Karolina Stempien's community profile page

Write a review

Viewing profile for,

Karolina Stempien

Total reviews written

Helpful marks given to their reviews

Times reviews seen

All reviews (1)

Review of the Fair Finance, Personal Loan:

View on product page

Not very fair finance

I have applied for a loan of £200 and was approved, which is great but... Firstly, I had to wait 3 days for decision. Secondly, Fair Finance states on their website that they charge upfront admin fee of 5% of the loan value, which in my case should be £10. After a phone chat with a representative, it appears that the admin fee for my loan is £25 which is whooping 12.5% of the loan. Very misleading website. If the information was stated correctly wouldn't bother applying for a loan. £10 is acceptable but not £25 especially on such a small loan. If one includes admin fee and interest rates, loan becomes too expensive to consider. Just wasted my time. Reviewed on: 20th June 2016

Reply from Fair Finance We’re sorry that you had a bad experience with Fair Personal Loans, we work hard to ensure that customers get a decision within one working day. We have a minimum administration fee as it costs us the same amount of money to look at a smaller loan as a larger one, we’re sorry that you didn’t feel this was clear enough, since you applied we have made it more explicit on our website. Response date: 26th July 2016

We are helping 1000s to make smarter financial decisions

We use the power of consumer reviews to help increase trust and transparency in financial services and to deliver industry leading insight and events.