Magic Loans Secured Loan Reviews

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“I kind of wish that i had seen these reviews before i...”

★★★★☆

written by on 26/04/2010

I kind of wish that i had seen these reviews before i submitted an application on Friday??????? I was put through to magic on friday by a company Churchwood? I found the advisor that i dealt with very professional and it was fully explained to me from the outset that were a master broker. I am now in two minds about them now after reading these reviews???? I have paid £69.99 for their services and will keep you posted on what happens?

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“I normally wouldnt bother writing a review for...”

★☆☆☆☆

written by on 12/04/2010

I normally wouldnt bother writing a review for companies. But after dealing with these people, I feel I must,so you guys wont bother with this company. This is a bit long,but trust me,it is worth the read

I applied for a £5,000 loan through a website,which sent it to multiple companies trying to get me to go through them. Magic finance was one of them.

They contacted me and I went through an application, the guy that I spoke with said "Ive got great news! You've been accepted for your loan!" This put me off straight away,as I didnt even give him all my details, I told him I lived at my current address for a year,but he never asked for my previous address. When I informed him of this, he says "Oh...well can i have your previous address",and then says again "congratulations youve been approved",he then started to ask me for my debit card details to take a £69 admin fee. He was quite pushy and wouldnt answer my questions about the loan,so I made an excuse that I didnt have my card with me at the time and I would call back. After I got off the phone with him, i did a google search and read every ones story with them. So I decided I wouldnt bother,

well a few days later, i had a missed call from them,I called back to say dont call me again, the guy asked why i wasnt intrested, and i told him I read about how they do business and in my opinion its a scam. he asks me "oh let me guess, u read it on the internet" then hung up on me. I called back to again get my details removed, but this time another guy informs me that my application has already gone through and my card has been debited for the £69, when I inquired how he got ahold of my card details,since i never gave it to him, I was put on hold and passed around about 3 times. Finally a woman comes on the phone and says they have my card details and it has been processed, I again tell her i never gave any such information,so she says "do you have your card with you now?" and actually wanted me to GIVE HER my card details, to see if it "matched up" to what she had. I told her I wouldnt give her anything and if she does have my details and if the money has been taken out, I would be going to the police. she puts me on hold again,then comes back to say "Oh i looked at the banking information we have here,and your name wasnt on the list of payments,so we didnt take any payment and we dont have your details"

but to be on the safe side, i went to my bank anyway and cancelled my card.

DO NOT go through these people!!!

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Celtic_Tiger's Comment

Written on: 14/05/2013

but how did they get your bank details...thanks

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“stay away from this company you will be screwed out of...”

★☆☆☆☆

written by on 29/03/2010

stay away from this company you will be screwed out of £69 and no loan to
boot.im reporting them to watchdog and trading standards robbery of the first degree.

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“STAY AWAY FROM THIS COMPANY, THEY WILL TAKE YOUR MONEY...”

★☆☆☆☆

written by on 26/03/2010

STAY AWAY FROM THIS COMPANY, THEY WILL TAKE YOUR MONEY AND YOU WILL NEVER GET IT BACK. THEIR SCAM IS TO TELL YOU THEY HAVE FOUND YOU A LOAN WITH A VERY LOW INTEREST RATE, THEY THEN ASK FOR £69.99 HOLDING FEE (WHICH SOUNDS LIKE A GUARANTEE THAT THAT LOAN IS YOURS) YOU WILL GET PAPERWORK A WEEK LATER WITH A RIDICULOUS HIGH INTEREST RATE, FROM 40% UPWARDS. IF YOU DONT TAKE THE LOAN THEY KEEP YOUR £69.99. IF YOU DO TAKE THE LOAN YOU ARE FINANCIALLY SCREWED ANYWAY. THEY HAVE BEEN REPORTED TO WATCHDOG AND ALL THE RELEVANT REGULATORS. IF YOU HEAR THE NAMES SIMON AND MARTIN FROM MAGIC FINANCE - CHANGE YOUR PHONE NUMBER!!!!

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“Please do not go with this company. They will intially...”

★☆☆☆☆

written by on 21/03/2010

Please do not go with this company. They will intially ask for a brooker fee of between £20 and £70, and you will never recieve your loan or money back.
Google Magic Loan and read peoples complaints.

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“I needed to raise some extra cash to pay off some...”

★★★★★

written by Phantom132 on 23/10/2007

I needed to raise some extra cash to pay off some cards I'd gone a bit wild on, the bank wouldn't help although I couldn't get a straight answer as to why. I applied to a few loan companies on the web {including one I used last year, but they couldn't help} most wanted to send me either into debt management or something called IVA which I don't fully understand!, I didn't fancy these options as it looks like you just let someone else pay your debts and you pay them! I wanted to stay in control {or feel like I was} so I really just wanted a loan, Magic Loans were the only ones to offer me a loan. I thought as they were the only ones to help I would have to put up with whatever service was on offer. I was so happy when I found that although they were my only option, I could not have wished for better service. The staff were both genuinely interested in getting the loan completed for me {they probably get a good bonus, but they deserve it!} I would definately recommend Magic Loans to anyone looking for a loan, I just wish I had found them sooner, would have saved a lot of empty promises from other companies.

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Helen56's Response to Phantom132's Review

Written on: 29/07/2010

I found this review not helpful because...too many adverse reviews, my own included, to believe this fairy tale. If Magic Loans really are this good then why is there only 1 person saying so - could it be that they work for this broker - as everyone else has just been ripped off. I don't think that 18 customers can be telling lies.

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Lyndsey02's Response to Phantom132's Review

Written on: 20/11/2010

OMG DO YOU HAVE SHARES IN MAGIC LOANS ENHANCE FINANCIAL SERVICES OR WHATEVER NAME THIS CHOOSE TO TRADE UNDER I DONT KNOW HOW THEY CAN LIVE WITH THE GUILT OF TAKING MONEY OF PEOPLE STRUGGLING AND VULNERABLE SICK INDIVIDUALS

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Asked by acrofts on 15th December 2022 Report this content
I’ve asked for a loan from Magicloans I’ve been accepted and I’ve signed paperwork etc but there asking me to pay £73.87 up front for first payment, and I don’t have to pay again till February 2023 , I haven’t sent them any money yet but just want some advice.

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