2014 Lender Lists:
Swift Money @ www.swiftmoney.co.uk
Swift Money is a direct lender based in the region of Bournemouth. They cater a range of terms that can be selected as monthly, between 3 and 6 months or between 12 and 24 months. The brand owner here is New Forest Finance Ltd. They were formed in the year 2007 and the site for this brand in question (www.swiftmoney.co.uk) was composed later in 2008. This company is not to be confused with the broker that uses the same name via the (.com). This appears to be the single loan service provided by New Forest Finance. Their popularity is fairly moderate, with this being a small family owned business.
The payday product grants £100 to £200 at first and £1000 when returning. The instalment product is noted as £750 and the longest term highlights that £3000 is possible. The Swift Money payday loan costs £30 per £100 for interest, but there is also a £10 admin fee deducted from the funds sent. This is only the full cost if you wait on slow funding, with the fast transmission costing £15. The pricing over instalment periods is much more expensive compared to what’s available from the big sector names. This is not helped by the added fees. No customer login facility or encryption is attached to www.swiftmoney.co.uk.
One thing of further note is that you can only apply when you are aged above 23 and you must also be earning £1500 monthly. This lender is open from Monday to Friday only between the times of 9am and 6pm. It is good to see that they do offer plenty of flexibility when it comes to repayments, but the costs are too expensive when you have to be paying admin and fast transfers fees on top of interest. What they ask for in eligibility is also too much. Many of the biggest payday lenders ask for much less from their applicants and they charge much less as well.