118118Money are owned by Madison CF UK Limited.
A new player to the market, 118118Money do not offer guarantor loans, but offer loans of £1,000-£5,000 over a period of 12-24 months for those with poor or low credit.
What’s the Cost?
If you were to borrow £3,000 over the course of 1 year.
Representative Example: Borrowing £3000 over 12 months, repaying £294.04 per month, total repayable £3528.48. Interest rate 31.1%. Representative 35.9% APR (variable)
If you were to borrow £5,000 over the course of 2 years.
Representative Example: Borrowing £5000 over 24 months, repaying £282.33 per month, total repayable £6775.92. Interest rate 31.1%. Representative 35.9% APR (variable)
As 118118Money are new to the market there are no reviews of the service yet, but 118118 is a reputable directory services company. So one could argue that they have their reputation on the line!