YES Loans - www.yesloansuk.com Review

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alicaff's review of YES Loans - www.yesloansuk.com

☆☆☆☆☆

“I wish I had read the other reviews about YES loans...”

Written on: 24/02/2006 by alicaff (1 review written)

Good Points
None

Bad Points
Misleading

General Comments
I wish I had read the other reviews about YES loans first, then I would have not wasted £49.50. The letter we received was misleading, and it made us think we had been accepted for the loan, and that we had to pay the fee to receive the money. It wasn't the case!



Only when we read the small print does it say they are only brokers, and that they cannot guarantee that you will get a loan. Also in their small print it says there will be no compensation for misinterpretation. That says it all.

  • 25%

    Loan Rate

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238360_Terrryd's Response to alicaff's Review

Written on: 23/04/2006

Hello ‘Yes Loans Client’
I also got turned over by Yes Loans’ paid my £49-50, then found out they were only agents (brokers), was offered a loan with Welcome Finance that was far removed what they quoted at the top of the acceptance letter, that also asked for the fee, but all is not lost.
I have not let go and have been digging, on the OFT website is an archive of previous cases and a broker called Abermore that had its licence revoked because it did not return funds to clients pursuant to the Consumer Credit Act 1974, please see below.
I believe on the terms and conditions we were sent this is mentioned in very small print, as almost a favour not a right.
So just wait your time and request the refund. I am sure Yes Loans rely on peoples embarressment and lack of knowledge to the Consumer Credit Act to ask for the refund, if we all ask for refunds they will soon go out of business, or ‘under new management’ most probably.
Another anomaly I noticed on the loan forms sent to me by Welcome Finance (which I have had great fun telling them I am not happy with the offer) they have a section stating that the Broker introducing me to this transaction is Quick Response Loans, I can find nothing on the net about them, where has my agent gone; Yes Loans.
1. Section 155 of the Consumer Credit Act 1974 applies to a number of types of agreement including mortgages and consumer loans of 25,000 or less. It states that a credit broker may charge no more than 5 for its services if the consumer does not enter into an agreement within six months of an introduction to a lender. If the broker has already charged more than 5, the excess must be refunded to the consumer upon request.
Good luck
If you want to contact…[email protected]
Please note 3R’s in address
Terry

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