2014 Lender Lists:
Landa Loan @ www.landaloan.co.uk
The Landa Loan instalment product at www.landaloan.co.uk was released back in 2012. Car Repair Finance Ltd who are based up in Scotland is the brand owner. They also trade at www.carrepairfinance.co.uk that was also composed in 2012. With the service in question, £100 to £500 is available over the selections of either 1, 2 or 3 months. On the payment calculator they head charges of £25 per £100 (30 days) and £225 per £300 over 3 months. From looking through their APR payments page they reference a daily rate of 0.89% though and it appears that they do set rates daily.
In this case, charges of £26.70 and £240.30 would be required for our sample examples. A standard slow transfer is issued and there is a note that a same day option is available, but they only state that this can be done for a small fee without disclosing any figures. This would be expected to stand at around the price of £6 or less. The difference between Landa Loan and most of their instalment rivals is that each month attracts the same interest here. This means that savings over extended periods are not provided, whilst other lenders in this sector grant cheaper rates over increased terms.
This is achieved by them taking interest from the reducing balance or they instead just offer lower rates as an incentive. There was currently an issue when entering the application form at www.landaloan.co.uk whereby it wasn’t displaying when using Google Chrome. Using the Internet Explorer browser instead was working though. If you do get it working then do take note that no encryption is used and once funded no login is provided. This lender has standard opening hours of 9am to 5pm (Monday to Friday). There aren’t too many Landa Loan reviews circulating the web, but the few spotted all carried positive user feedback.