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Lending Stream: A Last Resort Loan Option
Considering Lending Stream for a short-term cash fix? Think twice about that eye-popping 1271% APR.
The Quick Version
Lending Stream offers quick access to cash with loans ranging from £50 to £1500. However, the eye-watering APR of up to 1333% makes it a last resort. Only consider this option if alternatives like credit unions are exhausted.
Rates shown are representative. Your actual rate depends on your credit profile. This is not financial advice.
The Numbers
Lending Stream provides loans from £50 to £1500, with a representative APR of 1271% for a £300 loan over six months. New customers can borrow up to £800, while existing customers can access up to £1500. The loan term is between 3 to 6 months, according to source.
What's Actually Good
Approval happens within minutes and bad credit is considered, making it accessible for those in urgent need. Trustpilot reviews rate it 4.8 out of 5 from over 32,000 reviews, suggesting positive user experiences.
The Catch
The APR is a staggering 1333% at its highest, making this a very expensive loan option. Total repayment on a £300 loan over six months amounts to £578.36, nearly doubling the borrowed amount. This is a high-cost credit product, so consider other options first.
Who Benefits Most
This loan is best suited for UK residents over 18 with regular income who have exhausted other options. It's particularly aimed at those with lower credit scores who need emergency funds quickly.
The Bottom Line
If you're in a financial pinch and can't find another way, Lending Stream might offer a quick fix. But be prepared for the high cost, and only use it as a last resort.
