Dot Dot Loans (https://www.dotdotloans.co.uk) may well be a new name in the market but the parent companies have been around a while. Dot Dot Loans is a trading name of Shelby Finance Limited and are owned by Morses Club PLC which according to their website have over 130 years experience in the loan arena.
APPLICATION REQUIREMENTS:
Most of the requirements in order to determine eligibility are fairly standard. For example, you will need to be 18+, have a UK bank account with debit card and be a permanent UK resident. On top of that you will need to have an income of at least £10,000 per year paid into the bank account you specify during the application process. You’ll also need to provide a valid e-mail address and phone number – both verifiable.
LOAN AMOUNT AND CHARGES:
There are no hidden fees associated with Dot Dot Loans. The amount you pay will be your desired loan amount plus interest. The total interest paid will be determined by both the loan amount and the period you take the loan over. Dot Dot Loans offer a maximum loan amount of £600 for new customers right up to £1250 for existing customers.
The amount you are offered may be less than that requested as Dot Dot Loans will perform their own afford ability checks based on the information you supply them with along with a regular credit check.
PROCESS:
All you need to do in order to take out a payday loan with dot dot (providing you meet the eligibility criteria) is head over to their site and fill in the online application form. Assuming your application has been successful you’ll then be asked to confirm the loan.
If you’re applying within the hours of 08:30 and 16:30 – your loan will be sent to your designated bank account within the hour. If you apply outside of these hours you may receive your loan the following day.
PAYMENT:
The initial loan is paid directly into your bank account once processed and subsequent repayments are made directly from the same bank account on a monthly basis via the Continuous Payment Authority system. This is similar to a direct debit. You can specify your repayment date but it would usually be assumed to be the date you get paid from your employment.
