Have you ever been trapped on the highway because you ran out of gas and your dashboard kept flashing the low fuel indicator? You looked to the left and right, but there was no sign of a fueling station. Loanskipper offers loans from between £100 to £2000 for a period of up to 6 months.
This is similar to when one needs to obtain a loan. Loanskipper has vowed to come to your aid when you are down to your last dollar. Will it keep its promise and not let you down? Are there any red signals to look out for if it keeps its promise?
Our in-depth evaluation will not only provide you with the required information about its services and platform, but will also assist you in determining if it is better for you to receive your loan from Loanskipper or elsewhere.
What exactly is Loanskipper?
Loan Skipper loan calculation using a £20 note, some coins, a pen, and a calculator
Loanskipper is a registered trading name of Season Marketing Ltd, an English and Welsh corporation (corporation number 08901402). It was established on February 19, 2014. Season Marketing Ltd is a broker, not a lender. Loans are thus processed by a third-party lender.
Season Marketing Limited is in charge of arranging loans for prospective clients. The amount that an individual can borrow ranges from £100 to £2000, with terms ranging from 2 months to 6 months.
Loanskipper acts as a loan broker, connecting clients with third-party loan lenders. This, however, may generate some tension because the reputation and services of its third-party lenders may not sit well with its applicants.
Loanskipper Loan Pros and Cons
Pros:
- Users may receive funds in their accounts in as little as 15 minutes.
It takes 2-15 minutes to complete the form.
On average, payments are transmitted electronically within 15 minutes.
The Financial Conduct Authority authorises and regulates it.
The Information Commissioner’s Office has granted it permission.
Loans are approved quickly and in a timely manner. This is beneficial to borrowers in times of emergency.
Cons:
- It is a credit broker rather than a lender. This may imply that personal information is shared with one or more loan lender organisations.
Because of the link with numerous loan-lending firms, APRs are not constant.
A charge may be asked up front.
Loan lenders will be referred to applicants. This may make the process more difficult and confusing.
What is a Loanskipper loan?
Loanskipper is not a platform for direct lending. It connects candidates with the finest payday loan supplier. It effectively acts as a middleman between the borrower and the lender.
To begin the loan procedure, applicants can simply obtain an estimate by using the panel to the right on the company’s website. Applicants should simply pick how much they want to borrow by clicking on the appropriate figure or entering the desired amount in the box labelled ‘Other amount.’ The applicant can then change the loan term time by clicking and hovering the mouse between 2 and 6 months. Furthermore, candidates can borrow between £100 and £2000.
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How to Use Loanskipper
When applicants click on the “Apply Now” link on the homepage, they are promptly taken to the application form, which must be filled out and submitted online. Personal inquiries concerning applicants’ financial facts, work details, credit card details, full names, and so on are required for filling out the form. Once all of the necessary information has been gathered, a decision will be made on the submitted application. This is normally done quickly, and applicants are then notified if their applications were approved or refused.
Applicants will receive additional instructions on how to claim their loan once the loan has been granted. Generally, funds are received within 24 hours and transferred directly to the applicant’s bank account. This can, however, change depending on the bank and the clearing time.
Fortunately, the website has tools that can aid in increasing transparency about Loanskipper’s services. An applicant can readily check the APRs rate, the interest charged on the amount borrowed, the repayment date, and the total amount to be repaid right from the homepage.
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Rates of interest
Although acquiring a loan through Loanskipper can be quick, it is crucial to understand that using this service may take longer than using direct lenders. This is due to the fact that applicants will want to evaluate multiple lenders’ APR rates before selecting the lender with the best rate. This can be time-consuming and inconvenient for the candidate.
One advantage of using Loanskipper is that applicants can have the requested loan amount transferred immediately to their bank account without leaving the comfort of their homes or businesses. Payments are made immediately to the applicant’s account information. This eliminates the need to travel to the lender’s office to obtain the funds.
Borrowing and Loanskipper Account Creation
Completing the application form on the internet is basic and simple.
1. To begin, go to loanskipper.co.uk and click on “Apply.”
Loan Skipper Registration Form
2. Enter your personal information.
The page asks you to enter information such as the money, the length of the request (months), your personal information, your address, and so on.
3. Next, enter your banking information.
You must enter your credit card information as well as any financial information. The identifying page will be displayed after these details have been validated.
4. Continue to the verification stage.
This stage is used to confirm your identification. After that, you must agree to all of the terms and conditions by simply ticking the “I agree” box.
If your loan application is accepted, payments will be processed and electronically sent into your bank account within a few days.
It is critical to exercise caution while signing up for these items. This is because you can wind up owing two to three times the amount borrowed on longer-term loans, and many people struggle to repay short-term loans without reborrowing.
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Loanskipper Loan Eligibility Criteria
Some of the requirements for Loanskipper loans are shown below.
- The applicant must be a British or Welsh citizen or resident.
Before applying for a loan, a prospective candidate must be at least 18 years old and employed.
To be eligible for the loan, you must have an active bank account.
A valid and active credit card is required.
Borrowers Must Provide Information to Obtain a Loanskipper Loan
To complete all of Loanskipper’s requirements, applicants must furnish the following information:
- Name
The birthdate
The email address
Contact information
Details about your income and employment status
Address specifics
Total number of dependents
Bank account details
What are the loan borrowing expenses for Loanskipper?
Because Loanskipper is a credit broker rather than a lender, obtaining specific APRs is challenging. Loanskipper matches candidates with loan-lending companies. This makes obtaining correct APRs incredibly difficult because each loan-lending organisation has its own APRs.
Loanskipper officially declares that its APRs range from 35.9% to a maximum of 1304%.
Loanskipper Customer Service
Loanskipper has received some excellent response despite the fact that it is relatively new to the business. However, getting in touch with their customer service crew can be difficult. This is due to the fact that they can only be reached via email. Furthermore, because Loanskipper connects applicants with loan lenders, it is critical that applicants conduct their own research before engaging in business with their loan lenders.
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Is borrowing from Loanskipper risky?
Loanskipper is a Financial Conduct Authority (FCA)-authorized and regulated firm. Applicants should be aware, however, that Loanskipper will always send them to third-party loan providers. This makes it impossible for them to avoid disclosing vital information to lenders and marketers. As a result, lenders may send promotional emails or sell their products on occasion.
Although this is not a safety issue, applicants may occasionally receive text messages or phone calls from marketers and loan companies.
Is Loanskipper App Legit or Scam?
Loanskipper App is Legit and not a Scam. However, it is important to see its pros and cons before applying for any loan.
Conclusion
Loanskipper does a fantastic job of matching applicants on its platform to the best lenders in the business. It has a large coverage area that spans the entire United Kingdom. Furthermore, it ensures that clients’ funds can be electronically moved into over nine main banks across the UK.
Customer service, on the other hand, cannot be accessed via phone. When there is an emergency, you may have difficulty reaching customer service. Overall, Loanskipper offers a courteous customer support staff that is always willing to assist.
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