Frequently Asked Questions
How do you earn your fee for this service?
To operate this service we receive commissions from the provider we refer you to. We are a broker, not a lender. We use a unique algorithm to match our customers’ requirements to our panel of lenders which is based on many of the features of the application details, applicant preferences, and the lender’s product but does not include the commission paid by the lender to us. We DO NOT charge our customers a fee for this service. No one from Nouveau Finance Ltd, Lenders Combined, or any financial partner relations; including lenders; will ever contact you by any means and request you to send money to them or buy products from them in advance of receiving your loan funds. To learn more about how to deal with cold-calls, refer to our fraud protection guidance.
Where can I find out information about your Renewals Policy and Responsible Lending Policy?
As we are a responsible, open and honest company, we believe that it is important to make all our policies easily accessible. Please see here for our Responsible Lending Policy and our Renewals Policy.
What is a short-term or payday loan?
A short-term or payday loan is a loan that’s intended to cover a borrower’s expenses until his or her next payday. The lender usually charges a fixed fee per £100 borrowed and the loan is made until your next payday, regardless of when you apply.
What is an instalment loan?
Unlike a short-term or payday loan, the instalment loan product is usually a higher value loan typically £400 to £2500. The instalment loan is also paid back over longer periods of 3 to 18 months and incurs a smaller interest rate than a payday or short term loan.
Can I apply for a loan?
You can apply if you are: over 18 years of age, living in the UK (England, Scotland, Wales and Northern Ireland), in employment and receiving a regular salary paid into a valid bank account that accepts direct debits.
Visit our Criteria for more details.
How fast can I get my money?
Times will vary based on the lender you have been matched to and the loan product type you are seeking. Using short-term loans as an example, in many cases loan decisions can take as little as 30 minutes. If your bank does not support Faster Payments, funds will be sent to your account the same day as approval so long as you’re approved by 14:30.
How do I apply for a loan?
You can apply 24 hours a day 7 days a week. Many of our lenders also work 7 days a week and can even deposit funds in your account at the weekend.
Complete our quick and easy online form and just click ‘Submit’. If you are approved you will be transferred to the lender’s website to complete the process. Your lender may ask some additional questions not captured on our application form. You then sign your loan agreement online and receive your loan from your lender.
Why does the APR seem so high?
The rules and regulations that govern companies like ours state that we must show you the Annual Percentage Rate (APR). APR’s are calculated based on paying a fixed amount of interest annually.
Short-term or payday loans are normally taken over a maximum term of 30 days so APR’s are not the best way to measure how competitive our rates are. Our lenders prefer to focus on the amount you pay back in total rather than on APR. We are confident that we offer the most competitive rates in the market for this service.
Instalment loan APRs are lower due to the fact that the loan repayments are spread over a longer period of time.
How do I pay back my loan?
Your repayment will usually be taken in full via direct debit on your next payday by the lender you choose to take your loan with. Or in the case of the instalment loan product, the payments will be taken by direct debit on the same agreed date each month.
Do you use credit agencies or credit scoring?
Yes, when submitting your application you consent for our lenders to run a credit check.
I have a bad or poor credit history – can I still apply?
Absolutely, many of our lenders will consider applicants with less than perfect credit histories.
How will I get my money?
It will be paid directly into your bank account.
Do you charge any fees for your service?
No – Here at Lenders Combined we do not charge you a fee for using our loan matching service. However, if we are unable to find an instalment loan for you, we may be able to match you with an alternate broker that may charge you a fee for accessing their extended panel of lenders.
There will be no obligation to pay the fee, you will have the right to decline the fee and select a no fee option. We only work with brokers who offer a free trial period and full refunds when the service does not meet expectations.
Fees are charged by some of these entities to cover the cost of call centre operations and membership system infrastructure required to source alternative loan options for you.
If you decide to pay the fee, all our partners will take your payment details via their website using SSL-secured technologies. No one will ever contact you and ask you to purchase products in advance to prove your ability to pay. If this happens you may be a victim of fraud. Learn more about how to protect yourself by referring to our fraud protection guidance.
If you wish us to skip offers that require up-front fees, you can specify this preference on our application form and we will skip them for you.
How do I stop receiving email and text messages from your company?
If you are receiving email and text messages from our company it is because the marketing permission box was checked when you applied for a short-term, payday loan or instalment loan with us.
If you wish to stop receiving news of our latest offers and deals please click on the unsubscribe link in one of our emails or reply ‘STOP’ to one of our text messages. Alternatively, visit our home page and click on the SMS Opt-Out link at the bottom of the page. After unsubscribing we will then discontinue sending you messages as soon as technically feasible. In most cases within 48hrs.
If you have any questions that weren’t answered here please visit our Support Centre and they will be happy to help. If you need to write to us, here is our postal address: 1st Floor, 2 Woodberry Grove, Finchley, London, N12 0DR
What if I have difficulties paying?
CALL YOUR LENDER! If you think you’re going to have a problem with a payment, you should call your lender as soon as you can. The sooner they know there’s a problem, the sooner they can start to help. They don’t tell people off – they just do everything they can to make things easier! You’ll probably be surprised how understanding they are, so don’t be afraid – just pick up the phone now and if you need help locating phone numbers email us at email@example.com
Alternatively, if you’re worried about things and want more information about how to manage your money, there are a number of free and independent organisations which can help.
Money Advice Service www.moneyadviceservice.org.uk 0300 500 5000. Offers free, unbiased and independent advice to people who want to manage their money more effectively. Face to face sessions available.