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Mr Lender Loans @ www.mrlender.com
Mr Lender has become a recognisable lending brand over their active years that began in 2009. This project is the workings of PDL Finance Ltd that is fronted by Adam Freeman. This entrepreneur had hit fame shortly before forming this company after swiftly exiting The Apprentice Show. This was a move that went to the press after Alan Sugar had spoke out that the would-be candidate had “Bottled It”. Perhaps this may be the case, but it proved to be the correct move. Over 2014 PDL Finance enjoyed a turnover of £37.9 million. This dropped to £22.3 million across 2015, but such harsh drops were commonplace in this chaotic year that the FCA unleashed price capping.
To adapt moving forward, a big change came with their loan terms. They were originally known for their payday loans, but today they have switched to the instalment side offering 3, 4, 5 or 6 months. First time applicants can apply at www.mrlender.com for between £200 and £500. On reloans it is possible to go up to £1000. When heading on to the site and using their calculator they ask you to select when you are paid such as on the last working day or a specific day. Pricing does vary since they move around repayment dates due to weekends. On a past check-up we calculated £300 as costing £143.20 over 3 full months and £254 over 6.
The Mr Lender loans are paid out 7 days a week. Their opening hours during the week are 8am to 6.30pm whilst weekends is 8am to 3.30pm. A Mr Lender login is built into the site. This company has not tended to be a big spender on the advertising front, but they have built up a loyal following. You get a good idea of their profile over on Reviews.co.uk where they have collected over 20,000 reviews (very positive feedback). On the trust side, they are a member of the CCTA. Whilst capping hurt this firm, it was a necessary move we feel since they were historically expensive on the payday side due to admin and same day fees.
£143.20 /£300 (3)
£254 /£300 (6)
Data Taken from www.mrlender.com: January 2017.