DIRECT LEND- RESPONSIBLE BROKING POLICY
Direct Lend is a trading style of Technov8 Limited, a company incorporated in England & Wales (05377058) and regulated by the Financial Conduct Authority (732414). Our registered address is: Bartle House, Oxford Court, Manchester, England, M2 3WQ
Implications of Non-Payment
If you are unable to pay on time, each lender has their own policies with regards to fees, interest, and collection of outstanding debts. Some lenders may pursue you by legal means in the event of repeated non-payment. Most will contact you by phone, letter, or email in order to rearrange payment. Non-payment may result in charges, raised interest, and may affect your credit score. Please read the charges section of the lender’s website before finalizing your loan.
Collection Practices
In the event of continued non-payment, your debt may be passed to a collection agency, which could add further charges. Please check with your lender on their collection practices.
Late Payment
If you feel that you will be unable to make your agreed repayment on the specified date, it is essential that you contact the lender in advance. The lender may offer to extend or renew your loan, which could result in additional interest being charged. Lenders may also issue a charge for late payments, with the amount differing by lender. Ensure you read the terms and conditions before entering into any loan agreement, as late repayments can negatively impact your credit file.
Renewal Policy
If you wish to renew your loan, you should contact your lender in advance. Most lenders will charge the same rate of interest and fees for another month on the entire amount owed. In the event of late or non-payment, a loan renewal/extension could be automatic, and further interest and/or charges may be added to your account. Please think carefully before extending or renewing a loan, as this could result in your repayment(s) increasing significantly.
Warning
You must always consider if a loan is suitable for your circumstances. Late repayment can cause you serious money problems. If you are struggling to keep up with repayments each month and feel that your financial commitments are mounting up, the following organizations could be of help:
Money Helper- https://www.moneyhelper.org.uk/en
Step Change- https://www.stepchange.org/
Info
Privacy & Terms
Contact
Direct Lend is a trading style of Technov8 Limited, a company incorporated in England & Wales, with company registration number: 05377058. Our registered address is: Technov8 Ltd, Bartle House, Oxford Court, Manchester, M23WQ
Technov8 Limited is authorised and regulated by the Financial Conduct Authority (FCA) under registration number 732414. We are also registered with the Information Commissioner Officer under registration reference Z3652660.
Technov8 Limited is a credit broker, not a lender. We do not charge customers a fee for using our services, but we receive a commission from lenders or other brokers if a customer enters into a consumer credit agreement following an introduction through our website. We work exclusively with a selected group of lenders and credit brokers to offer you a range of credit and loan products. We may receive a percentage of the loan amount as a commission from a loan provider or broker if you take out one of their products and/or we may receive a fee for introducing you to them.
When you apply for a loan through us, the lender will disclose directly to you all the relevant information relating to interest and charges associated with the loan. Please note that the lender or broker we direct you to may not offer the cheapest loan that is available to meet your needs.
[*] The APR depends on the lender and the customer’s circumstances. The Representative APR is based on the mean APR of our panel of lenders.
Loans are available to individuals over 18 years old, subject to status. The majority of loan applications are processed online; however, there are circumstances where our lenders may need to call you. Further information relating to why lenders will need to call you is disclosed within their terms and conditions.
Upon approval, your cash could be sent within minutes, though the time it takes for the cash to be received in your account will depend on your bank’s policies and procedures. If we cannot find you a loan, we may transfer you directly to alternative firms and services which may incur a monthly fee, such as credit building tools if you choose to use them.
By using our services, you agree that this agreement is in English, and all communications between you and us will be in English.
