ignore the situation entirely. If you are contacted by Indigo Michael Ltd and aren’t sure about what your next steps should be, take a read of our in-depth guide. We outline your options, and what could happen if you don’t pay back what you owe.

Loan Example

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

  • Representative APR: 68.7% APR
  • Loan amount: £500
  • Interest rate: 292% per annum, variable

Will I be accepted for a SafetyNet Loan?

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

  • Age: 18+
  • Residency: UK resident
  • Income: You must have a regular source of income
  • Bank: You need to have a UK bank account with debit card and internet banking

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

SafetyNet Reviews

It’s a good idea to see how other people rate a lending company. Analyse other customers’ experiences with SafetyNet Loans here.

Trustpilot review

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

How to complain about SafetyNet?

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

John Cameron
Windsor Court
Kingsmead Business Park
Frederick Place
High Wycombe
HP11 1JU

If SafetyNet 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)

Interest rates and charges issued by the government

The Financial Conduct Authority brought a price cap into place for lending institutions, which was designed to help protect borrowers from facing unfair charges. These rates and charges include:

  • A cost cap of 0.8% per day on the total value of the loan borrowed, which includes both interest and other charges.
  • A cap on default fees of £15 – interest may still be charged after a default is issued. However, it should not be more than 0.8% per day.
  • A complete cost cap of 100% – you should not be charges more than 100% of the amount borrowed.

The limits are relevant to credit agreements which have an interest rate of 100% or over, and that will either be fully paid back, or at least the majority, within a year.

Other regulations were brought into place in May 2017. With these, lenders have a responsibility to provide details of the products they are offering on a price comparison website. The price comparison website must be authorised by the FCA. Borrowers should have a summary of the total cost of the borrowing.

Continuous Payment Authority – understanding the new rules

You may be asked to repay the debt through a Continuous Payment Authority – or CPA, as it is commonly known as, and this will allow the company to take money from your bank account.

There are new regulations relating to the CPA, which have been designed to offer borrowers a bit more protection. These include only being able to make requests for payment on two occasions.

There are also regulations which relate to the amount they are able to take via a CPA. Lenders are not able to take partial payments anymore, they must take the full amount, or nothing at all. If there are insufficient funds to cover the full amount of the debt, they will not be able to take anything. You can agree that they can take a partial payment though.

According to the law, lenders have a responsibility to:

  • Provide you with advice on where you can find free independent debt advice.
  • Wait for a period of time to allow you to develop a repayment plan which suits your circumstances. This may involve using the services of a debt advisor.
  • Allow time for payments to be made. This may include freezing interest and other charges on your account.

Company Information

After researching Companies House and their website, we found the following information about SafetyNet Loans:

Date of incorporation: 28 July 2011
Company status: Active
Company number: 7721420
Company type: Private limited Company
Address: 10 Brick Street, Mayfair, London, W1J 7HQ
Opening Hours: Monday to Friday: 8:00 A.M – 7:00 P.M, Saturday 9 A.M – 5 P.M
Phone number: +44 08001808559

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 regulated activities: Consumer Credit (credit broking, Debt Administration, Debt-collecting, lending)
FCA reference number: 722768
Trading names: Retail Money Market Ltd, RateSetter
Connected businesses: Metro Bank
Place of business: 55 Bishopsgate, London, EC2N 3AS, 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: Z2878281
Data controller: Indigo Michael Ltd
10 Brick Street

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

Where are Safety Net Loan 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.

Are you looking for debt help?

If you need help in getting out of debt, there are several organisations who offer this for free. These are some of the organisations who can provide free debt help.

Good luck!


CONC 2.1 Application

CONC 5.2A Creditworthiness assessment

CONC 13.1 Application


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