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Oakam Loans @

Oakam Loans
Oakam has been active since the year 2007. They operate on the web from and also trade from a chain of stores mostly scattered across London with some coverage in the Midlands. There was 22 branches in total (now 19). The Oakam loans are available in 2 forms. The main smaller offering grants new and existing customers between £200 and £1750 across 3 to 12 months. There are however term restrictions depending on how much you wish to borrow. The extended product (called Lift) sees £2000 to £5000 this time between 1 and 3 years. To run through pricing, a £300 sum at 3 months would cost £129.78 whilst for 6 you’d be looking at £263.16.

The amount of £1000 could only be selected over a full year and the charge for this would be £935.44. When switching over to Lift this price is £781.48 for £2k (splits as £390.74). There are eligibility differences between this pair as seen for instance with a minimum wage of £400 compared to £700. One of the most attractive features of this lender is that they do say yes, when their rivals say no. It is for instance possible to get accepted with a CCJ on your record, self-employment is considered and those on benefits can also see approval. Those new to the UK can also get funded so long as they have been here longer than 6 months.

Their support advisors can even collectively speak 20+ different languages. There is no Oakam loan login facility at, but customers can track their account through Oakam’s app. Once an application has been processed, they will need to speak to you over the phone before moving forward. This will be during their hours of business that are listed as Monday to Saturday (9.30am/6pm). If you are heading to one of their stores then the times are matched except Wednesday (10am/6pm). As a final note, they were recently awarded as Credit Today’s Best Alternative Lender 2016 (Short and Mid-term). SafetyNet Credit is the only other subprime lender to win this award.

Pricing Examples…
£129.78 /£300 (3)
£263.16 /£300 (6)
£935.44 /£1000 (12)
£781.48 /£2000 (12) (Lift) (split: £390.74)

Data Taken from March 2017.