Share My Loan Review
| Aspect | Detail |
|---|---|
| Customer Rating | 4.9/5 Excellent |
| Verified Company | Yes |
| Recent Review Date | March 1, 2024 |
| Review Highlights | Informative process |
| Thorough security checks | |
| Excellent customer service | |
| Affordable rates and manageable repayments | |
| Official Website | Share My Loan |
Do you want to get a group loan through Share My Loan? Before you sign in on ShareMyLoan, it can be very important to hear about some real-life situations from other people who use Share My Loan. I will give you information on Share My Loan review and some pros and cons.
Share my loans is a very good idea. They are a UK based company. They are more different from some other standard lenders in that they always need two people to apply for a loan together, and at least one of them must be a homeowner. So the idea behind this method is to share the risk and maybe make it very easy for those people who have very bad credit to get loans.
Positive Reviews and FCA Authorization
Here is some positive reviews of Share my loan
- FCA Authorization: This is a very important factor that Share My loan has been approved by the FCA. so it proves that they are a real company and are following UK rules.
- Positive Reviews on Trustpilot: Trustpilot reviews on Share My Loan are very positive. A site for customer reviews has lots of good things to say about Share My Loan. Some reviewers also say that there are some good things about the platform, like:
- Simpler application process: Many users like how much easier it is to apply for a Share My Loan than with some other traditional lenders.
- Very quick responses: Share My loan response is much quicker; it approves loans faster and pays them out.
- Good customer service: Reviews that are very positive talk about some situations with helpful and friendly customer service.
Some Drawbacks of Share My Loan
There are some drawbacks to Share My Loan
- APR is very high. The annual percentage rate (APR) on Share My Loan is a very high 48.9%. This means that if I compare this loan to another standard lender, you may have to pay a very high interest rate. But before you take a loan from Share My Loan, you need to make sure that you check interest rates from some other different lenders as well.
- Lack of information: The Share My Loan website might not make it easy to find information about loan terms, fees, and requirements for qualifying. And for more information, it is very good if you get in touch with them personally.
- Pay attention to joint borrowers: My Loan only works with some joint customers. If you want a solo loan, this may not be the best thing to do.
Some reviews from Third-Party Sources
There are some other reviews from third-party sources
- Some blogs and financial news sites: You can also look for reviews or some more stories from other independent blogs or financial news sites that you can trust. And compared to other people’s reviews, some of these sites may give you a more objective view.
- Financial Conduct Authority (FCA) record: It is suggested that you also check the official record to see if Share My Loan is authorized by the FCA.
Last words on Share My Loan Review
Share My Loan has a very special option for joint users and also for those whose credit is much better than perfect. But a very high interest rate can be a bigger problem.
Here are some main points:
- Honesty is very important. If you need some details about loan terms, fees, and qualifications that are not clear, But you can contact Share My Loan directly to get more information about Share My Loan.
- Do your own research before agreeing to a high-interest shared loan.
- You need to make sure that you can easily pay the loan back.
- you can also visit some more pages of this website for more information about loan in UK