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Vivus Loans @ www.vivus.co.uk
“Vivus.co.uk is no longer taking loan applications”. This was the notice that popped up on their site in February 2017. We sent an email to their team and it was confirmed that they were closing. We’ll follow with the service info that was in place shortly before they closed (this is the 2nd time that the brand has left the UK). The Vivus loans were initially introduced to the UK in 2012. The owner (Latvia’s 4Finance Holding S.A) trades through this brand plus others in 17 countries mostly across Europe. 4Finance however pulled out of the British sector in 2014. We would again see the project spring back up again at www.vivus.co.uk in early 2016.
This time around though V7 Ltd took charge on a licensing deal. Flexible short term lending saw 10 to 41 days, but this was recently changed so that you picked your payday. When the company was originally active they provided the first loan for free. This is no longer the case, but they did pass on a 50% discount to first timers. This 50% saving was granted on the first loan between £100 and £500. This equates to a competitive low cost of just £12 per £100 over a full month. All returning customers had the chance to access up to £1000, but they needed to foot the full capped charge of £24.
A Vivus login portal was housed at www.vivus.co.uk. At relaunch they processed applications here between Monday and Friday, but they did later extend to Saturdays. The full opening hours were Monday to Friday (8am/6pm) and Saturday (9am/2pm). It was important for this firm to gain the necessary traction that wasn’t enjoyed in the initial run. They took the right steps launching a TV advert and promoting across the web. It seems strange in this regard that this closure was announced after such a short time. The £12 charge was the joint 2nd best deal available on the market and so surely people would have been happy to try them out if more people knew about them.
£12 /£100 (30)
£24 /£100 (30) (reloans)
Data Taken from www.vivus.co.uk: February 2017.