118 118 Money offer unsecured personal loans that are taken out over a short to mid-term lending period. Customers will usually have the money in their account within 24 hours.
118 118 Money is the trading name of Madison CF UK Limited, and they are the financial arm of the company most famous for its directory enquiries service, and its adverts featuring a pair of moustachioed runners.
They offer unsecured personal loans that are taken out over a short to mid term lending period, to customers aged 18 or over who are resident in the United Kingdom.
They are authorised and regulated by the Financial Conduct Authority, and they have their headquarters in Cardiff.
Applications to 118 118 Money are made online, and decisions are made quickly. Amounts of between £1,000 and £5,000 can be applied for, and paid for in fixed monthly payments.
One of the factors that makes 118 118 different to many of their competitors is that loans can only be taken out for a one or two year period.
Their stated aim is to provide loans to people who have had difficulty in obtaining credit before, and by so doing to act as an alternative to payday loan providers.
Their rates are transparent, and lending is based upon criteria that determines whether or not the applicant can afford to pay back the loan. Whilst credit history is considered, they won’t automatically discriminate against people who have a less than perfect financial past.
The 118 118 online application process is made to be as simple as possible. If accepted, the customer will usually have the money in their account within 24 hours. There’s no limit to what the money can be used for, and their website allows potential applicants to check if the loan would be right for them without making an official request that could affect their credit score.
The account can be managed completely online, and it’s easy to make additional payments to 118 118 Money, or to pay the loan off early, should the customer wish to do so.