We have noticed a couple of the bigger Guarantor lenders, including Amigo, are not offering the most flexible and therefore cost effective options to potential borrowers. So take Amigo for example; you can now only borrow in increments of £250 and periods of whole years; 1,2,3,4 or 5 years.
This means if you wanted to borrow, say £1,300 over 14 months, you would have to chose £1,500 over 2 years. Cost in interest £725.28
Compare that to a Lendfair loan with increments of £100 and loan periods in increments of 3 months. So in this case you can borrow your preferred amount £1,300 over 15 months. Cost in interest £371.45
That’s a saving of £353.83. That makes your chosen loan 49% cheaper with Lendfair compared to Amigo. Fair in name, Fair in the way we treat our customers.
The FCA wants all customers to be treated fairly, and so do we, that’s why at Lendfair we allow you to chose exactly what YOU want to borrow and for how long. Subject to affordability this choice can significantly reduce the cost of borrowing and more importantly shorten the loan repayment period.
Too good to be true? It’s really not; select your perfect loan at www.lendfair.co.uk