Lifeboat Loans Review

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Company Name:

Trading name of:Lifeboat Assistance Limited

Registration Number: 05208506

Credit Licence Number: 0567072

Representative APR: 4,020%

Maximum Loan Amount: £1,000

Loan Term: 5-30 days

Cost to Borrow £100 for 30 days: £155.51

Representative Example: Representative Example: Borrow £200 for 30 days. 360% p/a (fixed). Interest & Fees = £111.01. Amount repayable £311.01.

Hidden Fees: No

Promo Code: No

Contact: / 0845 570 1234

About: At Lifeboat Loans you can apply for a short term loan of £50 up to £1,000 for a term between 5 and 30 days.

To be able to apply, you must be aged between 18 and 65, be fully employed and be a permanent UK resident. Lifeboat Loans is one of the few lenders that will also review your application if you have bad credit and will also take into account other criteria as part of their affordability check.

If you are approved for a loan, the funds will be sent to your bank account within 24 hours ; except weekends and bank holidays.

You can repay your loan earlier and you will only be charged for the amount of time you've had the loan for, not for the whole original period you applied for. To repay early, simply get in touch with Lifeboat Loans customer support team.

However, if you cannot repay on time, you will be charged an additional £20 and a default interest of 1.5% a day. In some cases they will allow you to simply repay the interest to extend the loan in the limit of two times.

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