YES Loans Personal Loans Review

Overall Rating

They are quick to take the money

They are a broker but they won't tell you this ....it's in small print on the application form which I noticed after I had paid the admin fee of £50

I have bad credit history and wanted a loan so I tried Yes Loans. I filled out the form and was told I had been accepted....great I thought! I had to pay an admin fee (of course) and it was once this was paid that I realised that I wouldn't get a loan from them as they are just brokers. Anyway after many calls they told me they had a lender for me and I had to contact them....surely I could have found this lender myself if I have to do all the leg work. Anyway it has been 3 weeks since my details were passed to a company and I have not heard a thing...a CON my advice ...steer well clear!!!!

Members' Comments oncarolynward's Review

• carnnelia on 29th Nov 2005

  I also applied for a loan and they said I had been accepted. I paid the fee and then they said they couldn't give me a loan. They said I had to wait six months for a refund, I still have not recieved it back, IT IS A CON AND THEY ARE JUST MAKING INTEREST FROM THE DEPOSIT. I have since seen hundreds of complaints about this company I only wish I had seen them before. They are preying on vunerable people.

• toffeetracy on 13th Dec 2005

  The same thing happened to me. You ring them up, you give you're details, they say you have a loan and they will seand you out a confirmation in post and all you have to do is give them an administration fee. Mmmm I thought an admin fee but I continued as I needed money for Christmas, NOTE: Not once did they mention they where brokers.
  So the letter comes through congratulations you're application has been accepted you need to fill out you're details and send out a form plus £50 which we did.
  They took money and sent us letter through saying thanks, you should recieve payment in 5days.
  WAITED and WAITED and.....I rang.
  
  Sorry we are brokers, we don't authorise loans, WHAT!!!! Here is a number of a loan company, we ring they know nothing about us whatsoever so we arrange a loan with them still haven't heard from them yet............ So rang customer services, you didn't read the small print in the little booklet (by the way we didn't receive, and on receiving after still does not say that they are brokers) so I'm not entitled to anything even though they actually did no broking, lol so just write in and complain, she said it could take 6 mounths lol.
  
  DO NOT DEAL THEY TOOK OUR MONEY AND THEY DON'T CARE. DO NOT APPROCH. DO NOT APPLY. If anyone has problems please leave a comment here and we can take it futher as a group, or if anyone has won a court case with them please contact me. I'm so angry I'm going all the way, just watch Yes Loans, I will get my money back.

• heidigrl43434 on 16th Dec 2005

  I work for a finance company who use Yes as a broker. We were not aware of their business practise of accepting an admin fee at first. I first found out about it when a customer rang me to ask for their money back!

• racmaso on 2nd Apr 2009

  i dd exactly the same as you and still waiting to hear a man rang me last night and actually expained the situation to me and thats wh i'm on here today i have emailed yes loans and stil nothing back as yet worrying thing they have all my bank details now how foolish have i been things we do for money the man on the phone did ay i was entitled to a full refund if i have an address for them which i don't and really don't know if the man on the phone is real he sounded genuine but so did yes loans i think evertone who has been efected by this should all get togetheron this one and hopefully we'll get refunds i paid 69.95 for mine