HFS Loans Ltd Review

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HFS Loans Ltd
1.3 stars
Average rating for this product is: 1.3 out of 5

From 0 ratings and 9 reviews

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drussell's Review of HFS Loans Ltd

20th Dec 2006

Overall Rating

5 stars
  • Value for money
    5 stars
  • Loan Rate
    0%
Good Points

The scheme worked for the consumer, if careful.


Bad Points

None.


General Comments

I took out a 5 year loan with them on the basis of the Interest Back Bonus Scheme in December 2001. I assumed that with such a system there would be many 'banana skins' along the way, which may have prevented payout. On this basis I carefully read the HFS Loans conditions over and over again, using a highlight pen to pick out the potential 'banana skins'. Having digested the conditions. I duly followed the instructions, registered and received the required certificate. This, and other paperwork was tucked away, and a diary note made for 5 years on the revisit. The diary note also told me where I had stored the paperwork. As the 5 year anniversary approached I extracted the paperwork, reread and familiarised myself with the rules and made the application for the interest back payment to the new Administrator address that I found online. I even complied with the conditions removed by the OFT. My application was acknowledged, and within two weeks of the acknowledgement I received a cheque for the full amount of the interest. Without wishing to be unkind to other reviewers, those who have failed in their claim have scored an 'own goal', which of course HFS hope will happen. However, with attention to detail which does not take much time, these schemes can and do work in the consumers favour. Sadly, those who haven't made it work have only themselves to blame, but have fallen into the modern culture that it must be someone else's fault. This review will not be well received by everybody, and I expect criticism, but this scheme worked very well for me. Thank you HFS.

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Members' Comments ondrussell's Review

  • Slinkywizard on 24th Apr 2007

    HFS Loans do honour most complaints. If you push you should be OK.

  • drussell Rank: Sergeant on 27th Apr 2007

    I have no complaints with HFS Loans, as I was satisfied with all aspects of their scheme. I felt the need to post a positive review for the interest back loan scheme to redress the balance against the number of negative reviews.

  • chessman Rank: Lance Corporal on 26th Jun 2007

    At the time I took out the loan with HFS I didn't expect there may be some pitfalls that I should be aware of and that if I was not careful they would invalidate my claim to the interest at the end of the term.
    Chessman.

NameCredit RatingAPRTypical APRMin Loan AmountMax Loan AmountHome Owner  
Alliance & LeicesterGood8.00%8.00%£7,500.00£14,950.00No
Sainsbury's LoansGood8.00%8.00%£7,500.00£15,000.00No
Nationwide LoansBad7.90%7.90%£7,500.00£14,999.00No