Lendfair

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Company Information

  • Company Name:
    Lendfair
  • Website Address:
  • Business address:
    4 Capital Place, Lovet Road, Harlow, CM19 5AS
  • Phone number:
    01279 882968

LendFair (Lendfair.co.uk) are a new way of borrowing for those with poor credit history who need a helping hand. You can borrow between £500 and £5000 between 6 months and 60 months (5 years) for any purpose. You simply need to find a guarantor to agree to pay for you should you be unable to.

There’s no arrangement fee or early settlement fee, so if your financial situation should suddenly improve you can simply pay off your loan early to avoid paying any additional interest. The loan is available to anyone 18 or over with a UK bank account, and who has someone willing to be their guarantor. Guarantors must be homeowners under the age of 75.

Applicants don’t even need to be in full time employment, although they do need to have a stable income. Guarantors can include immediate family such as parents. Although the applicant won’t be credit checked the guarantor will be. Guarantors don’t necessarily need to be employed as their home is considered proof of income in most cases.

Applications are made online using an easy to use slider, and you can make a payment on an existing loan online using the PayPoint facility. PayPoint allows you to use a debt card to make your payment.

LendFair charges a 48% APR fixed rate which is a 39.8% interest rate. For instance if you needed to borrow £2500 for two years you would be paying back £152.75 per month and in total be paying back £3666. For those looking to borrow just £500 over six months, repayments of £93.28 per month would be due making the total repayable £559.68.

Before starting an application process with LendFair it’s important to talk to a guarantor and have them agree to guarantee your loan. Ensure they know what they are doing and agree to a credit check.

44 Reviews of Lendfair have been submitted - read the latest 3 below

I think Lendfair are a really good company to use if you need to get a guarantor loan. They really are fair with their lending and just because you have to use a guarantor to get your loan Lendfair don't penalise you too much. This type of loan is so much cheaper than a bad credit loan and with lenders like Lendfair you really can get a loan that is almost as good as a regular bank loan for someone with a good credit score instead of my poor one! The hardest part for me was finding someone to act as guarantor but once that was sorted Lendfair made the rest really easy for me.

Review posted by Jenny Lacey, Colchester

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I asked my brother to act as a guarantor for this loan from Lendfair and he said yes right away but he did want to check out the lender I had chosen so I had no problem with that because I valued his opinion on this sort of thing. He seemed pretty sure I had made the right choice so the next stage was to get the loan approved which I am pleased to say was not a problem. My brother has a very good credit history so he was never going to be the problem if there was one. Thankfully there wasn't a problem even with me as Lendfair were happy that I would be able to afford the repayments. I think my brother was too which is probably why he was so eager to act as the guarantor. Well I suppose if you have to be indebted to anyone it might as well be your big bro.

Review posted by Carl Daniels, Felixstowe

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We got this loan for our daughter and my husband chose Lendfair because he thought they seemed like the most straightforward and affordable of all the lenders we looked at on the loan comparison website. As well as her being able to easily afford the repayments we also wanted to make sure it was an easy process for her as she can be a bit of a scatterbrain and the last thing we wanted was her to mess up with the repayments and cause us problems in the process. We've gone through this whole loan application with her and she seems happy with what Lendfair have set up for her and so are we so we just hope this loan goes well for her. she might well be needing more guarantor loans in the future so if Lendfair works out well for her we'll probably use them again.

Review posted by Lesley Alders, Basildon

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